Things to consider while selling a condo
Tuesday Jan 25th, 2022
Thinking of selling your condo to benefit from soaring property prices in the market? Whether you live in a condo or have purchased one as an investment, if you have decided to sell your condo, then it is best to speak to a qualified real estate agent for the purpose. By evaluating the features of your condo, the time of the year, the regional markets, and more, you can develop a customized marketing plan for selling your condo. Here are a few important tips to consider while you are planning to sell your condo.
Best time of the year to sell your condo
The specifics of your area do more in determining the best time of the year to list your condo on the market. The conventional wisdom dictates that spring is the best time for selling a home. However, this does not hold true for every locality. Your real estate agent would be a better person to suggest a distinct time and sale strategy for your condo especially if you own in a resort destination.
Open house strategy & how to de-clutter
A condo that is de-cluttered and appears in its best shape will sell faster and that too at a higher price. Small cosmetic touch-ups can make a major difference to the rate at which your property would sell. Buyers suspect serious issues if they notice minor repairs while visiting your property. If you want to sell your condo, it is important to make sure that your condo is tidy, free of clutter, and clean. Make sure that the counters of toiletries and dishes are clean. Replace all the dim light bulbs and make sure to clean the windows. Even though your garden area may be commonly owned, spend some time improving the curb appeal. Clean the porches and the front steps, clear the lawns of any equipment or toys.
Features to focus on
One of the best features you can accentuate while selling a condo is the ease of lifestyle that would come with condo ownership. Several buyers are looking for a hassle-free living experience that would not come with a detached house. Another important attribute of any condo is the amenities of the association that can include a fitness center, hot tub, owner’s lounge, covered parking, and also concierge services. If you are planning to sell your condo, then make sure to take the time to walk through it methodically with your real estate agent.
You can also point out the features that you feel should be accentuated to attract potential buyers. Does your condo unit provide wonderful views? Perhaps the location of your condo is desirable and unique. Your real estate agent can help you accentuate these features in the marketing and sales materials.
Desired price and setting the bottom line price
While setting the sale price for your condo, you need to make sure to identify the desired price as well as the bottom line price. You can access the recent condo sale and listings in your area and also speak to a licensed appraiser to help you estimate your property’s worth. Working with an agent will help you set the initial price as well as the absolute lowest price you could comfortably accept for your condo unit.
While selling your condo unit, you may be obligated to disclose the problems that could impact your property’s desirability and value. It is illegal in many places to conceal major physical defects fraudulently such as water heater leaks and more. Hence, as a seller, you need to take a proactive role by making written disclosures on the condition of the condo unit. Also, ask the real estate agent for particular laws of your province.