Selling a condo takes a small amount of adjusting compared to a single family house. With a little bit of preparation and some advice from an expert agent, you can get your condominium sold without too much extra effort. Here are some guidelines that should help.
Talk to Your Condo Owners Association First
You may not be familiar with all the rules for selling your condo. Some rules forbid selling to certain people, or in certain ways. The board may even have to directly approve of anyone making an offer on your unit.
Avoid unexpected roadblocks by going out of your way to talk to the condo owners association in advance. Find out as much as you can about restrictions when it comes to selling or listing your property.
Get Your Unit Ready for a Sale
Take care of any maintenance issues which may make your unit look dated or neglected. Reseal any caulking and consider repainting any walls that are starting to show wear.
You can also stage your unit by rearranging your furniture. Try to make the area look spacious, but still well-configured.
Set a Fair Price
Research has shown that properties with too high of an asking price tend to be listed longer. The longer your unit stays listed, the harder it becomes to sell.
Avoid this problem by doing your research. Look at the comparable units in your building, as well as within the rest of the city. These should give you a ballpark number to work from.
Enlist a Specialized Agent
Selling a condo takes some knowledge of the market. Find an agent who truly knows the ins and outs of condo sales to make the process smoother.
They will be able to help you adjust the price for the optimum exposure without undercutting your unit’s value. An experienced agent will also be capable of helping you choose which aspects of your unit and your building to focus on for your sales pitch.
Some condos have a great view, whereas others have tempting extras such as pools or clubhouses. A savvy agent can help you determine the best features to mention for each client.
Be Up Front to the Buyer
Make sure that the buyer is fully aware of their duties as a unit owner. Inform them of the condo association dues and any other obligations they will face. Give them a copy of the declaration stating all of the building’s rules. The last thing you want is to have someone back out of an offer after discovering something that did not work for them.
With these tips, you should be better prepared to make a sale. For more advice on gearing your Shaugnessy real estate property for the market, take a look at our selling page.