How Shaun Dennis Moved On from Landlording Challenges
Shaun Dennis owned a rental property in Chesapeake, VA, but managing it had become too stressful. His tenants were always late on rent, there were problems with the property title, and he needed to sell fast. On top of that, the house was in poor shape after years of neglect. With so many challenges, he needed a simple way to move on.
The Challenges of Selling a Rental Property
While homes in Chesapeake typically go pending around 30 – 45 days on market, Shaun discovered that selling a rental property comes with its own unique set of challenges. Tenant leases must be handled and can often lead to evictions. These problems can delay the sale of the home and in some cases cause the sale to fall through. With peak market times in Chesapeake being March – June, Shawn couldn’t take that chance.
Since 2001, we’ve seen firsthand that rental properties often require more repairs, since not all tenants take good care of the home. Plus, constant moving in and out can cause unusual wear and tear on a home.
Often, because of the difficulty in coordinating with tenants, repairs and updates go unresolved. Or if tenants are consistently behind in rent, landlords may not have the funds to make the repairs and updates.
For Shaun Dennis, these difficulties all occurred at once, making it especially difficult to sell the home by traditional means.
A Home with Big Problems
Shaun’s property had a lot of issues, making it hard to sell. His tenants were behind on rent and needed to be evicted. The title to the home had not been recorded correctly when he bought it, creating legal problems that needed fixing before he could sell.
The home itself was also in rough shape. Mold was growing in parts of the house, the appliances were old, and there was trash everywhere. The walls were painted in bright, outdated colors, and the entire home needed major updates.
We understand how these situations can make selling the traditional way extremely difficult, which is why our 10 minute offers are designed to bypass the old way. Buyers are very cautious about purchasing a home with tenants, especially considering they may need to be evicted. This often involves complicated closing delays because of legal issues.
Rundown homes that need extensive repairs also put off buyers. Mold, termites, old systems such as air-conditioning and heating, and general disrepair also turn away potential buyers. For Shaun, all of these issues added up to additional stress.
Helping with Eviction and Title Issues
One of the biggest hurdles was removing the tenants, which took more than three months. Shaun was carefully guided through the eviction process, with each step properly completed to prevent legal issues or delays. Our guidance enabled Shaun to continue the sale process without worrying about each step.
Taking care of the title problems was equally as important. Ownership of the home was recorded in error, initially keeping the sale from going through. With the correction of the title and other errors, as well as the eviction of the tenants, Shaun was able to move forward to a reliable closing.
With the home empty, and the title corrected, the sale went through quickly. Shaun accepted a cash offer, avoiding the delays that come with buyer financing. There were no hidden fees or realtor commissions, so he walked away with the full amount he was offered.
A Full Home Makeover
After the sale, the home was fully renovated. New flooring was added where needed, and the entire interior was repainted to replace the outdated bright colors. The kitchen got a makeover with refinished cabinets, brand-new appliances, and updated lighting. The home was cleared of mold, cleaned up, and refreshed to be more modern and inviting.
The improvements did more than just improve the aesthetics of the home, they also corrected issues that had built up over years. The property was repaired and updated providing a healthier, safer, functional home ready for its next buyer.
Moving Forward Without the Stress
Selling the home allowed Shaun to leave behind the headaches of being a landlord. With the title fixed, the eviction complete, and cash in hand, he was finally able to move on. His experience showed that even a complicated home sale can be handled smoothly with the right support.
For landlords in the same situation, Shaun’s home-selling experience demonstrates that even in hopeless situations there is an easier path forward. As-Is cash home purchases are often the best option in these cases since no clean-outs or repairs are required.