Dawna was simply amazing! She was knowledable and kept me well informed on the matters of the sale of my house. Beyond keeping me informed she took it upon herself to act as my instructor in real estate which was so very helpful. Dawna is also a wonderful and honest agent, it was such a pleasure working with her. Her assistant Jodi was also a real asset in the sale of my home. I thank you both so much!
1. Evaluate your desire/need to own this property 1, 5, and 10 years from now. If there are more benefits to keeping the property (income, tax benefits, etc.), do not plan to sell. Perhaps there are changes to make to rents/repairs/tenants that will make it work for you for longer.
2. Talk to knowledgeable real estate broker about market value, closing costs, possible net proceeds from sale, and market timing. More planning will make for better decisions and less drastic decisions.
3. Talk to your CPA and/or tax advisor about the tax consequences of a sale. Estimate about 8% for transaction costs as a seller. You will need a rough estimate of possible sale price, your purchase price, and depreciation amount, if any.
4. Look up your property value on websites: Zillow, Trulia, etc. Look for both value estimates and rent estimates. Note how much information is available online publically about your property. Be aware that these valuations can vary as much as 20% either way from actual market value. This will help you see what information buyers are seeing about your property.
5. Pay attention to how you feel when you drive by your property. If you would rather not be responsible for it, consider selling.