Selling Your Condo? Here Are A Few Steps To Follow
No need to worry! We’ve broken down the condo-selling process into easy steps for you to follow. The process may seem daunting at first but taking it one step at a time eases things up. Here are five steps to selling your condo
Finding an agent
The first step to selling a condo is to find an agent. An agent can help you out in several ways and ultimately make the entire process much easier for you. Agents have first-hand information about the prices of condos, especially those similar to yours or in the same neighborhood as yours, so they can give you invaluable advice in setting a reasonable price for the condo. There’s also a lot of paperwork involved in the process of selling your condo, and the agent will handle most of it for you. A condo agent can also guide you with the marketing and staging process. But possibly the most important of all, your agent will carry out the negotiations with the seller for you.
Preparing The Condo
Make sure your condo is ready for its new owner well in advance of the handover. Air the rooms to ensure that no smells linger inside. You may also want to paint the condo; it will not only get rid of any long-lasting odors but also give a clean, fresh look to the place. Also, start packing any of your belongings that aren't essential everyday-use items so that the rooms and closets look spacious should anyone visit to check the condo out for themselves. Remember: a clean condo with spacious rooms is a major plus point.
Read more: Steps to Follow While Buying a Condo
Make no mistake about it: it’s all of the little things that come together to make a big impression. Just make sure that it's a good impression. Don't forget to fix any broken switches and replace lights that have gone out. Also, check the doors and windows for any creaking or damage. If there are any plumbing problems, deal with them before anyone comes to check out the condo. A condo is a living space, and small repairs and replacements are an ongoing process to keep the place clean and usable.
Reviewing the Documents
The condo’s documents include the financial statements, the condo floor plan, and documentation of the association’s meetings (minutes of the meetings, etc.) It's a good idea to sit with your agent and go through the documents once; it'll help you set the price according to the condition of the condo and the features it offers. This would also be an excellent time to start making notes on any impressive features that can be useful in marketing the condo when the time comes around. Anyone buying the condo will ask to review the documents as well, so keep them ready.
Marketing and Staging
Staging is when you prepare the property for showing to others. It typically involves modeling the condo and presenting it as a liveable space. The staging team will place furniture and decorations to dress rooms for their intended purpose so that any visitors will envision themselves living in the condo. Staging is a beneficial technique to exhibit the condo for its best value, and well-done staging can not only significantly drive up the price of your condo but also get it sold quicker and more quickly. It's also advisable to let a professional photographer take photos and videos of the condo for marketing instead of taking them yourself. Once you get an offer, your agent will negotiate the conditions, price, and closing date on your behalf. The critical thing to remember is that the final decision is yours to make. On closing day, both parties sign the final agreement and seal the deal. Congratulations, you have successfully sold your condo!