Moving out of your condo?
No matter how much you love your Kingstowne condo, the time will come when you’ll have to move out and sell your place.
Selling a condo is not the same as selling a single-family home. There are some unique challenges in condo selling that make it considerably more difficult than selling a home.
Things you need to remember when selling your Kingstowne VA condo
If you’re planning to put your condo up for sale, here are nine tips to make your property stand out in the market.
1. DO know how much your condo is worth.
Price is one of the most important factors buyers consider in looking for a condo. When you price your condo too high, it scares off buyers, causing you to lose a lot of potential buyers. When you price it too low, you’ll lose a good amount of money, which is not a good idea.
The good news is you’ll always have comps when it comes to condos because there are plenty of units in the building that are the same size. If you live in a condo complex which houses two to four condo buildings, you get a lot of comps, which makes pricing easier.
Granted, there will be slight differences in price because end unit condos are considered quieter and can command a higher price, but with the help of your real estate agent, you can get a very good estimate of your condo’s worth.
2. DO hire a real estate agent who is experienced in selling condos.
One of the worst mistakes you can do in selling your home is hiring someone who has limited knowledge and no experience in condo selling. While a condo may not be as big of an investment as a home, it’s still a large financial investment. As such, you can’t place it in the hands of just anyone.
Consider the task of hiring a real estate agent for your condo a serious matter. Ask questions about his or her experience and skills. Ask for references.
Make sure that you are placing your trust in the right person.
3. DO know your condo’s rules regarding condo selling.
Condos are managed by the condo association, and they have a long list of rules and regulations when it comes to condo living, as well as condo selling. Make sure you know what these rules are so you’re able to follow them. Signage is a big one when it comes time to sell.
4. DO keep all your documents in one place.
Listing contracts, condo rules and regulations, receipts of any home improvements you’ve done, etc — keep everything together and put them in a safe place. Doing this helps make the selling process easier because you know where to find important papers.
5. DO highlight your condos assets.
Over the years, you’ve probably made some updates to make your home more appealing.
Perhaps you’ve replaced the bathroom tiles and kitchen countertop. Maybe you’ve had backsplash installed. Perhaps you replaced the carpet with hardwood floor.
When you plan to sell your condo, list down all its assets as well as the updates you’ve made. Doing this will help the buyer easily identify what makes your condo more appealing over others.
6. DO prepare your condo for the sale.
Cleaning is the most frugal thing you can do to get your condo ready for the market.
Get rid of any excess stuff so you can make your living space look bigger. Clean your windows so more natural light can come in and make your home look brighter.
Do all necessary repairs to make your condo as move-in ready as possible. Buyers prefer homes with little to no repairs needed because it is more convenient
7. DO stage your condo to make it more attractive.
Set up your condo in a way that will make it look inviting and relaxing. If you don’t know how to stage, seek help from your real estate agent or consider hiring a professional stager.
8. DON’T make costly improvements before selling.
If you’re planning to sell your condo, don’t make any major improvements unless absolutely necessary. Simple cosmetic updates like painting, replacing door knobs and lights will provide a better ROI.
9. DON’T let your emotions control you during negotiations.
One of the common mistakes I see sellers do is getting too emotional when they think the condo is being criticized by a potential buyer, and in the process lose out on a good deal. Remember that selling a home is a business transaction, and while you may have an emotional investment in the condo, the buyer does not.
Selling your condo can be a great learning experience. Follow these tips to successfully sell your condo in Kingstowne.
Planning to sell your condo soon? Call me, Amanda Davidson, at 703-431-3755.