5 Things to Know Before Selling Your Condo

5 Things to Know Before Selling your Condo

  1. Know the best time to sell: The area you are located in has more impact on the best time of year to sell than whether you’re putting a condo or a single-family house on the market. The general advice is that spring is the optimal time for selling a home, but this isn’t always true in every location. For example, a resort destination may have a different time period when sellers can be more aggressive with pricing. I will use my experience and past success to determine and suggest to you the best time to put your condo on the market.
  2. De-cluttered condos sell the fastest: Condominium units are usually smaller than single-family homes. A condo that shows well in an open house will sell faster and receive a higher price. Get all the small cosmetic touch-ups done before putting it on the market. If buyers notice minor repairs need to be done, they may assume larger problems also exist. Be sure your condo is clean and organized. Clean surfaces, organize storage areas and remove personal clutter. If you have a lawn, clear toys or equipment. Sweep steps and porches to create the most curb appeal that you can with a condo.
  3. Show off attractive features: Potential buyers can find condos attractive for many reasons, such as the following:
    The Amenities: Condos often provide access to amenities that otherwise would not be practical or affordable to a house owner. Pools, golf courses, tennis courts, fitness facilities and the location (such as a beachfront property) can be more affordable when shared by a group of owners.
    Community: Many developments offer owners a sense of community. Some even provide activities and social events for owners. Although, some developments have a high number of units that are rented – so the sense of community may not be as strong if there are short-term renters occupying units there.
    Location: Purchasing a single-family home in a desirable or luxury location (such as a beachfront) may be out of reach, but owning a condominium unit is an alternative that can provide owners a lifestyle they desire at a fraction of the cost.
    Maintenance: One of the most attractive perks to ownership is the decrease in maintenance. Individual owners are not responsible for maintenance on the building, common grounds or facilities. Many condo-owners say this gives them more free time to enjoy activities and hobbies. Others say it is a nice break after owning a single-family home for many years. We will work together to make these features a prominent selling point when listing your home.
  4. Pricing: It is important when we are working together to sell your condo to identify your desired price and bottom line price. An advantage of selling a condo is that by assessing the other units in the community that have sold recently or are currently for sale, we can determine an accurate price.
  5. Disclosures: I am familiar with the laws of our state regarding written disclosures and will walk you through the process step by step. Be prepared to disclose any problems that could affect the value. Also be aware you will be asked to disclose association documents, such as rules and regulations, and costs of common services and utilities.