Having successfully sold hundreds of single-family, tenant-occupied rental properties on our marketplace, we’ve streamlined the process to make the sale of investment property transparent, cost-effective and easy for both sellers and buyers.
Once you decide to list your rental home on Roofstock, here’s a brief overview of how to sell a rental property from inception to close.
1. Listing Agreement
Roofstock Realty, a subsidiary of Roofstock, works with you and multiple sources such as the HouseCanary model to help you determine a proper valuation and price point that attracts investors and generates your desired yields—all while greatly limiting the friction costs of a traditional sale.
2. Kick-Off Call
Roofstock Realty acts on your behalf to bring all parties together, including your property manager (if you have one). We provide scripts for property managers to communicate with the tenant, and explain routine inspections that will be taking place during the sale of an investment property. When the time is right, your property managers notify the tenant of the proceeding sale and ensure them their lease will be honored.
3. Data Collection
During the inspection and data collection process, Roofstock Realty facilitates a thorough inspection/review of the property. This includes creating a unique 3-D tour stripped of tenants’ personal effects, that allows buyers to “walk through” the home virtually. We’ll ask you to provide property details, tenant information (lease and payment history) and marketing photos.
We officially certify your property by obtaining and organizing all the diligence we believe is necessary to help buyers make an informed decision. We also round up additional data such as estimated market rent and HOA information (if applicable) and provide buyers access to vetted property management options and more to help them evaluate your listing.
5. Property Listed
Your property goes live on Roofstock’s exclusive online marketplace, complete with key metrics, a diligence vault, property highlights and much more. By selling through Roofstock, you’re actively marketing your listing to a dynamic and unparalleled network of rental property investors both large and small. At the time of listing, we also open an escrow account at a title insurance company. This way, when a purchase transaction begins, the process of transferring the title has already been initiated.
Once a browser hits that “purchase” button, our Customer Success Managers and Transaction Coordinators work with all parties to complete the transaction generally within 30 days. We’ll oversee the entire closing process and provide the buyer access to our preferred partners for financing, insurance and property management. As the seller, you’ll continue to collect rental income until the sale is finalized.
Selling your leased rental property on the Roofstock marketplace is a win-win for you, your tenants and prospective buyers. It can save you time and result in higher proceeds without the headaches. Schedule a call at your convenience to speak directly with an account executive about selling your rental property on the Roofstock marketplace: