Five Minute Friday #14 - Selling a Home with Tenants in Possession

Most real estate investors don’t realize that they can sell a property even when it is occupied by a tenant. In the state of California, this is known as selling with Tenants in Possession, or TIP.On this edition of Five Minute Friday, Bob shares North County Property Group’s expertise in TIP, explaining how to keep tenants and buyers informed throughout the process and document the tenant’s right to possession via the Tenant Estoppel Certificate.Bob discusses the mistakes uninformed listing agents can make in handling TIP transactions and describes North County’s advantage in having an ongoing relationship with the tenants involved. Listen in for insight around North County Property Group’s considerable experience leading the successful TIP sale of a property.Topics Covered[0:40] The concept of selling a property with Tenants in Possession (TIP)[1:10] North County Property Group’s expertise in selling homes with TIP + the specific steps required by the California Department of Real Estate [1:37] The mistakes uninformed listing agents can make in handling TIP transactions[2:25] The value of North County’s ongoing relationship with tenants in the listing and selling process[2:53] Documenting the tenant’s right to possession through the Tenant Estoppel Certificate[3:23] North County’s experience leading the cooperative effort around the TIP sale of a propertyConnect with BobNorth County Property GroupResources Mentioned California Department of Real EstateCalifornia Association of Realtors Tenant Estoppel CertificateThis episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify, and YouTube.Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TuneIn, iHeart Radio and YouTube.