Tips for Selling A Multi-Family Property in Worcester, MA

Selling a multi-family property is more complex than selling a single-family home – usually because more people are involved! In addition, sellers of multi-family property have to follow certain regulations. Check out these tips for selling a multi-family property in Worcester, MA.

Exterior Electric Meters

Prepare the Property for Sale

Your level of preparation to sell your Worcester multi-family property is important. More buyers will be interested in buying if the property looks well-kept and well-maintained, increasing the likelihood of multiple offers which meet your price and terms.

Easy areas to address in preparing your multi-family property for sale include:

  • Common areas – Clean up and repaint where necessary. Highly visible areas deserve close attention.
  • Curb appeal – Create a good first impression. Trim bushes and shrubs; pull weeds; and remove trash and rubble.
  • Repair/replace any siding and trim that has damage.
  • Doors/locks– Replace beat-up doors - not only do they look bad, they may be in violation of the sanitary code. Locate all keys and have locks rekeyed as necessary.

Can't make any repairs to the property? We can work with you by finding a away to get repairs done, or identifying an appropriate price point.

Review Leases and Related Documents

Review the leases or tenancy agreement with your agent before marketing the property.

Your tenants have rights which will impact certain aspects of the sale. You need to be familiar with the terms of the leases to answer questions buyers ask, such as:

  • What are the dates of the leases?
  • What are the rent amounts for different units?
  • What does each unit rent include?
  • Are you holding security or last month deposits?
  • Are any of the rents government subsidized? If so, how does the subsidy transfer to the new owner?
86 Whitmarsh Ave Worcester
32 Bowdoin St Worcester

Use an Agent with Experience in Selling Multi-Family Property

To navigate the complex process of selling a multi-family property in Worcester, you should consider hiring an agent with experience selling multi-family property.

You can check agents’ profiles online, as well as their selling record. But nothing beats a personal interview, which should include at least the following questions:

  • Can you provide contact information for the former owner of a multi-family property whom you represented for a sale?
  • What is your method for handling a showing when a property is tenant occupied?
  • How do you handle uncooperative tenants?
  • How much notice do you give?
Asking the right questions and getting the right answers can greatly increase your chances of getting an agent who can represent you well.

Testimonials

“Erin Zamarro represented me for the sale of my three-family property in Worcester. Erin’s diligence, attention to detail, and know-how really made the difference in making this transaction happen. There were several points along the way where complications arose, such as uncooperative tenants, a tenant eviction, and questions about a broken municipal wastewater pipe near the property. Erin helped with the paperwork, recommended an attorney to assist the eviction, and contacted the city to have the pipes near my home inspected. Erin was able to find a solution to each challenge and keep everything on track. She also helped me find a suitable new apartment. I really can’t recommend Erin highly enough if you are looking to buy or sell a multi-family home.”
102 Elm St

BERNARD T., INVESTMENT PROPERTY SELLER

“She helped me in a most adverse situation.”

“Anyone looking to buy or sell their home, or real estate investments, should be looking for Erin Zamarro and hiring her. She helped me in a most adverse situation. I just can’t say enough about her. She is amazing. All you have to do is listen, sign, and the results are amazing.“

624 Grafton St

CAROLYN M., INVESTMENT PROPERTY SELLER

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