5 Ways to Prepare Your Multifamily Investment Property for Sale
How to Find a Buyer Quickly
No matter what anyone else might tell you, successfully selling an apartment building begins with making a good impression. Whether you are trying to sell a singular building or a multi-building apartment complex, it is important that you properly prepare your multifamily investment property for sale. Whatever your reason for selling is, rest assured that these 5 tips will help you find a buyer quickly and sell for top dollar:
Raise Your Rents
Most sellers struggle to get the most money from their multifamily investment because they do not take advantage of their property’s income potential.Raising the rent and increasing the value before starting the sales process can help you get the best offers. You can also implement monthly pet rent instead of one-time pet fees or refundable pet deposits to increase income and garner higher offers.
Assessing your property before the sales process begins can help you take note of any area that may lack visual appeal. Make sure that both the exterior and interior of your property are taken care of. Some areas you may want to focus on are landscaping, parking areas, painting and trim, and etc. A multifamily advisor can help you conduct a preliminary walk through to ensure that you do not overlook any issues that a buyer may see.
Price Your Property Correctly
Another way that you can ensure that you multifamily property will attract a buyer quickly and sell for top dollar is by pricing it correctly from the beginning. Many sellers make the mistake of trying to list their apartment building at a high price just to see if they can get it. Unfortunately, this may deter potential buyers and ends up costing the seller a lot of time. Instead, work with a multifamily investment advisor to ensure that you get the best offer right away.
Create a Due Diligence Package
Preparing a due diligence package can help speed up the sales process and encourage more buyers to make a faster decision. Having accurate information readily available for buyers to review also reduces their perceived risk of the unknown, therefore increasing the price they are willing to pay for your apartment. An experience multifamily advisor will help you create a thorough due diligence package that will include everything a buyer will want to know.
Market Your Property
Another important step to prepare your apartment building for sale is through marketing. The way your property is marketed will have an critical impact on its final sale price, so it is important that you work with an experience professional. A multifamily expert will help you employ strong marketing techniques and strategies to bring in higher offers in a shorter period of time.
At 100Units.com, our experienced multifamily advisors have closed more than $100 million in multifamily property transactions, building a vast network of domestic and international buyers whom are always interested in purchasing additional properties from us. If you are interested in selling an apartment building in Central Florida, contact us today and we’ll tell you exactly how we can help you get the most money for your property.