Listing Courtesy of PATTERSON-SCHWARTZ & ASSOCIATES
In a perfect world, before you set about selling your Rehoboth Beach property you would have emptied it of all evidence of human habitation, called in the best staging pros on the planet, and set off to vacation in a Caribbean island spa-hotel so you could sift through the dozens of offers in comfort.
“Let’s see,” you would soon be musing to no one in particular, sipping your first mimosa of the afternoon as you thumbed through the sheaf of faxes from your Rehoboth Beach agent; “should I accept this all-cash offer for 150% of comparable value—or hold out for this one for 200% of comp that came in with only 50% earnest money…?”
It is here where we might best depart from this reverie to point out that in this less than perfect world—the one that we actually live in—the more probable situation is one where your Rehoboth Beach property is fully occupied, either by your own family or a tenant.
How do you make the most of that mimosaless situation? If you and your family are the occupants, your Rehoboth Beach property fits the most common profile, so the standard to-do’s apply: you will want to clear the clutter and store any non-essential furnishings; de-personalize as much as practical; deep clean; and work with your agent to make showings as routine as possible.
But what if you have a tenant? It’s going to be a true balancing act that affects four parties: seller, listing agent, tenant, and buyer. Of these, the one with the least to gain is the tenant, who is paying for the privilege of tenancy while being asked to keep the property clean and showable on the others’ schedules.
Let’s face it: this could be a minefield. Almost any tenant’s interests lie elsewhere. In fact, they may very well like your Rehoboth Beach property so much they would just as soon discourage prospective buyers—and there are subtle (and less-subtle) ways to go about that!
One solution that is sometimes offered involves this creative procedure:
Compensate the tenant for their cooperation by offering a significant bounty (say, 20% of the monthly rent) to be placed in an escrow account. It’s a meaningful award for the tenant’s full cooperation—one that will grow with the payment of each month’s rent. It will be turned over upon the completion of the sale. This ingenious plan has the effect of reversing the natural order of things. Since the amount in escrow grows with each passing month, rather than becoming increasingly annoyed with each ensuing showing, the tenant is increasingly incentivized to make the property ever more appealing. There’s cash on the line! In fact, as the escrow account builds, who’s to say the tenant won’t start doing some arithmetic…and start considering becoming the buyer himself…???
In any case, the best results for selling your Rehoboth Beach property happen when there is rock-solid communication between the listing agent and owner—and when a tenant is involved, that’s another party who should be included as well. It’s the best way to insure that everyone can go about their business with a minimum of disruption and inconvenience.
If you are sizing up the coming fall market, whether your Rehoboth Beach property is occupied by a tenant or your own tribe, I hope you will give me a call to discuss how I can get the results you’re after! Call/Text me Russell Stucki at (302) 228-7871, email me at email@example.com, visit more listings at www.beachrealestatemarket.com.
Rehoboth Beach real estate investors include a subset that’s more common than you might think: the unplanned ones. The press calls them “accidental investors”—but that’s unfortunate. Let’s face it: when you read “accidental investor,” it conjures up mental images of a car crash. Or falling down stairs. Or failing to smell a gas leak…
The phrase is inappropriate. When you think of accidents waiting to happen, the last thing you think of is Rehoboth Beach real estate. Yet the phrase “accidental real estate investors” continues to pop up to describe individuals made property owners through happenstance—even though that turn of fate does, in fact, turn out to be beneficial. More than anything, that’s a happy accident!
Accidental real estate investors can be created because of any number of common situations. Sometimes, inheritance plays a role. If a family home is willed to children whose careers have taken them far from town, time may need to pass before a clear-headed decision is best made about the disposition of the property. Perhaps the accidental investor will ultimately choose to sell. In that case, because distance can cause a special complication, it’s important she or he team with a Realtor® who knows how important prioritizing communication can be.
In some cases, the “accident” involves a sudden promotion or other unanticipated life change calls a homeowner away from Rehoboth Beach for an extended stretch of time. Whether or not it’s clear that the owner will return, the best course of action could be to become an accidental landlord. That’s eminently doable when there are reliable property management professionals in the area—and Rehoboth Beach is fortunate in that regard. From rehabbing, painting, and renovating to screening potential tenants and handling emergency calls 24/7, I can help assure that potential landlords—accidental or not—have access to professional property management services that not only remove the burdens of remote ownership, but provide consultation services aimed at improving the ROI of ownership.
Town’s accidental real estate investors would better be described as fateful, or fortuitous, or even providential real estate investors—but that’s not going to happen any time soon. What might happen any time at all is your own decision to join the prosperous ranks of Rehoboth Beach’s intentional real estate investors. A deliberate, premeditated first step is to give me a call to check out the inviting possibilities that are out there this spring. They’re waiting, right now! Call/Text me Russell Stucki at (302) 228-7871, email me at firstname.lastname@example.org, visit more listings at www.beachrealestatemarket.com.