SellURHomeKC Posts

Selling Rental Property With Tenants in Kansas City

August 23, 2018 • Marko

Can I sell my rental property with tenants in it?

A house with a tree and driveway. Selling Rental Property With Tenants in Kansas City

Short answer – yes. Selling rental property with tenants in Kansas City is quite common and many landlords are faced with the decision to sell whether they like it or not. It can be a confusing procedure as your decision to sell affects one (or more) people. There are a few things you need to do in order to avoid complications and make life easier for yourself and your tenants. Dealing with tax implications, or evictions, can be very stressful for a landlord. In this article, we’ll also look at tenants’ rights when selling rental property with tenants in Kansas City and how can a landlord show a house while occupied. So here’s how to sell a rental property with tenants in it.

Selling rental property with tenants in Kansas City

I understand that not many can afford to wait for tenants’ leases to run out before you sell your house. Selling rental property with tenants in Kansas City is definitely possible – however, a clear communication needs to be established in order to proceed with selling the property. Here are some of the options you can take to sell your house with tenants on the lease:

  • Wait until the lease runs out.
  • Sell with an active lease

This is completely possible. A potential buyer might be interested in renting out a house in the first place – by leaving your tenant in the property, you’re providing the new landlord with a favor.

  • Cash-for-keys method

You might be wondering what that is – you pay your tenant to vacate. This is especially effective for those looking to sell their house fast. Depending on your relationship with the tenant, you can offer them help at moving, pay their security deposit or anything else you can think of.

  • Sell to the tenant

In the case of an unwanted property and not wanting to deal with going through viewings, you can sell to the tenant if they are interested.

  • Send an early termination notice

Depending on the state, these notices need to be sent out a month or two months in advance to give your tenant enough time to find a new home. If your tenant violated any parts of the rental contract, you can terminate their lease instantly.

House viewings while renting out the house

Vintage books stacked on a shelf. Selling Rental Property With Tenants in Kansas City

Can a landlord show a house while occupied?

Here’s how to handle house viewings while your tenants still live in the property:

  • Communicate all dates and times with the tenant
  • You must get consent at least 24 hours in advance
  • All communication must be done in writing
  • You must not take photographs of the property and personal belongings without the tenant’s consent

Please note that your tenant is legally allowed to refuse viewings or visits for an agent if they do not agree with the times of the viewing. To avoid legal issues, you must respect their decisions and act accordingly. A tenant has as many, if not more, rights as the landlord when it comes to selling rental property with tenants in Kansas City.

Tenant’s rights when selling rental property

Depending on the state or country you are renting out your property in, tenant-landlord rights might be different. As a legal landlord, you should always be clear of all tenant’s rights when selling rental property with tenants in Kansas City.

  • 60-day notice is required to be given to the tenant once the landlord decides to sell the property.
  • 14-day notice is required to be given to the tenant before a first viewing is scheduled.
  • The tenant needs to be aware of all dates and times of viewings.

Unless the tenant gives their consent,

  • You must not enter the property before 8am or after 8pm.
  • Schedule an appointment on a Sunday or holiday.
  • You are not allowed to take photos of the tenant’s personal property.
  • You must not put up the ‘for sale’ sign.
  • You must not hold an auction on the site.

What happens if a tenant is uncooperative?

A man with his arms stretched out against a window with sunset in the background. Selling Rental Property With Tenants in Kansas City

If the tenant refuses house viewings, you must arrange a time that’s best suitable for them. If they are refusing to communicate, you can apply to the court.

If a tenant refuses to leave the premises, see the cash-to-keys method I mentioned earlier or try the eviction process. Your other option is to evict the tenant.

So how do you evict a tenant?

  • Give notice.

You are legally obliged to give notice to your tenant.

  • Possession order

If the tenant doesn’t move out on the time of your notice you are allowed to seek possession order at the court.

  • Get professional notice servers

When giving an eviction notice, bring a witness with you.

  • Take it to court

Consider taking it to court if everything else fails.

MY TIP: Communication is key. Make sure your tenant receives everything in writing and don’t promise what you can’t deliver. As much as you’d like to sell your house fast, make sure your tenant is happy and agrees to the decision. Selling rental property with tenants in Kansas City can become a headache if not done properly.

Sell Your House to a Cash House Buying Company

So, you’re selling a house, huh? Why not sell it FAST to a cash house buying company? I accept houses with repairs and give you the opportunity to save on commission and to not worry about estate agents. You will receive a quote in just 24 hours.

SellURHomeKC gives you a cash offer within one day and you can close it whenever you want. Your house can be sold in a week!

If you need to sell your Kansas City area house fast and would like to get a no-obligation cash offer, call us now at (913) 428-0957. Whether you decide to sell your house to us or not, we would like to help answer questions you might have about the process.
 

The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.

How to Evict a Tenant Quickly in Kansas

August 16, 2018 • Marko

Here’s how to evict a tenant in Kansas.

Please understand that when you have to evict a tenant anywhere can come with a lot of hard work on your part as the landlord.

When dealing with rental houses, there are lots of potential issues that can arise. Things like tax implications, and evictions are common. Evicting a tenant can add stress to a landlord’s life.

It also will require you to understand the laws concerning evictions and tenants rights. Those that are new to rental property often have a tendency of forming a tenant friendship. When it comes time to learn how to kick a tenant out, it becomes a very stressful situation…especially if the tenants are relatives. Yikes!

evict a tenant from a house

How to Evict a Tenant Quickly in Kansas

Having to deal with evicting a tenant can often be avoided. This can be done through the proper pre-screening and choosing of tenants to begin with.

However, no matter how careful someone may be, circumstances can change. There can be a variety of reasons of why you may have to learn how to evict tenants.

What has to be realized is that your rental property is a business to you and you will have to conduct it as such. This means that you will have to know how to evict tenants when and if the situation arises.

How To Evict A Tenant Not Paying Rent

Often a landlord has to go through the eviction process because the tenant is not paying their rent.

Evicting a tenant not paying rent is not something that you should wait to learn about. If you do find yourself in that situation, you might consider selling the rental property with tenants still there.

As a landlord, you really want to learn what the rules are that pertain to the landlord and tenant act. You also want to learn the eviction laws. Knowing these makes it much easier when you have to kick a tenant out. These should be learned when first drawing up the lease agreement.

house to evict a tenant

Eviction Laws

The eviction laws will differ from state to state.

Even if you are familiar with one state make sure that you know the laws for the state you are renting your house in. How to evict a tenant in Kansas will most likely be different than other states.

When it comes to evictions, it’s best not to do it on your own. It can become so frustrating that landlords start removing items from the tenant’s home. Or change the locks. Or they may shut off the critical essentials like the electric, gas and water. These may be all measures that would possibly get your tenant to vacate…but can be illegal.

You need to go through the proper legal recourse that is in place for you to evict your tenant.

When it comes time to go to court you want to show the courts that you have abided by all of the rules. You  should not have been vindictive in any way. This could cause the judge to show more leniency towards the tenants.

One of the reasons for trying to figure out how to evict a tenant in Kansas is because of failure to pay rent…obviously, if they don’t pay they shouldn’t stay.

Other Reasons to Evict a Tenant

They may have violated the lease agreement or they are causing damage to your property.

It could also be that they are a hindrance to your other tenants. This could be by causing noise disturbances or health issues.

evict a tenant rental property

Whatever the reason may be you have to ensure that you have the proof and that it is well documented. It could be you happened to learn that you are in a gray area of the law when it comes to how you approach your eviction of a tenant.

You may want to try and approach your tenant asking them to leave in a polite way. This may be done  without having to go through the entire legal process. In many cases this doesn’t usually work and you will need to learn how to start the eviction process.

How To Start The Eviction Process

Evicting a tenant in Kansas requires you to start the eviction process.

The first thing you’re going to want to do is give a formal notice of eviction. This is after you have definitely determined that you have the grounds for eviction.

In many cases the notice of eviction has to include the reasons why the tenant is being evicted. It should include what they could possibly do to avoid this. It may be that the property has been unkempt. If they comply and clean it up then the eviction will no longer be in place.

You also want to make sure the eviction notice includes the deadline. It should also contain any amounts of money including all fees that are owed. There may be a specific number of days that you have for filing this paperwork with your local court office. The eviction notice should be taped to the tenant’s front door as well as sent by certified mail.

learning how to evict a tenant

In most cases you will need to file your eviction with the courthouse. Then you should be given a hearing scheduled date. The courts should also notify the tenants by way of  summons about this. You will most likely have to show that you have served the eviction notice in the proper manner.

Evict a tenant in Kansas means preparing yourself for your court attendance. Make sure that you have all of the pertinent documentation for the rental property for this tenant. This includes your lease agreements and all your records of payment. Any communication that you may have had with the tenant should be documented. You need  a copy of written notice and your proof that the notice was served. If you have checks that have been classed as NSF these also should be part of your documentation.

There will be a specific time allotted that the tenant will have to leave. If the tenant doesn’t comply then the Sheriff’s department can step in. This is to ensure that the court orders have been carried out. Tenant eviction is not a pleasant or easy task but is one of the responsibilities that come with this type of business. Knowing all the rules and regulations makes it a much easier process.

 

Skip the Headaches of Evicting a Tenant, Sell the House Fast Instead

Why go through all that’s required to evict tenants? You can skip the drama and headaches by selling your rental property and getting a cash offer from a company that buys houses in Kansas City. SellURHomeKC can make you a cash offer within a single day…even if there are tenants living in the house. Give us a call at (913) 428-0957 and we’ll gladly talk with you about your situation and make you an offer to buy it at no charge.

 

The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.

Taxes for Selling Rental Property in Kansas

August 9, 2018 • Marko

Understanding the taxes for selling rental property is an essential step to know when you’re thinking about selling a rental house. Selling a rental property comes with many steps, questions like “should I sell my rental property?”, and complications which may also involve tax implications. The taxes for selling rental property in Kansas can be incredibly confusing for plenty of reasons, but don’t worry – I’m here to help you out. In this article, we’re going to look at taxes on selling rental property in Kansas, how tax sales work, how to avoid paying capital gains, capital gains tax on sale of rental property, capital gains tax on sale of your second home and more.

Let’s go.

How taxes for selling rental property in Kansas work?

If you’re completely new to the real estate business and taxes on selling rental property in Kansas, you might be asking yourself how taxes work in the first place.

Calculator, paperwork and pen. Taxes For Selling Rental Property in Kansas

Here’s how:

HowStuffWorks states that each property is divided into assessment areas or assessment units.
The value of a property is determined by a tax assessor through property tax assessment.

“For example, the Rose City government has a $6 million budget and receives $3.5 million in sales tax revenue and state aid. Rose City needs to raise $2.5 million in property taxes to cover the budget. $6,000,000 – $3,500,000 = $2,500,000”

Some of the property cost can be recovered with depreciation.

What is depreciation?

10 and 20 euro bank notes and coins. Taxes For Selling Rental Property in Kansas

Depreciation is a tax deduction which allows you to recover costs of a particular property.

Residential rental properties can be depreciated over 27 ½ years with MARCS system or 40 years with an alternative system.

You cannot claim depreciation.

What happens if property taxes for selling rental property aren’t paid?

If your property taxes aren’t paid, you could face a fine and have your property seized. Not paying your taxes could also reflect badly on your credit score, making it difficult to purchase further properties. Please consult with the IRS Publication 594.

How to avoid paying capital gains?

Forbes identifies 14 ways to avoid paying capital gains when it comes to taxes for selling rental property in Kansas. I’ll cover 5 most important ones.

Stock exchange
Those with a good credit and appreciated securities can apply for a stock exchange with services who trade their stock with a diversified portfolio (however, equally valued). Who uses this option? Investors who are looking to avoid paying large capital gains on taxes for selling rental property in Kansas.

Health Savings Accounts
Contributing to health savings accounts will also mean you are able to receive a tax deduction. Please note that you might have to do more paperwork and no economic value can be gained from this.

Move to a lower tax bracket state
State taxes are different and depending on where you live, you can avoid paying state tax or lower it.

Give stocks to family members
You can give some of your stocks to family members in lower tax brackets. This is one of the most beneficiary ways to avoid paying capital gains.

1031 exchange
What is 1031 exchange? It’s another way to avoid paying capital gains – within 180 days of the sale you can roll your proceeds into a similar investment type. Please note that the rules to this exchange are very complex, however, by doing the 1031 exchange you can without a doubt avoid paying capital gains.

Coins.Taxes For Selling Rental Property in Kansas

How to make capital gain or capital loss when you sell?

Capital gains or capital losses are made everytime you sell a rental property, unless the property was bought before 20th September 1985. These gains or losses can also be made from capital improvements since the acquired date .

The amount of your capital gain depends on the capital gain tax rate and as a result, according to Forbes, many gains are, in fact, never taxed.

If you co-own a property, capital gains or losses are made according to your property interest.

Capital gains or losses can be dismissed in the case of a rollover.

What is a rollover?

Rollover (disregarding a capital gain) applies in the case of a destroyed property or property which was transferred to a former spouse.

I need to sell my second house – what are capital gains tax on sale of second home?

The capital gains on sale of second home depend on the state you live in and how long you’ve lived in the house. Qualifications for partial exclusions are favorable, especially in the cases where you have rented your property for a certain amount of time while treated it as a residence prior to that.

The duration of the time you have to live in your second home and then rent it out depends on your state – for more information, contact your lawyer to make sure you receive correct information.

Sell Your House to a Cash House Buying Company

Ready to sell your house FAST?

SellURHomeKC is a cash buying company, ready to take your property off your hands. The property you want to sell needs repairs? Doesn’t matter – we’ll be happy to sell it regardless of its state. Give me a call and you will receive a cash offer in just 24 hours. Your house can be sold in a week!

If you need to sell your rental house now, and would like to get a no-obligation cash offer, call us now at (913) 428-0957. Whether you decide to sell your house to us or not, we would like to help answer questions you might have about the process.
 

The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.

Tax Implications When Selling Rental Property in Kansas

August 2, 2018 • Marko

Considering a Sale of Investment Property?

There can be plenty of reasons for wanting to. If you do, you need to be aware of the tax implications when selling rental property. There’s a lot to know…so let’s get started.

The sale of investment property requires considering the tax implications when selling rental property.  Make sure before making the final decision to sell your rental property that this is what you want to do. Dealing with the tax matters can be complicated and expensive.

tax implications when selling rental property

Tax Rules When Selling Rental Property

The first thing you are going to want to become familiar with is the tax implications when selling rental property. This is going to involve capital gains or capital losses. The tax implications involve this area of the tax laws.

Taxes on selling rental property are going to include taxes at both the Federal and State level.

The difference between the sale price and the adjusted tax basis determines capital gains.

A rental property tax calculator can help determine this.

Capital gains can pertain to either short term or long term gains. This helps to determine what your selling rental property tax obligations will be.

Sometimes individuals purchase rental property and discover it’s not for them. Then they want to sell it within the year. This is considered short term so if sold at a profit then it would be taxed as short-term capital gains. Usually, this is taxed at the standard income tax rate.

Property held for longer than one year is subjected to a different tax rate. This is a long-term capital gain. The rate can range between 0% to 20% but most often falls within the 15% range. Again you can use a selling rental property tax calculator, to help you estimate the tax implications when selling rental property.

Selling rental property tax expenses determines the basis of the rental property. This usually is the amount that you paid for the property.

Plus, additional expenses that you incurred to make the sale. If events occurred that decreased  value then you can likewise decrease the basis amount. At the same time if you improved the property then you can add the value of these improvements to the basis.

There are some advantages to an increased basis as it can help to reduce the amount of taxes you will need to pay. At the same time, you can enjoy an increased tax deduction with a capital loss.

Possible Tax Deductions When Selling Rental Property

Pay close attention to rental property tax deductions when you are going to sell. You will still have your regular tax deductions for this property up until the time that you sell it.

It may be that when you are selling the property you are not going to realize a profit. This is going to put you into a capital loss situation.

You will be limited as to the amount you can deduct for this loss. You will be able to carry the loss forward for a specific number of years. Just as there are short term and long term capital gains the same applies for capital losses.

comfortable living room with sofas

Owning the property for less than one year constitutes a short term loss. Whereas longer than one year is a long term loss. You will need to look at the current year’s allowable deduction limit for the capital loss.

You may also be able to qualify for passive losses. These could be included with your selling rental property tax deductions.

These losses occur when your property losses in a given year exceed the rental income. There is a cap on as to how much you can claim each year, but these losses may be able to be carried forward. When you sell the property you can apply any of these unused losses that occurred during the sale year.

One advantage you may want to take advantage of is selling your investment property and buying another.

It would have to be in the same category as an investment property. This applies to the 1031 tax rule. It can be complicated so you would want to rely on professional advice regarding this.

Some individuals sell their investment property so they can pay down their primary residence mortgage. This can create some substantial tax liabilities.

Tax Implications When Selling Rental Property

Researching your tax obligations when selling your rental property involves becoming aware of the law. This includes knowing the tax consequences that effect tax implications when selling rental property.

wood house with a green bike

Property depreciates and the IRS realizes this so they have rules in place. This pertains to how the calculations are handled for your depreciation deduction. Basically, the rules are that depreciation applies over a 27.5 year period. So each year a portion of this can be used as a deduction against the profit you are making. It works out to  3.636% per year. Improvements have to be calculated into the depreciation formula.  Looking at rental property tax legalities when selling may mean other things to consider.

If you have been claiming depreciation you may be subjected to depreciation recapture tax.

Another area that includes potential tax consequences of selling a rental property is incurring the new Net Investment Income Tax. If this applies to you then you may have to pay an additional 3.8% on your net investment income. This is applicable to specific thresholds and deals with capital gains.

Being as this is not your principal residence you are not eligible for the capital gain exclusion. Which usually amounts to  $250,000/$500,000.

Selling Rental Property Taxes Implications Summary

rental apartments

You must be familiar with the various tax laws during the sale of investment property. This is so you don’t make any mistakes when determining what your profit will be after taxes.

You will most probably want to use the services of an accountant to assist you with this. Although you can use the selling rental property tax calculator. This will give you a good idea as to what your selling rental property tax figures will be. If you are really familiar with the tax laws and tax implications when selling rental property, you can use tax accounting software to help you file your taxes pertaining to your rental property sale.

 

Ready to Sell?

If you’re interested in selling your rental property give us a call at (913) 428-0957. We buy houses in Kansas City and pay cash so that you can sell your house fast. Give us a call!
 

The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.

Selling Rental Property in Kansas City, KS

July 26, 2018 • Marko

Selling rental property in today’s market can be complicated. Knowing when to sell your rental property is just one of many questions you might have. Even though asking prices are breaking record highs, selling your home is a daunting task for most homeowners.

Listing, updating, and advertising your home costs both time and money, and hiring realtors can slow your move-out time exponentially. But what about the added pains to selling an income property? Believe it or not, selling rental property in Kansas City, KS doesn’t have to be a months-long nightmare.

selling rental property

Selling Rental Property: The Right Time

Like most ventures, selling rental property in Kansas City, KS is all about timing.

Determining the right time to sell your rental property means considering a multitude of factors. Selling a Kansas City house is not only more complicated than purchasing, it also requires more risk. According to some experienced in home-selling, “choosing the right time to sell a rental property may be more crucial to your success… then your initial decision to purchase it.” With that in mind, consider these factors when selling rental property in Kansas City, KS.

Before selling, evaluate the current state of your rental. Rental properties are notorious for being hard to manage, even with an attentive and well-meaning landlord. Whether it’s a lack of cooperative tenants or the inability to foresee the emergence of major repairs, a rental property can fall into a state of disrepair fast. Needing major repairs without having access to the home or funds set aside for them can create a massive financial loss that’s unappealing to most rental property owners. It may be time to sell.

office table with white chair and wooden floors. Selling Rental Property in Kansas City,KS

Does your property generate a negative cash flow? Does it cost more to own and maintain than the income it produces? Even rental properties with the highest rent in the best neighborhood can be too costly to keep.

Owning the ideal rental property in Kansas City, KS means paying for property upkeep, taxes, utilities, insurance, among other monthly expenses. Your renters are paying for residence in the best area, but you’re paying more for maintenance and management. After expenses, is the bottom number adequate, or can you yield more revenue in other investment opportunities?

Like most markets, the renter’s market is fickle. A good year for rental property owners can mean increased appreciation and profit. But a market downturn can hemorrhage your savings. A once profitable piece of property can become an anxiety-inducing nightmare. Consider your long and short-term goals. If you envision your investment as more of a financial liability than a guarantee, it’s time to consider selling a rental property in Kansas City, KS.

Selling with a Tenant

So you’ve decided to cut your losses and sell your rental property. Now, what? If you have current tenants, you might be wondering about the complications concerning selling your rental property with tenants.

Rooftops selling rental property

Even if your tenant is one of those rare, dream tenants – they’re tidy, never call after hours, and care for your property like it’s their own – selling your rental with a pre-existing tenant is more of a hassle than selling an empty home. “If you want to sell your house with a tenant for the highest and best price, even the best tenant can be a detriment,” warns realtor Bill Petrey. This is partly due to a tenant’s lack of incentive to keep the property in showroom condition to impress and woo home buyers.

Having a tenant is also a deterrent for many potential buyers. Like it or not, when you’re selling rental property with tenants you’re selling rental property with tenants lease. You reduce the pool of potential buyers. Some home buyers can wait until a tenant’s lease is expired to move, and will buy your property without worry. But most want homes that are move-in ready the day of closing. Unless you’re trying to attract landlord buyers and other investors, selling a home with a pre-existing tenant can be limiting.

But there’s an upside to selling rental property with tenants. You can combat the negatives by enlisting your tenant’s help with showing your property to potential buyers!

By communicating with your tenant, you gain the possibility of making them more amenable to showing your home, an inconvenience no one likes during the selling process.

Some rental property owners even offer tenants a reward for keeping the home in peak condition. These rewards can include lowering their monthly rent or giving them gift cards to spend the day of a showing. “The success of dealing with a tenant during a sale is less about the message itself, but in how the message is delivered,” explains Zillow’s Brendon Desimone.

Selling tenant-occupied property can be tricky, but it’s certainly not impossible. While some buyers avoid tenants, others flock to the chance at owning a rental property that produces consistent  income day of sale. If you can offer your tenant an incentive for the inconvenience of showing your property and helping with the upkeep, you’ll generate more potential buyers. More buyers mean more bidding, and more bidding means procuring top dollar when selling a rental property in Kansas City, KS.

selling rental property old house

Selling at a Loss

When selling a rental property, it’s smart to consider the taxes imposed on your capital investment. It might be the least of your worries, but you must pay tax on any profit you earn while investing. It’s your selling rental property taxes.

If you’re selling while the market is favorable, your overall equity has increased, or you’ve lacked any major vacancies since renting your property, expect to pay a capital gains tax. The tax signifies your rental property’s ability to earn a positive cash flow and is considered a positive consequence of selling.

But what about selling rental property at a loss? Although very few investors buy property to lose money, it happens quite often. It’s one of the major risks of real estate. It can happen for any number of reasons, including a property-specific problem or the market losing equity.

Selling at a loss means the property drops in value causing you to lose money when selling. No one wants to sell at a loss, but sometimes it’s inevitable. It doesn’t have to be a negative consequence of selling, though.

According to Turbo Tax, “losses from selling rental properties generally receive favorable tax treatment.” If you owned your property more than a year, you can file for a Section 1231 loss. This specific loss can be used to reduce any type of positive income you’ve accrued. If your Section 1231 loss is large enough and it reduces all other income below zero, you obtain a Net Operating Loss (NOL). While taking a huge financial loss is generally considered bad, it can be a blessing for tax purposes. An NOL can be carried back for at least two years, offsetting taxable income and allowing you to regain the taxes you paid those previous years. An NOL can also be applied to future tax years and counter net gains for up to twenty years!

apartment building selling rental property

Selling rental property at a loss is a short-term loss, but it offers long term gain. If you purchased your rental property with a mortgage, you’re able to pay off your mortgage with a short-sale, even with an overall loss. If you own the property outright, you can take the loss but garner great tax benefits that last well after your close. Selling rental property at a loss isn’t only a viable solution to selling your investment, but can be a strong business plan to invest in future properties.

Selling rental property in Kansas City, KS doesn’t have to be stressful when considering all the factors before closing. Is it the right time to sell? Do you need to sell with tenants? What are the tax benefits to selling? If you can answer these questions with assurance, selling your rental can be an easy decision with multiple benefits.

Get a Cash Offer For Your Rental Property

Interested in a faster option? SellURHomeKC can make you a no-obligation cash offer within 24 hours to buy your rental property in Kansas City, KS.

If you want to find out more, do not hesitate to call us directly at (913) 428-0957. We looking forward to talking with you.
 

The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.

Should I Sell My Rental Property in Kansas City, KS?

July 19, 2018 • Marko

At some point in time you may end up asking yourself should I sell my rental property in Kansas City, KS?

There can be several reasons why this question is being raised. When it does arise you are going to find that it leads to many other questions. This now means giving some serious thought to the answers so that you can move forward confident that you’ve made an educated decision.

sell my rental property

Should I Keep Or Sell My Rental Property?

Let’s look at the pros and cons to selling your rental property.

 

The Benefits of Keeping the Rental Property:

You are probably aware of the benefits of having rental property.

Otherwise, you would not have entered into this type of real estate adventure. The question is are you still reaping those benefits? Or are the benefits just not worth the time and work involved?

The benefits can consist of…

  •  Extra income from the rent collected that can be put to good use.
  •  You have a property that will build in equity.
  •  It can be alternative to selling if you have a personal interest in the property.
  •  It provides additional security by way of additional income.

red door with bushes and wreath. sell my rental property?

Then at the same time you are asking should whether you should keep or sell your rental property that has tenants you have to look at the downside of being a landlord.

  • Having to deal with tenants.
  • Dealing with legal issues.
  • Having to maintain and upkeep the property.
  • The time and effort.
  • Potential tax consequences of selling a rental property.

If you’re thinking of selling, you’ll probably want to consider selling your Kansas City house fast.

Should I sell My Rental Property Now?

If after coming to the decision that yes you are ready to sell your property  you will need to ask yourself, when should I sell my rental property? It may be because you are contemplating this that selling it now may be an option.

This is going to depend on a lot of factors which includes your reasons for deciding to sell.

garage door to sell rental property in Kansas City

Should I sell My Property to Pay off Debt?

Should you sell your rental property in Kansas City to deal with a heavy debt load? Great question!

Now you are faced with a more specific question like should I sell my rental property to pay off debt?

To find the right answer to this question you are really going to have to do some financial figuring.

You need to look at all the costs of the rental property and what is the profit from the rental unit.

Then you need to look at the cost of your interest rates on your debt and see what you would be saving if these were cleared. There are other factors that you need to take into account as well… like the long term value of the rental property over time.

Should I Sell My Rental Property at a Loss?

You might have a solid reason to sell your rental property even at a loss.

Then you may have to ask yourself, “should I sell my rental property at a loss?”

This can be really disturbing as nobody likes to lose money. The one advantage may be for tax purposes where a loss can be realized.

Depending on the real estate market at the time you may not have a choice if you need to sell the property quickly.

a house with a window and three flower pots. should i sell my rental property?

Can I Sell My Rental Property with Tenants in it?

Can you sell a rental property with tenants in it?

There are pros and cons to selling your rental property when the tenants still live there.

With tenants in place you are showing the property is generating an income. It saves a potential new buyer from having to find tenants. The downside is dealing with the tenants during the sale process.

Some tenants will cooperate where others won’t. When the property is on the market it means that the realtor is going to have to show it. Tenants may find this an inconvenient and will try and make it difficult for showings. Or, they may not tend to the property properly and it won’t show at its best. To answer this question you are going to have to really know how your tenants are going to react to the sale. You can also discuss the pros and cons with your Realtor who is experienced in this.

To find out more about selling a rental property with tenants please read this article.

It really just boils down to what makes the most sense for your circumstances

You can do this by looking at your personal circumstances. Make sure that when making your decisions to think about the long term of your actions.

You may be in a temporary financial circumstance that needs addressing. Selling the property could maybe help with this. However, would doing this put you at a bigger disadvantage later on down the road?

Be sure to rely on the right professionals when you decide to sell your rental property. These are experts like a Realtor or a cash Kansas City home buyer.

They can help answer the questions you are faced with. Their advice can help you take the right steps in regards to a sale. Also, if you are feeling frustrated over your rental property this may be temporary and you don’t want to make a hasty decision because you may be having a bad day.

Then there are times when the housing market is really booming and you may decide this is the best time to sell. Consider the reasons why you entered into rental property and see if this has changed.

 

Get a No-Obligation Cash Offer

If you want to see what this option can do for you, feel free to call SellURHomeKC at (913) 428-0957 right now. There is no-obligation so it won’t cost you anything and you can consider the offer to buy your rental property as something to consider.

Thanks for reading and I hope this article helped you to understand your options better.
 

The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.

How Can We Buy Houses Help You?

July 18, 2018 • Marko

If you need to sell your house in the Kansas City area, but you don’t have the time to wait for an agent to list it or to sell it by owner, give us a call! We buy houses all over the Kansas City area. We pay cash for houses as-is and we close within a matter of days. In some cases we have closed sales in as little as three days.

This post will cover some of the different house buying situations that we specialize in. While we mainly deal with these types of situations, we buy houses under many other circumstances as well. You can visit our main page to learn more about our process and how to get it started.

Do you have too many repairs to make?

we buy houses help you with repairs
Whether repairs are voluntary or involuntary, their costs add up in a hurry. We’ve heard many stories about small home repairs turning into remodels because of wood rot and outdated plumbing. If you live in an area near lots of water, you may find yourself making more repairs than you’d like. Flooding and storms constantly keep you busy with your house. Arid places like Kansas City also have their drawbacks. Normally there is a lot of leveling and roof work to be done. We buy houses all of the time that require repairs. We actually prefer them!

Have you inherited a house?

We buy houses that have been inherited, no matter what the circumstances. Whether you inherited a house though probate court or other less common ways, we’re interested in buying it. Inherited houses come with taxes, repairs and a houseful of extra stress. Why not get cash for your extra house and lose the headache?

Are you currently going through divorce?

we buy houses help you with divorce
Divorce is a tough thing for anybody to go through. More often than not, couples who just want to move on with their lives end up having to share a portion of it due to home ownership. Since we pay cash and close fast on houses, we offer the perfect service for getting rid of your home and moving on. The day that we close you will have money in your hands to help you get started with the next chapter of your life.

We buy houses before foreclosure.

Foreclosure is another one of those tough situations that some home owners have to go through. Once again, the services that we offer are the perfect way to help. We can make you a fair offer on your home that could possible cover the amount that you owe for foreclosure and give you the chance to start over in a new home. If you are currently in pre-foreclosure, let us buy your house before it hits foreclosure!

Is land lording too much to handle?

we buy houses help you with landlording
We buy houses from landlords all of the time. Being a landlord is tough business. There are vacant properties to worry about, questionable tenants to deal with, and the month to month cost of insurance and taxes on your properties. If you feel that land lording is something you want to do less of, or stop doing all together, give us a call. Whether they are occupied or not, we’d like to make you an offer on it.

Do you need to re-locate?

Many people have jobs that require them to change locations every few years. This can make selling your house more stressful than normal circumstances. When there are deadlines than need to be met it adds a whole other level of frustration to the process. Our ability to close fast makes selling convenient for you. You’ll be able to use all of the extra time saved by selling to us to move at a comfortable pace.

What does it all mean!?

we buy houses help you with financial freedom
We offer the most convenient and stress free way to sell your house fast and at a fair price. We buy houses all of the time from people listed in the above situations and some that are so unique that they don’t fall into any one category. We are house buying professionals who offer professional assistance. If you are serious about selling your house fast and need our help, we are more than willing to provide it!

The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.

House Investors That Buy Houses for Cash in Kansas City

July 11, 2018 • Marko

You’ve probably heard of them before – house investors that buy houses cash in Kansas City. SellURHomeKC is one such company.

But what exactly are the benefits of house investors? Why is it becoming such a popular option? There are definitely advantages to house investors and many see it as a better investment of their time to go with one when they want to sell their house fast.

In this article, we’ll look at pros and cons of selling your house to a real estate investor so you can get a full picture of the business and what to expect when dealing with real estate investors.

house investors

All you need to know about house investors that buy in cash

Being a real estate investor is a fantastic job for those who enjoy networking and are extremely good at real estate sales. But do you know everything there is to know about real estate investors? Have a look at some pros and cons of house investors!

Here are the pros of working with investors that buy houses cash

Pros of house investors:

house investors

  • You won’t have to pay real estate commissions.

Normally, agents will charge certain commissions for using their service. Completely understandable. But house investors don’t and yet they deliver the same service, except faster.

  • They will help you update and upgrade your property.

And you won’t have to worry about any of this – unless you wanted to.

  • They offer flexible payment options.

By offering a variety of payment options you will be able to sell your house fast regardless of your financial state. Alongside, you will also be able to avoid foreclosure.

  • We are able to pay cash and sell your house fast

‘As Is’ sale means that your house can be sold without providing a warranty or being on the hook for problems with the house. You will be able to save a lot of money as well as time. House investors that buy houses cash do not need a warranty. They are getting a discount on the house and know it needs repairs.

  • No hidden fees.

Investors have no hidden real estate fees. This makes it easy to get a good price on your property.

Cons of house investors:

cons of real estate investors

  • They don’t need a license to buy

It might be hard to do a background check on the person selling your home, however, you should still be able to check reviews of the house buying company to make sure it is legitimate. A reputable house investor should provide you references and be honest and upfront about their business.

  • Scammers are out there!

It’s a popular way for scammers to make money off of innocent people. There are some we buy houses scams out there. So how do you make sure your real estate investor is legitimate? You should be able to look up any agent with the Better Business Bureau. An honest real estate investor will also be open to answer any questions you might have about the house selling process.

  • You might get less money for your house

Due to purchasing your house ‘As Is’, this usually means the value of the house will go down. However, due to so many hidden costs of real estate agents, you will often find that cost-free house investors are actually a better option as you roughly end up with the same amount of money as you’re not going through the usual paperwork process.

Investors that buy houses cash need to buy at a discount so that they can cover the unknown expenses they may incur.

6 things every house seller should know

things to know when selling your house

  • Give yourself time

Unless you want to sell your house fast, house selling is often a long process. Give yourself time to make sure things go the way you want them to and that you can sell for the value you want. You will need to be patient – it’s part of the game.

  • House viewings are a tiring process

Apart from keeping your house clean at all times, pet-owners will also have to keep an eye on their animals – or better yet, keep them away from the house during a viewing. You really don’t want your dog to run crazy around the house as your potential buyers are looking around. Warning: there will be a lot of time wasters.

  • But house viewings are also important

When preparing your house for a viewing, you should go beyond just hiring a cleaner or cleaning the property yourself. Sometimes painting the facade, decorating or even keeping the house warmer than usual during the viewing can help speed up the process.

  • Good photos are the secret to success

When you list your property, you need to make sure your photos are fantastic. They are the first ‘house viewing’ people will get – so either brush up on your photography skills or hire a professional who will help you take absolutely perfect pictures. Trust us – you’ll be thanking them later.

  • Get help when you need to

Everyone thinks they are able to sell the house by themselves. But are you really? Do you know the best ways to put your house on the market? Are you familiar with the tricks of the trade and know the real estate lingo inside out? If yes, good for you. If no, don’t worry – our blog is a fantastic resource with plenty of valuable real estate information that will help you make a right decision.

  • You can sell your house in just 2 days!

With SellURHomeKC, your house can be sold in 2 days if necessary. We buy houses. Got repairs? Doesn’t matter. We buy houses for cash as-is!

house investors

Give us a call at (913) 428-0957 or fill out our form – you will hear back from us with a cash offer in less than a day and you can close it whenever you want. Your house can be sold tomorrow, in a week or even in a few months – it’s up to you.

We’re also here to answer any questions you might have on the house selling process, avoiding foreclosure, selling your house with tenants still in it and much much more. Give us a call on (913) 428-0957 and sell your house fast!

The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.

Sell Your House Fast in Kansas City

July 4, 2018 • Marko

Selling a house fast is often an added unexpected stress, but it doesn’t have to be. Did you know you can actually sell your house fast and never have to worry about anything, including repairs? Yes, you can sell your house fast in Kansas City!

In this article, I will cover everything you need to know about house buyers and the process that enables you to sell your house fast. We buy houses cash – scroll to the bottom of the page to find out how to contact us and start the process today. But for now, let’s get started.

Ways to sell your house fast

sell your house fast

You can sell your house extremely fast by going through a house buying company and here are steps you need to take to make sure the process will run smoothly and without any issues.

1. Research house buying companies

When doing your research, always make sure that the house buying company you choose, which advertises to sell your home fast, is actually not a scam. Check their reviews and testimonials, check their website data and make sure you call them. While some often rely on fake testimonials, you should know that it’s very easy to detect them.

sell your house to companies

How you can spot a fake testimonial:

  • Check their account

If the website offers a third-party review service, check the reviewer’s account. Does it look like it comes from a real person? You will be able to tell. You can spot a fake image by right clicking and doing a reverse Google image search.

  • Check the time of the reviews

If a site has plenty of reviews, you might want to see when they were published – a lot of reviews are often published all at once, as, of course, the owner made them. Check reviews from a third party website – if a company doesn’t have any, then it hasn’t been on the market long enough to gain any reputation. This could be either good or bad – it’s your decision.

  • Do the reviews look similar?

When it comes to fake testimonials, a ghostwriter will often use the same language, or at least one odd word, repeated in all testimonials – keep an eye on those as there are millions of ways a person can write a review. A scammer, especially when from a foreign country, will often have the same spelling mistake in his testimonials.

2. Fill out their form or call them

sell your house fast

After you’re done checking whether the house buying service is legitimate, give them a call or fill out their review form. A good house buyer should answer the call or have an automated service set up if they’re not available – if you have too many disconnected calls, don’t worry – this is not the person you want to work with. When filling out a form, the more information they request, the better it will be for you. Never reveal your personal information that could resolve in stealing your identity.

3. Show your house to the house buyers

When wanting to sell your house fast, you still have to do some sort of a viewing. Be honest – show what you think is the best feature in the house, but don’t forget to mention things that might need repairing. If you don’t, you might still get the cash, but it might cause an unfortunate chain reaction. Honesty is the best policy.

4. Make a decision

So how do you make a decision on the house buying company? There are a few things you should consider when choosing the right company to sell your house fast.

  • How fast can they sell their house?
  • How much (relevant) information they require?
  • Check their online reviews
  • Google their name and go beyond the first page.

5. Decide on the date

choosing a date to sell your house

When do you want to sell your house? Did you know that SellURHomeKC allows you to sell at a time most convenient for you? Whether it’s 2 days from now or 2 months – we’re here to accommodate your needs. You can easily sell your house in 7 days! Scroll to the bottom of the page to find our contact number – we can’t wait to hear from you-

6. Sign the contract

After your search is done, it’s time to move on to the next step – sign the contract and sell. Here’s a few things you should be aware of if you’re about to sell your house fast.

  • Always sign a purchase agreement

Avoid closing anything at the kitchen table – you must sign a real purchase agreement and always make sure it is legitimate. Don’t sign over deeds until closing at a title company or attorney’s office.

  • Carefully check your contract

It’s best to consult with the lawyer to make sure there aren’t any contract flaws or possible fraudulent activities. Your lawyer will be able to determine the purchase agreement is legitimate and safe.

The fastest way to sell your house

sell your house fast

If you’re looking to sell your house quickly as is, you’re in the right place. Our website offers you everything you need to know about selling your house and if you’re still unsure on what to do, you can always give us a call at (913) 428-0957.

We buy houses – just fill in the form and we will give you an offer in less than 2 days. Your house could be sold for cash in less than a week! Following the steps above and you’ll be able to sell your home quickly, safely and efficiently. Without any problems or worries.

We’d love to hear from you, so even if you just wish to talk about real estate or if you have any questions on the subject of stopping foreclosure, selling or renting out your house, give us a call at (913) 428-0957.

We’re here to help you sell your home fast.

The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.

Sell My House Fast in Kansas City

June 27, 2018 • Marko

Thinking, “I need to sell my house now”? Many of us have been there before. Here’s how to deal with the situation.

There are many reasons why a homeowner would seek to sell a house fast. Sometimes there are too many major repairs making their current property unlivable. Other times, a homeowner must relocate immediately for an amazing new job opportunity. Even financial hardship can force homeowners to sell before the mortgage company initiates foreclosure. Whatever the reason, it’s essential for homeowners to know a company that’s willing and able to sell their property fast.

How can I sell my house now?

sell my house now

When Amelia Blackwelder was looking for a reliable way to sell her home quickly, she scoured company websites for weeks searching for a perfect fit. She was living in a dilapidated home that needed major updates before being market ready. Aware that home renovations were out-of-budget expenses and needing to sell her property right away, she contacted several realtors and house buyers and even advertised her home on social media herself. After few offers and a thorough research, Amelia stumbled upon SellURHomeKC, a locally owned and operated business experienced in buying unwanted homes fast. Within a week from the initial contact, Amelia was moving out of her fixer-upper and on to new opportunities.

Why did Amelia choose SellURHomeKC? After contacting several real estate agents in the area, she knew she’d rather sell on her own than work with a realtor. Choosing to become your own agent isn’t a new concept; nearly 10% of homeowners skipped the realtor and sold their For Sale By Owner (FSBO) property in 2014. This large number is due to the many advantages experienced when selling a FSBO.

Homeowners often know their property better than a real estate agent. When Amelia contacted an agency to assess and market her fixer-upper, she was surprised with their lack of professionalism. One realtor told her it’d cost her thousands of dollars out of pocket to sell with his company. Another agent saw the condition of Amelia’s property and walked away immediately. Although her home needed major repairs, Amelia knew selling wasn’t a lost cause. After contacting SellURHomeKC, Amelia found a company that saw the potential she did while assessing her home. The company also offered a level of professionalism not seen in the realtors Amelia attempted to hire.

Another advantage of not hiring a realtor to sell is saving time and money. Amelia was able to close within a week without paying hefty realtor commission fees. SellURHomeKC filled out the tedious paperwork while foregoing a buyer’s fee to make Amelia’s process expedient, simple, and cheap. She ended up spending more time and effort on finding an agent than closing on her home and moving.

Marko offered a simple process to sell my house now.

i want to sell my house now

After running into too many unfriendly real estate companies, Amelia found SellURHomeKC to be an amenable anomaly. After filling out a simple form online, she was contacted by a service representative immediately. Unlike the realtors she looked into hiring, SellURHomeKC got back to her within a day. Within a short phone call, Marko set an appointment that worked for both parties, making the initial meeting the least intrusive part of Amelia’s selling process.

When Marko pulled up to Amelia’s rundown two-bedroom abode, she expected criticism. She thought he’d not only be disappointed with her fixer upper, but that he’d actively dismiss it without even stepping inside. To her surprise, Marko was not only cordial but he was also complimentary. After giving him a detailed house tour, complete with the major eyesores that kept Amelia from selling, Marko offered a generous estimate on her property. Finally, she felt like she had found someone who’d respect her home while giving her an honest assessment.

Before the week was over, SellURHomeKC sent Amelia a cash offer that was too good to pass up. Whereas other potential buyers wouldn’t bite until she lowered her asking price or made expensive repairs, SellURHomeKC was willing to work with Amelia’s standards and offer a fair price for her old home. She never felt pressured into the price – like other buyers had pushed for- or like Marko had made an obligation cash offer. His team of professionals treated Amelia and her house with the respect she couldn’t find elsewhere.

SellURHomeKC helped me sell my house now.

I need to sell my house now

It was a relief to find an experienced company to buy Amelia’s home right away. When sitting on a property with an enormous amount of repairs or an underwater mortgage, sometimes the best option for homeowners is to sell. Some homeowners may feel trapped living in an undesirable house. Before spending thousands on those house lifts, contact SellURHomeKC for an honest estimate. No house is too ugly, undesirable, or unbuyable for Marko experienced team of professionals.

SellURHomeKC offers a highly organized and skilled staff to help homeowners like Amelia reach their selling goals. Each closing is personally tailored to meet the seller’s needs; each offer is individually based on the property being sold. Marko and his company make it evident that their main mission is more about helping homeowners in need than making a purchase. Their discreet and friendly service gave Amelia the ability to move forward without wasting time and money with real estate agents and making repairs.

There are many reasons for homeowners to use Marko when selling their home. Whether it’s the financial burdens of owning a home or the threat of imminent foreclosure, homeowners need a speedy solution to the selling process. If customer care and honest advice is important to a homeowner, seeking the services of Marko efficient team is the best option for homeowners.

SellURHomeKC buys houses in the Kansas City area with cash fast! SellURHomeKC provided Amelia the exemplary service she was seeking once she decided to sell her home. The friendly service representatives helped make the selling process simple, hassle free, and fast. If homeowners are seeking a quick closing and a stress free solution, Amelia recommends using the highly respected SellURHomeKC. If you’re thinking “I need to sell my house NOW!”, don’t worry! We will buy your house as is, no problem! One call can save you time and money when selling your home!

The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.
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