3 Common Mistakes to Avoid When Selling a Multifamily Property in New York

 It is pretty lucrative for an investor to see several multifamily properties for sale in Westchester County. Half of the population living in the town live in multifamily property for certain reasons. 

Multifamily Property

Affordable living, comparatively low utility bills, low crime rates, and community lifestyle by choice to name a few. It is because of this reason many multifamily properties are an investor’s choice. These investments reap huge benefits like affordable acquisition and stress-free management.

Inexperienced Realtors

When a notice of multifamily properties for sale in Westchester County comes up, realtors flock all around it. Choosing a realtor to help you get in touch with the property owner becomes quite a task for many sellers. We generally hire the one who sounds good in their ways of communicating with us. The chances of getting an inexperienced agent go up, leading to several troubles in the future.

Number of Legal Apartments

The number of legal apartments in a multifamily property is a concern for many sellers. Problems will not come in the way when the property does not shelter any illegal renting unit. This conjunction of legal and illegal renting units makes a hard time for the person willing to sell out the multifamily property.

Lease Agreements

This is a simple issue that causes trouble for property owner to sell their property. The lease term agreements hold different years before vacating the unit. When a unit says it will be vacant after a year and the other says it will be empty in six months, selling the property as a whole is delayed. Hence, clearing out the lease agreements before selling ensures smooth negotiations. 

We hope by avoiding this mistake you can sell multifamily properties for sale in Westchester County. You can consult professional realtors for more details!

 

NuRealty Advisors Inc.

573 South Broadway, Yonkers, NY 10705

914-670-7065

Location: 573 S Broadway, Yonkers, NY 10705, USA

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