Seller Guides
Selling An Apartment Building, Whatever The Situation
Practical guides for owners of buildings with five or more units — from tenants in place and inherited property to code violations, seller financing, 1031 exchanges, and rent control.
Guides By Situation
Complete Seller’s GuideThe complete guide to selling an apartment building: your options, how buyers value it, taxes, timeline, and documents to prepare.Selling With Tenants In PlaceHow to sell a rental property with tenants in place: leases, showing notice, deposit transfer rules, prorations and how occupancy affects price.Tired Of Being A LandlordWorn out by tenants, repairs, and rising costs? How to decide whether to sell a stressful rental building and exit with less hassle.Inherited Apartment BuildingSelling an inherited apartment building: authority to sell, stepped-up basis, co-heir decisions, and selling from out of state.Vacant Or Distressed BuildingOptions for selling a vacant, damaged or financially stressed apartment building as-is, and how buyers price the work ahead.Code Violations & Open PermitsHow open violations, expired permits and unpermitted units affect the sale of an apartment building, and what buyers need to see.Seller Financing An Apartment BuildingHow seller-carry terms work on an apartment sale, the trade-offs for the seller and the general installment-sale tax picture.Selling Into A 1031 ExchangeThe seller side of a 1031 exchange: 45- and 180-day rules, the qualified intermediary and timing your apartment sale.Selling A PortfolioHow to sell several apartment buildings at once, in tranches or one by one, including portfolios with mixed conditions.Selling Off-MarketWhat an off-market apartment sale involves, how it compares with listing, and how to keep it private and vet the buyer.Rent-Controlled BuildingsHow rent control, stabilization and statewide caps affect value and underwriting, and how to sell a regulated apartment building well.For Brokers & AgentsFor agents and brokers: what Skyline buys, what to send, how fast we respond and how we work through you.1031 Exchange GuideHow a 1031 exchange works: what qualifies, the 45/180-day deadlines, boot, intermediaries, reverse and DST exchanges, with a worked example.1031 Exchange RulesEvery 1031 exchange rule with its source: the 45/180-day timeline, 3-property, 200% and 95% rules, boot, related parties and California.1031 Qualified IntermediaryWhat a 1031 qualified intermediary does, who is disqualified, the 9 states with QI laws, fee types and the questions to ask.1031 Exchange On A RentalHow a 1031 exchange works on a rental or investment property: what qualifies, holding periods, commercial swaps, boot and depreciation.1031 Exchange & Your HomeWhy a home you live in cannot be exchanged, how Section 121 and 1031 combine, the 2-year and 5-year rules and second-home safe harbor.Sell Commercial PropertyHow to sell commercial property: valuation, buyers, documents, selling by owner, taxes and where apartment owners fit.Taxes When You Sell A RentalHow a rental property sale is taxed in 2026: recapture, capital gains, NIIT, state tax, suspended losses and a $3M 20-unit example.Should I Sell My Rental?Sell or keep your rental? A worked comparison, signs it is time to sell, the tax you would owe and options in retirement.Capital Gains Tax On Real EstateCapital gains tax on a home sale and on investment property in 2026: the $250K/$500K exclusion, rates, deferral and a calculator.Commercial Property BuyersA direct buyer for 5+ unit apartment buildings in 47 states: what we buy, what we don’t, and how to sell commercial property fast and as-is.Sell Investment PropertyHow to sell investment property: your options, the tax picture, 1031 and installment sales, and selling with tenants in place.Seller Financing ExplainedWhat seller financing is, how owner financing works, common structures, a worked example and the tax rules for sellers.Installment SalesHow the installment method spreads the tax on a property sale, what it cannot defer and the traps on large notes.Partition ActionsHow a partition action forces the sale of co-owned property, what it costs, buyout rights and how heirs split the proceeds.Step-Up In BasisHow a step up in basis resets inherited property to date-of-death value, erases recapture and cuts capital gains when heirs sell.Commercial Property ForeclosureHow commercial foreclosure works for 5+ unit buildings, the tax hit, and how selling before the sale can save your equity.Wraparound MortgagesHow a wraparound mortgage works, how sellers earn the rate spread, the due-on-sale risk and how the IRS taxes a wrap.Land ContractsHow a land contract works, who holds title, forfeiture vs foreclosure by state, installment sale taxes and a worked example.Buying Subject ToWhat buying subject to a mortgage means, the due-on-sale risk, and why 5+ unit sellers usually do better with an assumption.Assumable MortgagesHow a buyer takes over your Fannie Mae, Freddie Mac, HUD or CMBS loan, what it costs and how a low rate lifts your price.Defeasance & Yield MaintenanceHow yield maintenance and defeasance are calculated, what each costs on a sale and when a loan assumption is cheaper.Tenants In CommonHow tenants in common own property, how TIC differs from joint tenancy and how to sell a share, buy out an owner or partition.Deed In Lieu Of ForeclosureHow a deed in lieu of foreclosure works on an apartment loan, what lenders require, and the tax hit on recourse vs non-recourse debt.Phase 1 EnvironmentalWhat a Phase 1 environmental site assessment covers, what RECs mean, lender rules and what apartment sellers should prepare.Cash For KeysHow cash for keys tenant buyouts work, what drives the amount, relocation rules and when a buyout beats eviction.Tenant Estoppel CertificatesWhat a tenant estoppel certificate confirms, who asks for one and how sellers handle gaps between estoppels and the rent roll.Property Management FeesWhat a property manager costs, every common fee, how fees cut NOI and value, and when selling beats hiring a manager.Landlord-Tenant LawA national overview of landlord tenant law for apartment owners: deposits, repairs, notices, eviction, federal rules and selling.Property Tax AppealsHow to appeal the assessment on an apartment building: the income approach, evidence, state deadlines and the savings math.Real Estate Transfer TaxHow real estate transfer tax is calculated, who pays it, local and mansion add-ons, entity transfers, 1031 exchanges and an example.Quitclaim DeedsWhat a quitclaim deed does, how it compares with warranty and grant deeds and the loan, title and tax issues it can trigger.Transfer On Death DeedsHow a transfer on death deed passes a rental building outside probate, how it compares with a trust and the tax on selling after.Life Estate DeedsHow a life estate deed splits ownership, who signs to sell, how the stepped-up basis works and what it means for a rental.Seller Closing CostsWhat comes out of your check when you sell an apartment building: costs, prorations, payoff, taxes and a $3M example.Apartment Building AppraisalsHow a commercial appraisal of a 5+ unit building works: who orders it, the rules, cap rates, comps and how to fight a low value.Cash-Out Refinance vs. SellingCash-out refinance vs selling a 5+ unit building: loan sizing, costs, taxes, 1031 and a $6M side-by-side example.The Eviction ProcessHow the eviction process works for apartment owners: notice types, 3-day notice rules by state, court steps, costs and alternatives.LLCs For Rental PropertyHow an LLC protects a rental, how it’s taxed, what deeding a building in can trigger and how LLC-owned buildings sell.Section 8 For LandlordsHow the Housing Choice Voucher program works for owners: HAP contracts, payment standards, inspections, rent rules and selling.Apartment Building InsuranceThe coverages a 5+ unit building needs, what lenders require, why premiums rose and how a renewal changes NOI and value.Fair Housing For LandlordsWhat the Fair Housing Act requires of landlords, 2025-2026 HUD changes, exemptions, and lead-based paint disclosure rules.Tenant ScreeningTenant screening rules for apartment owners: FCRA duties, adverse action notices, state fee caps and an income ratio example.Rent Increase LawsRent increase notice periods by state, caps, retaliation rules and how raising rents to market changes an apartment building’s value.When A Tenant Breaks A LeaseWhat landlords can recover when a tenant breaks a lease: mitigation, termination fees, protected terminations and a damages example.Month-To-Month LeasesMonth to month lease rules for apartment owners: notice to vacate by state, just-cause limits, holdover tenants and how buyers value them.Security Deposit LawsSecurity deposit laws for apartment owners: limits, return deadlines and interest by state, wear and tear, move-out checklist and sales.Warranty Of HabitabilityThe warranty of habitability for apartment owners: landlord duties by state, tenant remedies, code enforcement and selling as-is.Squatters And Adverse PossessionWhat squatters can and can’t claim, adverse possession periods by state, the new anti-squatter laws and how squatters affect a sale.Certificates Of OccupancyWhat a certificate of occupancy is, when it’s required, how lenders treat a missing CO and the math on legalizing units.Property Condition AssessmentsWhat a property condition assessment covers, how lenders size repairs and reserves and how deferred maintenance cuts the price.Probate Real Estate SalesHow a probate sale works: executor authority, court confirmation vs independent administration, overbids, tenants and net to heirs.Broker Opinion Of ValueHow a broker opinion of value (BOV) is built for an apartment building, how to spot an inflated one, and how pocket listings work.Net Investment Income TaxHow the 3.8% NIIT hits rental income and property sales, the $200k/$250k thresholds, the 500-hour safe harbor and Form 8960.Section 1231 & 1250 GainHow section 1231 gain, the 5-year lookback, unrecaptured 1250 gain at 25% and 1245 recapture split the tax on a building sale.Family Limited PartnershipsHow a family limited partnership holds rental property: discounts, 2026 gift and estate tax figures, IRS 2036 attacks and basis.Capital Gains Tax By StateA 50-state comparison of 2026 capital gains tax on real estate: rates, exclusions, surtaxes and nonresident rules.States With No Capital Gains TaxWhich states don’t tax capital gains, what real estate sellers still owe and how source rules and 1031 clawbacks follow the gain.Landlord-Friendly StatesA 50-state comparison of eviction notice periods, days to possession and rent control status, grouped by clear criteria.Washington DC Eviction ProcessDC’s 10-day rent notice, just-cause grounds, 14-day summons, redemption, Marshal evictions, TOPA and a $1,950 unit example.Los Angeles Eviction ProcessLA’s RSO and Just Cause rules, the unpaid rent threshold, LAHD notice filing, right to counsel, relocation and a cost example.San Francisco Eviction ProcessSan Francisco’s just cause rules, Rent Board notice filing, free tenant counsel, 2026 relocation amounts and the buyout timeline.Oakland Eviction ProcessOakland’s just causes, the Fair Market Rent threshold, RAP filing, school-year limits, 2026 relocation and Hayward court steps.San Jose Eviction ProcessSan Jose’s 13 TPO just causes, the 3-day city notice copy, ARO limits, relocation amounts and how the downtown court works.San Diego Eviction ProcessSan Diego’s just cause from day one, the cure-first rule, 2- or 3-month relocation, remodel limits and the downtown court.Berkeley Eviction ProcessBerkeley’s good causes, required notice allegations, Rent Board filing in 3 business days, registration fees and OMI relocation.NYC Eviction ProcessHow NYC evictions work: borough Housing Court, HPD registration, rent stabilization, Right to Counsel and city marshals.Newark Eviction ProcessHow Newark evictions work: Essex County Special Civil Part, rent control limits on arrears, registration and tenant counsel.Jersey City Eviction ProcessHow Jersey City evictions work: Hudson County Special Civil Part, Chapter 260 rent control, the 2026 audit and tenant counsel.Philadelphia Eviction ProcessHow Philadelphia evictions work: Eviction Diversion, Municipal Court, rental licenses and the November 2026 good cause expansion.Boston Eviction ProcessHow Boston evictions work: Eastern Housing Court, the city notice filing with Housing Stability and the rental registry.Seattle Eviction ProcessSeattle’s just cause list, winter and school-year defenses, right to counsel, King County hearings and a $2,200 unit example.Portland Eviction ProcessPortland’s relocation payments, 90-day notices, Multnomah County court practice, sheriff fees and a four-unit renovation example.Chicago Eviction ProcessChicago’s RLTO cure right, Fair Notice periods, Daley Center eviction court, ERP, sheriff rules and a $1,750 unit example.Minneapolis Eviction ProcessMinneapolis’s 30-day pre-eviction notice, rental license duties, right to counsel, Housing Court and a $1,450 unit example.St. Paul Eviction ProcessSt. Paul’s 60-day pre-eviction notice, Chapter 193 protections, rent stabilization, Ramsey County court and a $1,350 unit example.Baltimore Eviction ProcessHow evictions work in Baltimore City: Rent Court, the rental license, right to counsel and the 14-day Sheriff notice.Montgomery County MD Eviction ProcessHow evictions work in Montgomery County, MD: District Court, the 14-day notice to tenant and DHCA, Sheriff crews and rent stabilization.Denver Eviction ProcessHow evictions work in Denver: Denver County Court, the rental license, the tenant rights notice, free defense and the Sheriff’s writ rules.Boulder Eviction ProcessHow evictions work in Boulder: the EPRAS notice and rental tax, Friday FED dockets, the rental license and the Sheriff’s writ.Detroit Eviction ProcessHow evictions work in Detroit: the certificate of compliance, rent escrow, right to counsel and 36th District Court officer evictions.Atlanta Eviction ProcessHow Atlanta evictions run through Fulton and DeKalb magistrate courts, marshal scheduling and the city’s rent help programs.Houston Eviction ProcessHow Houston evictions move through Harris County justice courts and constables in 2026, with local fees and city apartment rules.Dallas Eviction ProcessHow Dallas evictions work in 2026: Dallas County JP courts and fees, constables, and the status of the city’s eviction notice ordinance.Phoenix Eviction ProcessHow Phoenix evictions run through Maricopa County justice courts and constables, with local fees, paperwork and city programs.States Without Property TaxEvery state has property tax. All 50 states and DC ranked by 2026 effective rate, the lowest-tax states and no-income-tax trade-offs.Rent Control In MassachusettsMassachusetts has no rent control under Chapter 40P. The 1994 vote, pending home-rule petitions, the 2026 ballot and the tenant rules that still apply.
Rent Control By State
Rent Control In CaliforniaHow AB 1482, city rent ordinances, Costa-Hawkins and Prop 13 shape the value and sale of a California apartment building.Rent Stabilization In New YorkHow New York rent stabilization, the 2019 HSTPA and Rent Guidelines Board orders shape the value and sale of a regulated building.Rent Control In New JerseyHow New Jersey municipal rent ordinances, the new-construction exemption and the Anti-Eviction Act affect selling an apartment building.Oregon’s Rent CapHow Oregon’s statewide rent cap, the 15-year exemption, just-cause rules and Portland relocation rules shape the sale of an apartment building.Washington’s Rent CapHow Washington’s HB 1217 rent cap, the 12-year exemption, notice rules and Seattle requirements affect selling an apartment building.
Taxes & Rules By State
Compare rules state by state · Property tax by state, lowest to highest ·Seller document checklist · Glossary · Investing rather than selling? See our investor guides.
Free Calculators
Building Value CalculatorEstimate your apartment building’s value from NOI and a market cap rate, and learn the three ways commercial property is valued.Cap Rate CalculatorFind the cap rate from price and NOI, or build NOI from rents and expenses, then see price per unit, value at a target cap and 2026 benchmarks.Capital Gains Tax CalculatorEstimate 2026 federal and state capital gains tax, depreciation recapture and net proceeds when you sell a rental building.1031 Exchange CalculatorEstimate realized gain, cash and mortgage boot, taxable gain, deferred tax and the replacement property’s basis.Depreciation Recapture CalculatorEstimate depreciation taken, the recaptured share of your gain and the tax at up to 25% when you sell a rental building.NOI CalculatorWhat NOI means, the formula, actual vs pro forma NOI, and a calculator that builds NOI from rent, vacancy and expenses.GRM CalculatorFind a property’s gross rent multiplier or estimate value from a market GRM.Cash-On-Cash CalculatorMeasure the yearly pre-tax cash flow a rental property returns on the cash you invest, with the formula and an Excel setup.DSCR CalculatorAnnual debt service, debt service coverage ratio, debt yield and maximum loan at a lender’s DSCR, with 2026 agency and HUD minimums.IRR & Equity Multiple CalculatorCalculate real estate IRR and equity multiple from your investment, distributions, hold period and exit, and learn how to read them.Cost Segregation CalculatorCompare year-one depreciation with and without a cost segregation study, including bonus depreciation and potential tax value.Rental Property CalculatorEstimate a rental’s cash flow, NOI, cap rate, cash-on-cash return, principal paydown and total first-year return from price, loan and rents.Property Tax CalculatorEstimate annual, monthly and per-unit property tax from your state’s average effective rate, your local rate and assessment ratio.Seller Financing CalculatorPayment, interest, balloon and total received on a seller-financed note, plus the gross profit percentage and first-year gain.Commercial Mortgage CalculatorLoan amount, payment, balloon, DSCR, debt yield and the maximum loan at 1.25x on a commercial or multifamily mortgage.Balloon Payment CalculatorMonthly payment, interest and principal paid, and the balloon balance due on a loan that matures before it’s paid off.Loan-To-Value CalculatorLTV, combined LTV, equity, the maximum loan at your target LTV and cash-out available on an apartment or investment property.Transfer Tax CalculatorState and local transfer tax, the total, the effective rate and the seller’s and buyer’s shares on a real estate sale.Net Proceeds CalculatorTotal selling costs, net proceeds before tax and net as a % of price after loan payoff, commission, transfer tax and credits.Amortization Schedule CalculatorMonthly payment, total interest, payoff time, interest saved from extra principal and a year-by-year loan balance table.
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