1. Initial review
You share basic information about the property and your goals. A buyer or advisor reviews the income, expenses and condition, and asks questions.
2. Offer and negotiation
If there's a fit, you receive a letter of intent or offer outlining price, earnest money, due-diligence period, financing and closing date. Terms are often as important as price.
3. Contract and due diligence
Once a contract is signed, the buyer inspects the property, reviews leases and financials, and orders title work and often a survey. Tenants are usually notified only when inspections require unit access, and you can agree on how that's handled.
4. Closing
The title company handles funds and documents. Security deposits and prorated rents are credited to the buyer, your loan is paid off, and you receive your proceeds. Typical timelines range from about 30 to 90 days after signing, depending on financing.
This guide is general information, not legal, tax or financial advice. Talk to your own advisors about your situation.
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