How to Sell a Duplex
When attempting to sell a duplex, you should use the fact that this is a two-unit property designed for two families to your full benefit. The duplex is a nice package deal for certain categories of buyers. Come up with a sales strategy that will allow you to reach the most likely buyers for this type of property.
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Instructions
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Identify your target buyer or buyers. For a duplex property, the most logical buyer is a real estate investor who wishes to rent the property to two different families. Another possible target buyer is an individual with a large extended family who needs to separate living quarters. Some regular home buyers like the idea of having an extra unit available to rent for additional income.
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Create an advertising message for your real estate listing that speaks directly to your target buyer's needs. For instance, adding phrases like "Investors Dream" or "Ready for 2-Family Move-in" may help attract the attention of potential investors. Some mortgage lenders may count the prospective income from renting the other unit when evaluating the mortgage application, so this is another potential advertising point.
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Post photos on all of your real estate listings that highlight the features of both units of the property. Label each photo as unit one or two for clarification.
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Secure a professional appraisal or home valuation to estimate a reasonable sales price for the duplex. Set your listing price for the property based on the results of these reports and advice from your Realtor. Keep in mind that real estate investors often want to pay less than the value, especially if they plan to flip the property.
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Sweep the duplex clean and perform minor repairs before showing it to prospective buyers. Bring the duplex up to code according to town or county regulations.
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Tips & Warnings
Arrange an open house with your agent so that a wide variety of interested parties can view the duplex at the same time.
