Preparing a Home for Sale Is Key in Fetching Higher Sale Prices

There is a strong demand for East Boston three-family properties. Large three-families, or small ones in good condition, are beginning to sell for over $300,000—most usually sell within three months. When selling a triple-decker, it is important not only to price the property correctly, but also to properly prepare the property and gather all necessary records in order to make the property attractive to buyers.

Most buyers in East Boston will want to live in at least one unit. If there is a vacant apartment, consider leaving it empty. If you are planning to sell a property three to six months from now, it is best to ask at least one tenant to move out. The increased sale price for having at least one vacancy will make up for any lost rent during the time the property is up for sale. Also, if you have tenants with children under 6, it is important to test the apartment and common areas for lead paint and obtain a certificate of lead paint compliance. If you currently have tenants, it is important to put rental agreements in writing (even if occupants are Tenants at Will), specifying who occupies the unit, rent amount paid, and who pays for utilities. It is also important to make arrangements with tenants to show the property to prospective buyers. If you have tenants living in an in-law or illegal apartment, it is important to vacate those units. Banks will not finance buildings with illegally occupied apartments.

Properties should be well presented. Basements, backyards, stairways and porches should be as empty as possible, and overgrown trees and shrubs should be cut. If an apartment is furnished, but no longer lived in, excess belongings and clutter should be removed except for sofas, tables, chairs, bedroom furniture and wall hangings. Heating systems should be serviced with paperwork provided to buyers. Leaky plumbing should be fixed. If an electrical box has fuses, consider switching to circuit breakers. If a roof leaks or a furnace is not working, it is worth replacing each of these items. Any money spent on preparation or repairs will be made up for in a sale price.

Please check back as we continue to update you on East Boston real estate happenings.  To see all our listings, or to search MLS properties, head to the Tony’s Realty Website.

Email Tony with your questions or comments.

.

Advertisements


%d bloggers like this: