Hello, this is my first listing! It's my own, one of our investment properties. It's currently tenant occupied until February. I want to offer an incentive since none of the listings in this area is offering anything. My property is a downstairs unit which currently only upstairs units are on the market. I want to offer either the maintenance fee paid for a year which is only $70 a month or 2% closing costs. For all you experts, should I offer the 2% off the bat or wait & feel the market w/the maintenance fee only.
Thanks.

Congrats! I have a listing that is tenant occupied also. I will be marketing mine mainly for investors being that the tenant has a lease until June 2007. If I can get an investor to buy the home, the owner has agreed to pay the difference in higher rent for the tenant until the end of the lease term.

If buyer comes in and wants to buy for himself as a primary resident, then seller will pay for tenant to stay in a hotel or another home. It would be up to tenant at that point.

I'm not sure that you could press that second issue. In our state at least ... the lease carries through with the property. If the tenant has a lease until June 2007 -- nothing could get him to leave (except not paying) and I know at least her that the hotel/other home option would MAKE them move out. They (the tenant) may agree to it ... but it wouldn't be a guarantee that the tenant would move out.

that is correct. the lease would stay in effect unless both parties (tenant and owner) agree to move tenant somewhere else. if they don,t want to go, they don't go. it's that simple.

For an investor who has to carry the lease over and in most cases the mortgage payment are not going to be the same as the rental it would be more attractive to pay the 2% CC. Maintenance $70 is not too much if you add up any investor who is willing to take over the lease is going to look for good deal and not a $840 saving. In Virgina we have similar law as mentioned above if the property is sold the lease terms and condition does not change and passes to the new owner.

Good Luck

well, my seller will pay the difference if the investor requests. there might be some room for the seller to pay additional things like CC also. i think that offering to pay the difference in rent is just a bonus, because most investors don't want to be negative for the lease payments. they usually want to be even or making some sort of positive cash flow. nevada is the same way. if the property is sold, the lease must be carried through until the end of the term. this situation would not affect the tenant in any way though.

My seller is on a government housing program so they pay me direct. I just found out today that by law after the first year I am able to terminate the contract anytime. The contract does not mean anything when it comes to getting them out! They told me I just have to advise them when the unit has sold. My tenant already started looking for another place since it takes a while for them to do all her paperwork. My listing stated tenant occupied until 2/1/07, now I want to change that. How should I word it? Tenant occupied willing to move?
Thanks.