If you’re looking to streamline a condo sale, there are some tactics you can use to increase the chances of a quick, fair sale. Unlike selling a traditional, single-family home, there are some additional considerations you’ll want to keep in mind.
WiseBread put together a helpful piece reviewing six tips for selling your condo quickly. Here’s an overview of the six tips, though you’ll want to read the full piece for a little more information:
1. Review the DOM range for comparable condos. As you well know “Days On Market” can be a valuable stat for understanding what “quick sale” means in your market.
2. Decide what improvements are worthwhile. The key here? High-value, high-return, high-impact renovations. This doesn’t necessarily mean heavy construction.
3. Gather documentation and review HOA rules. Given your condo shares a building with other condos, you can bet there will be some rules about what can and can’t be done. Don’t run afoul!
4. Look for ways to minimize listing costs. This doesn’t mean going full FSBO. In fact, using a real estate agent can be the key to securing affordable contractors and learning a bit about self-staging the property.
5. Screen the clauses in your buyer’s initial offer. Understand what “Acceptable to buyer” adjustments mean, as well as time frame for buyer obligations, and additional addendum.
6. Understand your BATNA. That’s “Best Alternative to a Negotiated Agreement,” and if you don’t get this concept, read tip #6 carefully.
Let’s move a condo! Read the details for each tip here:
https://www.wisebread.com/6-tips-to-sell-your-condo-fast
