Selling a rental property requires extensive planning.
Oftentimes it simply makes sense to go ahead and sell a rental property you own. In fact, property owners sometimes need to free up some equity or finalized and completed a rent-to-own transaction, there is a myriad of reasons a property owner would have a desire to sell their rental property. However, it is critical that property owners understand what needs to be done right after they sell their rental property. Here are the proper steps every property owner needs to take after finalizing the sale of their rental property.
Avoid Taking Any Items That Don’t Belong To You
If you have never sold a home or building before, it can be difficult to understand what the process of moving in and out entails. In fact, installing something inside a building or home does not mean that you own it. For instance, any built-in shelving you may have put up that may have been assumed to be included in the actual purchase of the property. Therefore, it is important that you avoid taking anything such as fire alarms and built-ins.
Transfer And Disconnect Utilities
The day any person moves out it is important to remember to transfer and disconnect all utilities. In fact, unpaid utility bills can lead to bad credit which can impact any future purchasing project you intend to conduct. As a result, ensuring that you have transferred and disconnected all utilities to the property you are selling will ensure that there are no outstanding bills that you would never know about.
Invest Profits In A Money Market Mutual Fund
The smartest thing you can do after selling a property is to invest the money you received. In fact, investing money in a market mutual fund can do wonders for your business if you plan on pursuing a real estate venture. Consider the highly liquid investment you receive from money market mutual funds. As a result, you get a higher return on your investment in a mutual fund compared to a regular savings account.
Trust the Professionals at Clagett Enterprises for Your Real Estate Needs
If you’re looking for the perfect realtor for your property or to assist during your purchase of any home, you can rely on Clagett Enterprises. Clagett Enterprises is a full-service real estate company with almost 30 years of experience in the Frederick and Western Maryland area. For assistant selling your home and getting the best possible price, contact us online or give us a call at 301-665-6009. To meet our team and see some of our beautiful homes, follow us on Facebook, Twitter, Pinterest, and Google+.