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Selling a home costs a lot of money – sometimes as much as 10% – 15% of the sales price, especially if you use a real estate agent. When you’re selling a rental property, the last thing you want to do is give up as much as 15% of your profits, but how do you keep more money in your pocket?
With careful planning and using the right tools, you can keep more money in your pocket and walk away a happy investor.
Reasons to Sell Your Rental Property
Buying and selling homes happens every day, but deciding to sell rental property is a big decision. You likely invested in the property with the hope of supplementing your retirement or setting up your estate. So why would anyone consider selling their rental property?
Everything You Need to Know About Selling Rental Property in 2021
As a real estate investor, there’ll be times when you wish to sell your rental property. Suppose the property’s value has appreciated considerably and you prefer selling off than renting it out, or you self-manage and are moving out of town. You’d want to sell off, seeing as you can no longer maintain the rental, and buy something closer in your new location.
Conversely, you can also sell your property if it’s making you lose money due to vacancy, jump out on time instead of losing out entirely. Regardless, you’ll need to discover the secrets to selling rental property in 2021, including when to sell a rental property at a loss.