 Posted 12/24/2006 5:58:55 AM
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| I owned a property outside of DC for 23 years. The same people rented it the entire time. When I purchased it, they had already rented it for 17 years. That's right, they rented the same place for 40 years. Not only that, they did all the maintenance, roof, etc. I replaced major appliances. When I got ready to sell, they stated they did not want it. I had a friend look it over and then discovered they were, in fact, thinking about buying it. Thirty days later the tenants were the proud owners. That surprised me for several reasons. I though that house would be difficult to sell and would need some renovations. It turned out to be easy and sold immediately. My personal residence which I had updated time and again I thought would be easy to sell but proved otherwise although not overwhelmingly difficult. It also took a buyer's agent to land a purchaser and he was a good one who knew how to do paperwork and preparation and deadlines. Those are the keys. Conclusion? It's hard to say how things are going to work. Just start preparing the property to look good. Get your paperwork in order. Then stay on top of it, never being satisfied until you sign on the dotted line and get your check.
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