Tired of being a landlord; Tenants shown interest to buy

[Account Closed]

Hi everyone!  I am seriously considering selling my property.  Even thought I am thankful to have had the experience my heart is not fully into being a landlord.  My property currently has tenants that do not pay on time. Their lease will expire 31 Sept.  I sent a notice of non lease renewal certified that they should receive by today.  Is there anything else I need to do with reference to non lease renewal?  I also verbally informed the tenants of my desire to sell and they showed some interest but wanted to know how much. I will also mail a notice so that I am abiding by Maryland Law as a Landlord.  I am not interested in making a profit but am only interested in being done with the responsibility of owning a home at the cheapest route possible.  Currently, I am not willing to consider a short sale.  So far I have called the mortgage company to request the payoff amount so I would know how much to tell the tenants I am willing to sell the house for.  I want to make sure that I give the number to them that will allow me to incur as less costs out of pocket as possible.  I found a sample of an intent to sell letter, but no samples on how to word an offer to buy letter.  Can anyone help me with this?  Please let me know if I am missing any steps as to make this process more efficient.  I would appreciate any advice as well.

Also, selling my home to the renters is not the last resort.  If my finances allow for the costs a seller incurs when selling a home, i will market it and sell.  If not I will find new, hopefully more dependable renters.  The last resort is to move back into the home until other decent options present themselves to me.

[Charles Morgan]

Do you know a realtor who can pull comps for you? That will give you a better idea of what it's worth. 

I hope you are not letting a bad experience with your first rental and first tenants sour you on the idea. You may want to consider turning it over to a property manager if it's just the headaches that have you down.