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Updated almost 1 year ago on . Most recent reply
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Selling furnished multi unit
Hello I am considering selling my 3 unit and two of the units are furnished. I would appreciate feedback on the following:
Should I negotiate selling the furnishings separately? Is buyer obligated to purchase the furnishings (tenants occupy the units)? What are rights of owner vs tenants if new buyer wants to occupy one of the units as a condition of purchase?
Thank you
Most Popular Reply
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As far as negotiating furniture, I would include “furnishings negotiable” or “comes furnished” in a contract. To my knowledge buyer is not obligated to buy any furnishings that aren’t permanently affixed to the property. If the new owner wants to occupy property, he’s just a standard landlord that lives on property. In our contracts, there’s a paragraph that says whether or not the buyer plans on living there as their primary residence, for insurance and tax reasons