How to sell a duplex the easy way
The process of selling a duplex comes with just as many strings attached as with selling a single-family home—and many more. There are repairs to make and financial documents to prepare for potential landlords and there are tenant and lease agreements to think about. And on top of all of that, there are fewer potential buyers—typically just investors and landlords.
It’s a lot. We’ll break down how to sell a duplex through the traditional model, realtor and all. But, if it seems like too much, there’s another way. You can hand the keys over to Wren Realty as is—without any repairs, inspections, showings or hassle—and walk away with our fair cash offer in your pocket. We’ll even handle unruly tenants and complicated lease agreements, leaving all the stress to us.
If you choose to put your duplex up for sale the traditional way, here’s what you can expect:
Repairs, and lots of them.
In order for your 2-family home to sell quickly, it’s gong to have to gleam with perfection. A leaky roof? You’ll need to fix it. Same with any foundation cracks. Getting the necessary repairs done will improve the value of your duplex, but in our experience, it’s really easy for people to sink more money into repairs than the repaired facility will be worth. For example, a person might sink $20,000 into repairs, but the repairs only improve the worth of the building by $10,000. For this reason, it’s sometimes better to sell a house needing extensive repairs as is.
Preparing your financial records.
Selling a duplex attracts different buyers than selling a single-family home. For investors and landlords, this is a business decision. They’ll want to see your financial records. If you haven’t kept track of property tax records, how much you collect in rent and how much you spend in repairs, then potential buyers might think purchasing your duplex is too much of a risk. We’ll make offers on any duplex in any condition without having to see past financial records.
Worrying about tenants and lease agreements.
Figuring out how to sell a duplex with tenants is complicated. You have to show the property, but even your most well-behaved tenants can be a liability. While you have financial motivation in making the duplex look its Sunday best for each showing, they have nothing to gain by helping you sell the duplex. This can make it hard to show your property to potential buyers. And unruly tenants or tenants that never pay rent might scare off buyers. Depending on your lease agreement, you might or might not be able to evict such tenants prior to a sale. Wren will buy properties with tenants—even the worse tenants—and deal with all the lease agreements.
Wren will buy your duplex as is. Rather than going through the hassle of the traditional duplex sale, you can sell to us and walk away. No worrying about financial records. No worrying about tenants and lease agreements. No worrying about making repairs. No worrying.
If selling your duplex as is seems like the right decision for you, then give us a call. We’d love to speak with you.