Wilmington is dense with older rowhouses and small multifamily buildings, and tenant-occupied sales are a recurring situation in the city data. Owners who have carried one for years know the pattern. A tenant leaves, the repairs stack up, and the rent does not cover the next round. Neighborhood names in the city data, such as Browntown, Hilltop, Eastside, Riverside and Union Park Gardens, describe the city's pockets. Your block and your building still decide the offer.
No obligation. We respond within 24 hours.
Kaizen Home Buyers makes a cash offer on rental properties as they are, with no repairs and no agent commission on our side. We respond within 24 hours, and closing can be 14 to 30 days out or on your date. If tenants are in place, tell us. We will talk about timing around the lease.
The Delaware realty transfer tax chapter sets a state rate of 3 percent, or 2.5 percent where the municipality or county has enacted the full authorized 1.5 percent local tax, and the statute divides the state charge equally between grantor and grantee. Local rates add to that. Ask the closing office for the number on the actual deed instead of guessing from a percentage, and how it will appear on your statement.
State law recognizes liens for specified property taxes and public charges, and the county recorder keeps deeds, mortgages and releases. Before a landlord counts on proceeds, the title company should run the parcel and list every payoff. A title search before you commit is better than a surprise at closing.
The city data lists aging urban housing with lead paint and Christina River flooding among Wilmington's recurring issues. It does not say they apply to every property. If you have lead inspection reports, flood claims or repair invoices, hand them over. Delaware's flood planning tool lets you check an address, and the census shows buildings from before 1940 are the city's largest age group. A cash buyer prices what is actually there, and a seller who shows the paperwork can get a more accurate number than one who leaves the buyer to guess.
Call or text 267-329-0084 with the Wilmington address, the unit count and the lease situation. We view the property and send a cash offer within 24 hours. You do not have to repaint, patch walls or fix a back unit first.
If tenants are leaving, we can close after the move-out. If they are staying, we discuss the timing. We cannot promise a price before seeing the property, and a listing may bring more for a well-kept building. Compare the two after commission, repairs and vacancy. If the building is stable and the tenants pay, keeping it may beat both. If the next turnover looks costly, the certainty of a date is worth a number on paper. Ask a tax professional how a sale affects depreciation you already claimed before you decide.
Not necessarily. Many rentals sell with tenants in place. Ask a Delaware landlord-tenant attorney what your lease and state law require before you promise a move-out date.
The statute divides the state charge equally between buyer and seller, and a local layer can apply. The closing office shows the exact figure for your deed.
Tell us how many and which are occupied. Wilmington's small multifamily buildings are part of the city's housing mix. We review the whole building as it stands.
A lien must be paid or cleared at closing. Ask the title company for a search of the recorder's records and state liens early.
General information, not legal or tax advice. Rules change; confirm details with the office or a professional.
No obligation. No fees. Just a fair offer from a local buyer.