HOW TO SELL A CONDO
Sell Your Condo Fast & For Top Dollars!
Written By: Deedar Ghatehorde BROKER of World Class Realty Point Inc. Brokerage Toronto.
If you’re looking for a realtor to help you sell your condo, call me today @ 647-892-2004
How to sell your condo? There are some key steps you do not want to miss.
This blog will share the best tips for selling a condo and to ensure that your place sells fast and for the most amount of money!
You have to set your condo apart from others on the market and attract more buyers.
Read on for our top-selling condo tips.
Check out these top “Selling a Condo” Tips are
- The listing price has to be carefully decided. Ask your realtor as to why the suggested price is the best?
- Hire a knowledgeable realtor that has experience selling condos
- Stage your condo using a professional.
- Decide what improvements will have a high ROI
- Get your condo docs together
- Know your condo fees, assessments, and past history
- Prepare for the home inspection
- Be accommodating with showings
- Pack and tidy up at the same time!
- Order the status certificate, the day you list.
For more details on the importance of each point, keep reading!
Decide on the RIGHT listing price
- Pack and tidy up at the same time!
When selling your condo, you’ll want to make sure that your price right the first time. The first week is your opportunity for the most traction on your listing, and if you price too high you will scare away a serious buyer.
Review the comparables for both active and sold properties within the last 60-90 days with your realtor. Compare the suggested price and how your condo compares to those, and determine the best strategy from there.
Hire a realtor that has experience selling condos
The condo process requires knowledge on strata documents, buildings, depreciation and more. It’s important that you hire a realtor that has experience selling condos and is familiar with the process and the target market.
An experienced realtor will be one of your best assets for selling your condo fast and for the most money – they’ll know the market, how to price a condo, and how to communicate important condo information that someone not familiar with condos may not know.
Stage your condo properly
A condo is typically a smaller space that a townhouse or detached home, so it’s important that you use the space effectively to make it feel open and spacious.
Staging your condo – whether professionally or just sprucing it up yourself – can increase your selling price significantly. Real estate is emotional, and if you can make a buyer fall in love with your condo then you’re more likely to get a higher price.
Decide what improvements will fetch the highest returns.
Get your condo documentation together
It’s important to have your condo documentation ready and prepared. Property taxes, maintenance fees and condo corporation management contact information. It will allow buyers to review the documentation in advance and possibly shorten the conditional period or remove the conditions altogether.
Know your condo fees, assessments, and past history
One of the common questions a buyer will ask is regarding the current maintenance fees, any recent increases, special assessments (aka levies) due and what has been paid in the past 5 years. Having all of that information together for the buyer will help them feel at ease knowing that you are prepared and open to answering their questions.
Prepare for the home inspection
When you get an accepted offer it is likely that it will be subject to home inspection. If you know the dishwasher isn’t working, or you’ve been meaning to replace the bathtub faucet then now is the time to do it. You’ll want to make sure that the home inspection goes as smooth as possible, as this is typically where buyers get cold feet.
Be accommodating with showings
The more people that see your place, the more offers you’re likely to receive. If you can be accommodating with showings and have an open house at the “standard” Saturday & Sunday 2-4pm time period that buyers are expecting to be out searching for homes then your exposure will increase. More exposure = more money & a faster sale.
Pack and tidy up at the same time!
You’ll want to make sure that all your stuff doesn’t fall out of the closet as soon as a buyer opens it, so use the home selling process as a time to start packing and possibly move things to a storage unit. The tidier the place is the more likely the buyer is to perceive it as well taken care of.
Order the status certificate:
This document provides information about building reserves and Management of building among other things during offer negotiation the doc. will reduce condition period.
Are you thinking about selling your condo? Call us today at 647-892-2004. Or email us at [email protected] to start a conversation!
Need to make sure your home sells quickly and for the most? We have you covered.
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