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Updated over 3 years ago on . Most recent reply

User Stats

37
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8
Votes
Galit Garsiel
8
Votes |
37
Posts

Should I rent my apartment before selling?

Galit Garsiel
Posted

If I sell my apartment and live in a rented apartment while looking for a house to buy and flip, should I rent out my apartment in the meantime?

I mean, would it be a problem, showing potential buyers the apartment while the renters are in it? And it would have to be short-term, just until I can find the right house to flip. Renters usually want to stay for a whole year. 

I can't buy a house/apartment until I sell mine because I don't have the money to buy an apartment. 

Most Popular Reply

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66
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28
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Lisa Wright
  • Real Estate Agent
  • Metro Detroit
28
Votes |
66
Posts
Lisa Wright
  • Real Estate Agent
  • Metro Detroit
Replied

I'm assuming you are talking about a condominium.  

If you talk to a lender they will walk you through it.  Basically you will make an offer contingent on the sale of your current home.  I wouldn't rent it out because if someone is looking to buy they won't want to deal with renters.  Also, in Michigan, most condos you are not allowed to rent it unless a few rules are followed.  

Your best bet is to make your home beautiful.  Is the paint looking good?  Anything you can update?  (Lights, faucets...)  Clear out as much as possible so they can picture their stuff in there. 

Find a lender and get pre approved.  Then find a great realtor to help you list.  Im in the Detroit area if you are close.  Or happy to find you some good help.  

:)

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