Most people assume that selling a condo is exactly like selling a single-family house. But there are some major differences that buyers and sellers should know before putting their condo on the market.
A Part of a Whole
A condo is defined as being one unit in a building of many units, which means that control of its surroundings are very limited if any. Because they are in a unit, sellers do not have any control over the appearance of the inside or outside of the building. Owners are not allowed to make changes outside of their units which could be in need of some curb appeal or new carpeting in the halls of the building. As a part of a whole, you are not only selling the condo, but you are essentially handing over the key to the financial position of the entire building. The troubles of the whole does not end when the person moves out, it affects everyone else in the building.
When selling a condo, obtain a status certificate that will show what percentages your unit is responsible for. These are condo fees, assessments, and any claims against the condo. These can be found with your management company and the board of directors. If there are any fees outstanding with your condo, make sure to pay those fees. Many places will make you pay them before transferring the condo over to someone else.
Selling Your Condo
As when selling a home, make sure to check the competition. When choosing a realtor, check to make sure they have experience in selling condos. It is important to find someone that knows about the area as well as the specific tactics used to sell condos. They can advise you how to maximize your condo’s appeal and help it sell faster. Another trick to selling your condo faster is to stage it. Make sure buyers can picture themselves living inside the condo by removing clutter and pictures. Make the unit feel larger by removing extra furniture. For more tips on staging, visit our blog on how to stage your home.
Whether you have been living in your condo for many years or need to sell it for a new opportunity, approaching this sale is different than selling a single-family home. Keep an eye on the market and know that selling any property takes time. But with Simply Referable, we can help take some of your worries away!
Simply Referable Can Help Find the Right Buyer for You
The small team of realtors at Simply Referable is deeply focused on creating a memorable selling experience for you and your family. Each of our team members has an area of expertise, and we strive to form lasting bonds with each of our clients. We want to be your go-to realtors every time you or a friend wants to make a change. With local experience, our realtors can help you choose a house that is just the right fit for your family, now and forever. Contact us online or give us a call at 410-983-9045.