Condo sales are through the roof, so to speak. Buyers love the benefits of homeownership without the stress of maintenance. If you’re ready to sell your condo, just like a home, there are still some steps you need to consider before you list it to get the best sale price possible. Here’s what I recommend asking yourself in preparation:
What are the HOA rules?
Make sure you know what the guidelines are for your property and the condo building before you plan to sell. When and how can you show the property? Is it an age-restricted community? And, though less common, does the HOA have the right of first refusal if you sell? This provision gives the HOA the right to buy the condo and negotiate before you negotiate with other offers and buyers.
What is the local market like?
Research the market by looking into the competition selling a condo at the same time. If there are multiple units for sale in the same building, try to give yourself the selling advantage by highlighting any upgrades you may have made to the interior, since all condo layouts are usually the same. Your seller’s agent will also be able to research the market for comparables to make sure you’re listing a competitive price.
When should you sell a condo?
Although the peak season to sell homes is over the summer, the condo selling season is more flexible because buyers aren’t always the same demographic as home buyers: families trying to buy, move and settle in before the school year starts. With added benefits of a condo property, like pools, tennis courts and the beach (if it’s an oceanfront condo), snowbirds and Northerners might be lured to shop around for a condo between November and April.
How should you prep your condo for showings?
Just as selling a home, selling a condo requires careful preparation strategies beforehand, including staging, marketing and upgrades. Staging, according to the National Association of REALTORS®, increases a condo’s value by 52 percent. Ultimately, you want a buyer to visualize themselves living in your space – and that means without your clutter – especially in a smaller condo floor plan. Marketing tools may include virtual staging and tours, which is key for an audience that is typically from out of town and can’t visit in person. Don’t forget to market all of the fabulous amenities offered by the condo building! And don’t forget to make all of those repairs you’ve been putting off – and maybe even consider upgrades on appliances, flooring and more.
How long should it take to sell a condo?
Because we live in a hot market, condos may come off the market in a day or two, but it really just depends on some of the other prep work you have done before you list discussed above.
Are you ready to sell your condo? Because of today’s competitive market, you’ll want Paige Bird as your real estate agent to sell your condo fast and at the price you deserve. Paige is one of the top selling agents in the area, and #1 in the state as a REMAX agent. Contact Paige Bird today so she can sit down with you to get started in the home selling process at 843-450-4773.
