2405 Howell Avenue, Mobile: A Long-Distance Rental Sale with Limited Equity

Transaction date: July 31, 2024

Managing a rental after relocating

The seller had moved for work and was managing 2405 Howell Avenue from a distance. The property was rented, the tenant’s rent was relatively low, and the lease was nearing expiration.

Why a conventional sale was constrained

The remaining financing and limited equity restricted the economics of a conventional resale. The seller’s challenge combined the financial limits of a sale with the practical responsibility of managing an occupied rental from another location.

The completed transaction

House For Cash purchased the property with the tenant in place on July 31, 2024. Existing financing remained in place as part of the transaction. This case does not establish a borrower release or a fixed date for paying off that financing.

What This Example Shows

A rental sale can be constrained by equity, lease timing and distance even when repairs are not the central issue. This transaction addressed an occupied property and existing financing together; another seller’s options would depend on their own circumstances.

Property photographs

The supplied photographs show the exterior, bathroom and kitchen of the occupied home.

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