The number of able and willing buyers has drastically declined but if you are one of the lucky Sellers to receive an offer, my recommendation is to do your very best to make it work.
Many home owners are growing tired of waiting for "the offer" and/or having to repeatedly reduce their asking price. So it has become a popular trend to lease and to try to and sell the home later when the market recovers. It seems that many feel the process of finding a good tenant is easy. Well, I should know since I have lease listings and have been working with clients looking to lease and believe me, it is not an easy task and it can be more complex than an actual purchase! Moreover, tenants in today's market want something in tip-top shape and they want it to be at those "deal" prices. They are not willing to spend money to make any changes to a property they do not own thus they commonly request that landlords make improvements to the property such as repairs, painting, new carpeting etc. before they agree to lease.
All property owners should be aware that there are risks involved such as, a tenant may not pay or may be responsible for serious damage the deposit does not cover or you may be trying to once again lease or sell in a market that is more troubled than before. The decision to lease a property should not be taken lightly or it could be a costly mistake.
Feel free to send me an email with your questions. I am here to help in any way I can.
Connie
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