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Updated almost 9 years ago on . Most recent reply
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Should I rent a listed townhouse until it's sold?
I have a townhouse for sale that I am getting a little nervous about the length of time it will take to sell. Want to now anyone's thoughts or advice about agreeing to rent out the unit temporarily until it's sold. Full disclosure will be given about the circumstances of the listing and tenant will agree to vacate once it sells. I will give them the last 30 days rent free and the rent covers all the expenses and utilities. My second exit strategy is to convert to a rental although it hasn't been listed for long and I don't want to go there yet. Thanks for any tips or advice.
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@Rich Prestridge It depends on who your target buyer is. From my experience, it is harder to sell a townhouse to an owner occupant if it is rented. Owner occupants buy what they feel would be a good home for them. It is hard to elicit that feeling when your renters are living there. But if your target buyer is an investor. They prefer it to already be rented and "turn key".