Property types
We buy 2-4 unit properties in Virginia
Momentum Properties buys duplexes and other 2-4 unit residential buildings in Fredericksburg and the counties we serve, or talks through a listing. Each lease is part of the sale. The written offer should say whether the tenants stay. The price comes after a look at the building.
A duplex, a triplex, and a four-unit house are still residential buildings. Send the address, the number of units, and which ones are occupied. Vacant land is not one of these sales.
What is different about a small multi-unit building?
You may have two, three, or four leases, different rents, and one utility setup. Tell us which units are occupied. We do not need a rent roll to schedule the first visit, and we do need the truth about who is there. Deposits and the end dates belong in the conversation before anyone signs.
A building with an empty unit and a rented unit is normal. Say so. Access has to be arranged with the occupants. We do not show up unannounced, and a sale does not cancel a lease by itself. If you gave a non-renewal letter, tell us the last day on that letter. We do not collect rent. We only need to know whether the occupant is likely to open the door.
What should the offer say about the tenants?
The written offer should say if the leases continue or if the building is to be delivered vacant. Momentum Properties will not guess from a text that says the tenants are fine. Rent, deposit, and the end date belong in the conversation before anyone signs. You still owe the tenants whatever the leases require. A cash sale does not delete a deposit.
Showings are harder when people live in the units. That is a reason some owners ask for a cash offer instead of a listing. It is not a reason to skip the lease terms. Do not tell a tenant the building is sold until you have a contract. A visit from us is not a notice to vacate.
How do you compare a cash sale with a listing?
List if the units will be empty and you can show the building. Sell for cash if you want the leases handled in one written offer and you do not want a string of showings. Ask for both numbers if you are unsure. Compare the net on the draft statements, not only the headline prices.
A higher price with a larger repair credit can net less. Read the draft. Momentum Properties shows a written offer and a settlement statement before you sign. The payoff on any loan, the deposits, and the other closing lines belong on that statement. If a line is missing, ask for a revised draft before you sign.
What should you gather for the first look?
The address, the unit count, and a way into each unit we need to see. A lockbox, a tenant who agreed to a time, or you at the door all work. Say whether the heat, the roof, or a shared meter is the reason you are calling. You do not have to finish repairs before we look.
If more than one person is on the deed, list them. If you live out of the area, Momentum Properties works with remote or mobile-notary signings when the settlement agent can accept them. The funds still go through the Virginia settlement agent named on the statement. Living somewhere else does not decide who signs.
How do you start?
Call (540) 547-SELL and say how many units are at the address. Use the tired-landlord page for the tenant questions and the location guide for the city or county. The selling-with-a-tenant guide is the longer note on leases. The how-it-works page is the short version of a cash conversation.
Use the how-to-check page before you accept any cash buyer. Ask for the writing, ask who holds the money, and sign the deed at the closing the settlement agent runs. If you also want a listing conversation, say so on the form. We will talk through the cash offer and the listing as two choices.
Call (540) 547-SELL or send the address.