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Real Estate Work
Selling Your Condo
Planning to sell your condo? We are here to help you. We understand the importance of making good investments and selling your property at the best market price. The decision of selling a property is financial in nature, but the management and planning come attached to it.
Selling your home needs your attention, and you also have to time it perfectly to ensure the release of the funds exactly when it is required for your future investments, making the decision and timing of sale critical for your future endeavors. Therefore, for helping you with the selling process and guiding you each step of the way, we have prepared this selling guide to make your home selling experience smooth and stress-free, assuring maximum benefit.
Is Timing Important?
We start this guide, for selling your condo by discussing how critical is timing for sale? The answer is not straight forward. According to some, spring months are the best while New Year and the middle summer are the worst times for selling the property.
However, the fact remains that it is hardly our choice to decide the timing of the sale. The urgent need for funds may take over our long term plans and compel for immediate action to sell. But if the time permits, the seller should choose March and April months in general as most buyers are active at this time of the year. But even if you pick some other time, with good market research and preparation, the property can still be sold promptly at good margins without any complications.
Getting ready for the sale
As a general rule, the condo should look its best when the potential buyer approaches for the inspection. Therefore you need to make necessary arrangements to present the property in the best possible state to attract the buyers. Below are the two prime requisites for making your property ready for sale.
- Make your property look attractive and well maintained. The facade presents the first impression to the home, the neatness is a prime requirement but along with it fixing the exterior is indispensable, in tendering a perfect view of the property.
- Make the interior of the home look appealing. Thoroughly cleaning the home makes the more presentable. The buyer visualizes the property with his setup and personal requirements in mind. So the key is to declutter, remove as much of your personal belongings as possible and place the big furniture in the store, presenting the full view of the available space and making the rooms look bigger than before. If you are selling to the rental market, the more spacious it seems, the higher the potential returns for investors.
The Marketing Process
Handing over the keys
The Marketing Process
Condos do pose some challenges as they tend to be smaller than houses and its difficult to present them at their best in the form of photos or videos. Many condos do not allow open houses for security reasons. In that case, your will restrict the buyers to inspect by appointment.
With a good agent, you will soon have many potential buyers for the property. And the agent will be taking appointments for showing your home to interested clients. Some sellers take interest and engage with the process of site inspection by the buyer. However, it is not required, rather it is advisable to let the agent handle it alone and not interfere in the process. On your part, you can clean the condo for the appointment date and be flexible for giving appointments in the evenings also, if needed.
Once the inspection is over, the price offers will pour in. The market situation influences the price bids significantly. However, consider all parameters and terms of the offers before finalizing. Firstly, the bid price for the property should be weighed along with the terms of the deal as the date of closing of the agreement, the deposits the buyer is prepared to put down. And any other specific condition for the possession by the buyer needs to be considered carefully. For more than one offers the agent will suggest you the best foot forward to maximize the selling price, using their expertise you can employ the best strategy but do provide inputs from your side to shape it perfectly as per your requirements to fix the most lucrative deal for the property.
Once you accept an offer, the buyer is obliged to pay the proposed deposit within 24 hours. Thereafter, it is for your lawyer to handle all the legal aspects and paperwork related to the transaction.