Deciding whether to wait for a lease to end before selling can be a bit tricky, but I've been there. Here's what I think you should consider.
If you sell before the lease is up, you might face some complications. For one, the new owner will have to honor the existing lease unless the tenant agrees to leave early.
This could limit your pool of buyers to mostly investors. And investors can be great, I worked with a company when I had to sell my house fast in Central Pennsylvania. However, investors are often not willing to pay as much as someone looking to move in right away.
On the other hand, waiting until the lease ends gives you more flexibility. You can spruce up the place to attract a broader range of buyers, potentially getting a better price. Plus, it’s just simpler to deal with the sale without having a tenant.
So it comes down to what’s more important to you: Selling quickly or potentially getting a better deal. How cooperative you expect your tenants to be also plays a big role here.