Sell My Rental Property Fast in Virginia!

Even if your property has tenants. Sell your rental property with ease.

Ask how you can sell a rental property and still make monthly income from it!

No Fees. No Commissions. Fast Closing.

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Do you need to sell your rental property fast in Virginia?

At Academy Home Buyers, we offer a multitude of better choices for landlords, who want to sell a rental property, because they cannot or do not wish to keep them anymore. Owning rental properties is often pitched as the fastest and easiest way to become wealthy. If you own rental properties, you know that this is the farthest thing from the truth. Yes, you can generate significant wealth over time through ownership of rental properties, but it is definitely not fast nor is it easy!

Our group of professional investors have seen any and all situations-don’t feel alone. Does your rental property have foundation problems, or fire and water damage, or mold? Do you have non-paying tenants? Does the property need significant repair or upgrade, and you do not have the time nor the money to complete? We don’t have to tell you that problem properties are expensive. And selling such problem rental properties on the open market, with agents on the MLS, is just not a viable option in most cases. This is why we have sourced real estate investors, who will pay cash for rental properties in any condition, and in any market.

How To Sell A Rental Property With Tenants In Va

How to sell a rental property with tenants fast and as-is | (757) 755-5587 | Academy Home Buyers

Sell Your Multi-Family Property In Virginia

Any Reason

  • Tenants who cause damage
  • Late-paying tenants
  • Tenants who bother other tenants
  • Tenants with bad / damaging pets
  • Squatters

Any Condition

  • Needs updating
  • Water damage
  • Fire Damage
  • Termite Damage
  • Needs maintenance
  • Vacant

Any Challenge

  • Bankruptcy
  • Behind on mortgage
  • Code violations
  • Liens
  • HOA or legal problems
  • Pre-Foreclosure
  • Evictions

Will I Pay Capital Gains Tax On The Sale Of My House in Virginia?

Capital gains taxes are paid on the income earned from selling capital assets, like houses. If you have lived in the house for at least 2 years, you may be eligible to avoid most capital gains taxes, but it is likely that you will have to pay Capital Gains taxes on the profits from the sale of a rental property. There are a number of factors which determine how much tax liability you will owe such as, how long you owned the property, and how much money you made during the year.

There are a few ways you can defer Capital Gains taxes from the sale of a rental property, such as through a 1031 Exchange, or by selling your home using seller financing. Seek advice from a tax professional before selling your rental property.

Depreciation Recapture tax, however, is due in full on the tax year in which the income generating property was sold.

Capital gains taxes

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I Inherited A House in Virginia And Want To Sell It

Selling an inherited property is usually not as difficult as it sounds. This doesn’t mean that settling the estate is easy, just the part that includes selling a house. Your choices when inheriting a property usually include: Living in it, Selling it, or Renting it. Often times however, these are not viable options for inherited properties because they are so outdated, in a state of disrepair, or just outright uninhabitable.

Should you decide to keep an inherited property it is important to know that you are now responsible for all taxes, maintenance, insurance, and maybe even the mortgage attached to the home. Every day that you hold onto the property without selling or renting it, it is costing you (the estate) money. Therefore, it is pretty important to decide what your plans are, and then to execute them. If the home you inherit has a mortgage, or liens, or has bad tenants, or needs extensive repairs, your best bet is often to sell it fast for cash to professionals who can address all of these issues.

How Much Is My Rental Property Worth In Va?

How much is my rental worth?
How much is my rental worth?

Calculating the value of a rental property is often difficult because it is necessary to take into account all of the normal “retail” factors such as, location, size, age, condition, amenities, and the overall local market; plus it is also necessary to look at the income produced by the tenants.

A home that is rented for market rents, can often be sold on the open market for near-market price. A vacant home will always sell for more money. This is because only investors are looking to purchase a home with a tenant. Vacant homes are appealing to both investors and live-in buyers. A home that is rented to tenants paying sub-market rents, will dramatically reduce the sales price of your home.

Frequently Asked Questions About Selling Rental Properties In Virginia

My Virginia rental is currently occupied by a tenant. Do I have to wait until the lease ends before Selling?

No, you do not need to wait until the lease is over. Many investors will purchase your home with tenants in place.

The tenants have vacated the property, but they left furniture and trash. Do I have to clean the property?

No, you do not need to clean anything. Chances are, if they left the place a mess, it will also need repairs and upgrading. The additional costs of trash removal are insignificant to the investor, as they will be using the same services for their own rehab projects. Don’t waste your time and money.

There are liens on the property. Do I have to pay these before I sell the house?

No, and yes! The house cannot be sold without the liens being taken care of, but these can be paid at closing from the proceeds of your sale.

Can I sell my rental property without paying Capital Gains Tax?

You can almost never cheat the tax man! But you can sell your home in a way that minimizes your immediate tax liability. Many owners of rental property sell their homes on Owner Finance Terms. Owner financing is a means by which you sell your home to a buyer, but you accept payments over time. You essentially become the bank. Owner, or Seller financing is a great way to sell your home because it can spread out your Capital Gains Tax liability over many years, and also allows you to earn additional interest income. You can earn monthly income from the property, without having any ownership responsibility at all!

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Academy Home Buyers, Real Estate Investing, Virginia Beach, VA