There are many factors that influence buyers and one of the major ones is how a property presents. When you have tenants in a property, you have no control on how they will present the property for sale. They have no vested interest in the sale and if anything, they are already annoyed about their life being interrupted. Buyers are fickle these days and if something doesn’t present to their standards, they will move on at a drop of a pin. So, the opportunity to take control of your sale is always going to be the advice you will get.
By moving your tenant out prior to selling your property, you can go in assess and repair any damages, do basic updates and stage your property with furniture. All these one percenters, as we call them, will help immensely when it comes to attracting interest from buyers. The more buyers you can get interested in your property, the greater the chance of securing an amazing result. As this is a major sale, you must do everything you can to help maximise the price.
Even though your property may be vacant for a few weeks and maybe a few months as you await settlement, I’ve found that the price I’ve achieved on properties that we were able to control the presentation, heavily out weighs the few months rent and the lower achieved price on tenanted properties.
As a seller, you must do everything you can to get the best out of the market. Make sure you take the right steps to give you the assurance you have done everything you can to attract interested buyers to your property and given yourself the best shot at getting a result beyond your expectations. Don’t leave anything to chance and think logically about whether you’re making money or losing money based on a few short-term decisions.
The following advice is of a general nature and intended as an opinion and broad guide. For all legal, financial or real estate advice you should obtain independent professional advice to do with the specific nature of your circumstances before making any legal, financial or real estate decisions.