Posted by ski on January 18, 2006 at 18:32:39:
LOCK “N” LOAD
need advice selling my rental - Posted by Investor
Posted by Investor on January 16, 2006 at 10:34:54:
Here’s a question for experienced S8 investors in Maryland area.
It appears that my Section8 tenant needs more time to vacate
due to son’s health issues so I’m considering selling with the tenant. I’ve never had any problems with this tenant so I’m considering this route although it’s definitely not the most efficient choice from a selling stand point.
Should I continue to press the tenant that they must vacate regardless? My agent is recommending this route since it will be the best way to sell.
If tenant stays, what are some of the things I should do to make things go smooth?
Could I get the tenant to sign an agreement stating the following:
-
that the tenant cooperate with the sale process, real estate agents, buyers visiting during normal hours, open-houses, and others such as inspection/appraisal visits.
-
tenant is required vacate if new buyer wants them to vacate.
Can I do this for a S8 tenant? Strangely, in my county (Prince Georges) the S8 only gave a contract during the first year. I never had to sign anything after that and definitely didn’t sign any lease agreement or voucher agreement with S8 for this year. Does this thing get renewed automatically or something without requiring my signature?
- If the last sale from fall of 2004 was around $340k for a similar townhouse (but mine has a garage/fireplace).
Considering it appears that the local market is cooling to a ‘soft landing’, what would be a reasonable price to sell this at?
Re: need advice selling my rental - Posted by Investor
Posted by Investor on January 18, 2006 at 23:26:17:
Well, I’m all for assisting those who can’t afford a nice housing… but poor people can be an unneccessary hassle to me sometimes.
i don’t know about lock & loading revolution though. lol
btw, how about an answer to my questions?
ACK !! Re: need advice selling my rental - Posted by Sgt.Sausage
Posted by Sgt.Sausage on January 18, 2006 at 17:14:11:
Sheesh, is that where my tax dollars are going? Someone can’t afford to live in a $340K townhouse, so we give them government assistance so that they can? Is that what we’ve come to?
WTF is going on with our government that they feel folks need a handout so they can live in a residence that costs A FULL THIRD OF A MILLION DOLLARS !!! These are our tax dollars. Yours and mine. Are you comfortable with that? I’m not.
It’s revolution time. I’ll buy the guns and the ammo. Who’s with me? [grin]