real estate

5 Strategies to Keep in Mind When Selling a Condo in Kingstowne VA

 

Homes for Sale in Kingstowne VA

 

This year is a great year for condo owners to sell their homes. Although home prices across the United States have seen a consistent rise in recent years, more and more buyers who want to downsize their homes still rush to buy homes for sale in Kingstowne VA because they want to take advantage of low mortgage rates.

 

If you are a condo owner and are thinking about selling your condo, this may be the best time to do so. However, selling a condo is not exactly the same as selling other types of homes so you need to take a lot of factors into consideration before making any decision.

 

Here are five important things you should keep in mind when selling your condo:

 

Know the DOM range for condos similar to yours

One of the first things you should do before deciding to sell your home is to look for condos for sale in Kingstowne VA that are comparable to yours in terms of unit type, floor location and square footage. Listings usually indicate the DOM (days-on-market) of properties, which refers to the number of days it takes for a property to find a buyer. By considering the DOM of homes similar to yours, you will be able to determine a reasonable timeframe for your condo to sell. 

 

Know everything about your condo

 

Condos for Sale in Kingstowne VA

 

If you want to sell your condo fast, you must be prepared to answer all the questions your potential buyers might ask. You may also need to review the HOA (homeowner association) rules to determine which parts of your unit you need to work on. HOA rules help you know which flaws fall within acceptable standards or need some improvements.

 

Decide which repairs or improvements are worthwhile

Since renovations involve money, you have to determine which improvements are worthwhile and which are not. Of course, you need to prepare your home before officially listing it, but you can’t just do a total makeover without giving it some thought. 

 

Try to reduce listing costs

While there are plenty of ways you can save on listing costs when selling a home, never skip the standard commission of a real estate agent. Having an agent to represent you in your transactions will make it much easier for you to find potential buyers for your property. Some of the ways you can reduce listing costs while working with an agent include staging your home yourself and hiring a contractor that can do repairs at a much lower rate. 

 

Reviewing the clauses in your buyer’s first offer

One of the most exciting things sellers look forward to when selling a home is receiving their first offer. Although receiving an initial offer for your property can be truly exciting, don’t get carried away immediately. Screen the clauses of the offer, especially the timeframe for the buyer’s obligations, closing adjustments and other addendums. 

 

Are you planning to sell your home in Kingstowne VA? Then contact me today at 703-431-3755 and I’ll help you get started! I am Amanda Davidson, Kingstowne’s top REALTOR!

 

In case you can not view this video here, please click the link below to view 5 Strategies to Keep in Mind When Selling a Condo in Kingstowne VA on my YouTube channel: https://www.youtube.com/watch?v=MCqK5f8g8PM&feature=youtu.be.

 

 

9 Do's and Don'ts in Selling Your Kingstowne VA Condo

Moving out of your condo?

No matter how much you love your Kingstowne VA 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 assets.

Condo units are pretty much all the same — in size, features, and amenities. 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 cheapest way you can 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 rules to successfully sell your condo in Kingstowne.

For more home selling tips, visit http://www.AmandaDavidson.com.

Planning to sell your condo soon? Call me, Amanda Davidson, at 703-431-3755.