Selling Your Rental Home For The Best Returns

How to Sell Your Rental Home In Kissimmee

This article details how to sell your rental home in Kissimmee, Orlando, or Davenport, Florida. When you live out of state or overseas, you need a realtor that you can count on that will go that extra mile and do things you’d be doing if you lived in the area. They need to coordinate everything to do with the sale. From showing the home to meeting the home inspectors and appraisers, dealing with the contracts, negotiating with the buyers, and closing the sale. In this piece, we’ll discuss finding a qualified and experienced realtor.

If owning a home in Florida just isn’t practical anymore, you’ll need to know how to sell your rental home in Kissimmee, FL, for the most money and the least amount of stress. We’ll help walk you through the process and tell you how to sell your rental home in Kissimmee, Davenport or Orlando, FL. Whether you live in the state, out of the state, or overseas, you must find a Realtor you can trust. A home is one of your most expensive assets, and you don’t want to leave it to just anyone.

Part 1 of 3 Video on When You

Sell Your Rental Home In Kissimmee

Ask for Referrals

Talk to your family and friends. Find out if they have a Kissimmee real estate agent who would be a good choice to sell your home. Also, think back to when you bought the home. Was the Realtor really awesome? You can always look them up. Do a little checking before you hire someone. You can visit and search to see if the real estate agent has any violations against his or her license.

Pick up the phone and talk to them to see if you like them. This person is going to be handling the sale of your home and you need to feel comfortable. You’ve seen our videos and we’re family owned and operated and with over 30 years of experience of selling homes in Florida we’d be happy to talk to you and walk you through how to sell your rental home in Kissimmee, FL

Comparative Market Analysis

Most real estate agents will provide a CMA; that’s a comparative market analysis. This will show you which homes close to yours are for sale and at what price, which homes have sales pending, and which homes have recently sold and for how much. This will help you and your Realtor determine what price your home should be listed for sale and what the fair market value is. This is another way we help you know how to sell your rental home in Kissimmee, FL

Out of Town Investors

If you’re out of state or overseas, ask if the Realtor has experience working with sellers like you. Good realtors need to do a lot of extra work when you live overseas or out of state. make sure your realtor knows about the FIRPTA filing requirements. You’ll have to file a US tax return if you live overseas, and Uncle Sam will take 15 percent of the sales price until it’s proven your tax returns are current.

If they don’t seem to know, call us. We’d be happy to help you, and it’s all part of the service. Or typical sellers are out-of-state and usually overseas investors. We’re familiar with the fact that the sale terms in your country will probably be different than ours in Florida. This is all part of the things we need to help you with when you need to know how to sell your rental home in Kissimmee, FL

Preparing and Pricing Your Property

Next, you’ll have the Realtor look at your home through the eyes of a buyer. They say a buyer decides to purchase a home within the first eight seconds of entering. You can discuss with your realtor what inexpensive things can be done to make your home more appealing. It may be as simple as a fresh coat of paint. You want to create as much curb appeal as possible. Look at the prices of your competition. If they are overpriced, you want to sell your home at the right market price. All things being equal, they’ll look at the competition and buy yours!

Be careful and beware of any Realtor who promises they can get far more money than what the market will bear. If you list your home with that Realtor, you’ll probably have to reduce the price repeatedly, and it will sit on the market for a long time. The results are always less than satisfactory, and it’s more likely, your home will sell for less than it would have if you priced it right from the start. This is another important fact you need to know when you want to know how to sell your rental home in Kissimmee, FL

Part 2 of 3 Video on When You Sell Your Rental Home In Kissimmee

Our second part in this three-part property management blog series on when you sell your rental home in Kissimmee covers what happens once you receive an offer on your property. The first thing you need to do is consider the offer carefully. It could be 10 to 12 pages long.

Price, Terms, and Conditions

Go over the offer closely, and don’t just look at the price that they’re offering. Look at the terms and conditions as well. Do they want everything included in the price as seen on the day they viewed the property? Are they asking for funds towards their closing costs, and do they want you to provide a warranty? They might look for you to help pay for things like washers and dryers, or they may want yours. These things can all be included in the offer.

Discuss the Offer with Your Realtor

Your offer will also include stipulations such as the sale being subject to a home inspection, an appraisal, and a mortgage. So, receiving an offer is just the first step. Decide if you like the price. Usually, the first offer is the best offer. The buyer may be getting a lot of money on financing and have little for a down payment. In such cases as these, the terms of the offer can be important.

So, if it’s a full-price offer but stipulates that you must pay toward the buyer’s closing costs and refuse, the deal may not fly. You can counter with an increased purchase price if you feel that the home will praise the increased sales price. Go over this offer in detail with your Realtor. An experienced agent will help and advise you on what to offer back and what to accept and reject. Maybe you’ll want to take the offer as-is to get the best return when you sell your rental home in Kissimmee.

Signing a Contract

Once you and the buyer agree on a price and terms, sign the contract quickly and get a copy to a title company. The title company will act as a closing agent. Some attorneys do it, but using a title company to close the transaction is customary. They will ask if you have a mortgage and collect other information from you, such as your social security number and details about your HOA so that they can facilitate the sale.

If the buyer cancels the contract because they didn’t like the inspection results or couldn’t get financing, let it go. Sign off on giving them their deposit back, and don’t delay. That will only take longer to get your home back on the market. If you have any questions about selling Kissimmee real estate, please get in touch with us at McCormack Realty & Renters Choice Homes.

Part 3 of 3 Video on When You Sell Your Rental Home In Kissimmee

Prepare for the Closing
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If you’re a local seller and can attend the closing, you should. Take any forms that are needed, so you’re prepared. If you’re an out-of-state or overseas investor, ensure your accountant has prepared your 1031 exchange or 882B form. Otherwise, it could cost you at the closing table. If you’re an overseas seller, your closing documents could be 38 pages.

You might feel overwhelmed, but you can call the closing agent and your Realtor and ask them to explain the forms. There are lots of names and addresses and repetitive information to fill out repeatedly. If in doubt, speak to the closing agent.

Notarizing Forms

You may need to notarize these closing forms. In England and Europe, lots of people sign forms as witnesses. That’s not acceptable in Florida. You need a notary, so make your appointment and get those documents notarized. Here’s a link to some notaries in the UK You might have an attorney think that they are notarizing the sale, but they aren’t. They are simply notarizing your signature, which means they are witnessing it and verifying that you are who you say you are. Take your passport and driver’s license.

Accepting Money and Providing Keys

Take your keys to the closing, and turn off the utilities on the closing day. When you get your money, decide where it will go. The title company can wire it directly to your bank. If you are overseas, use a currency exchange company because banks will use the day’s exchange rate and charge you fees. An exchange company will be less expensive. We hope this has been helpful information for when it’s time to sell your rental home in Kissimmee.

Further details about selling your property and closing the deal can be found on our website. If you need help selling your Kissimmee real estate, please call us today! McCormack Realty & Renters Choice Homes, Phone Number: 407-933-2367 or contact our UK satellite office 0161 300 9595 or email:

About the author, Anne-Marie McCormack

Anne-Marie McCormack has been a Florida licensed Real Estate Broker since 1996. She has worked as a realtor in property management, rentals and sales in Kissimmee, Davenport, and Orlando, Florida since 1991.

She heads the team at McCormack Realty & Renters Choice Homes and has lots of experience with long-term and short-term rentals and sales. . Anne-Marie owned and operated a short-term-rental, property management company from 1994-2004. Since then McCormack Realty & Renters Choice Homes has focused on long-term rentals and sales of residential, investment homes and vacation homes also known as holiday lets.

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