Are you considering selling your Outer Banks Long-Term rental property? Let OBX Housing Help!
If so, please contact us! OBX Housing does not offer Outer Banks sales services but we work with many qualified Outer Banks Listing and Sales Brokers so we can help get the job done for you.
When you decide to list your home for sale with a Listing or Sales Brokerage firm, you will sign an Exclusive Listing agreement and at that time you must disclose to your Broker that you have a Property Management Agreement in place with OBX Housing. Because your Outer Banks investment property is a Long Term Rental, the Listing Broker should have you complete a Property Management Disclosure Form. This is a form that your Listing Broker can provide to OBX Housing after you sign to obtain the necessary marketing and financial information concerning your rental property. Please be advised that we will not discuss any of this information with anyone other than yourself or the Listing Broker during the time that your home is listed for sale. If you do not want to sign a Property Management Disclosure Form, you will need to provide this information to your Listing Agent. The Listing Agent will at least need a copy of the Property Management Agreement but also with a copy of the Tenant Residential Rental Agreement (Lease) that you have in place.
OBX Housing will not be able to provide a key to your Listing Agent without your prior authorization. This must be done in writing either by email or first class mail. We DO NOT recommend that your Listing Broker place a lock box on the house but that they DO obtain your Tenant’s information so that they can contact them to make appointments for showings. Listing your home for sale will probably upset the Tenants and we want to all work together to make sure this goes smoothly. Your Listing Broker must provide your Tenant with at least a 24-hour notice prior to the home being shown.
If your property sells, the buyer is not obligated to assume the current Long Term lease that you have in your rental home. The standard amount of notice to provide a Tenant that their lease will not be renewed or assumed is 60 days in order to give them sufficient time to find another home to lease.