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As you know, the real estate market is down. What does this really mean? It means that there are more properties available than buyers. Does this mean you can’t move your condominium? Of course, not.
Getting a sign out on your property is a vital first step. This sounds obvious, but most homeowners’ associations do not allow them. The outer walls and grass areas around your condo are not yours, so you can’t post anything there. Such is condo life.
Technically, the inside of the window on a condo is yours, but the outside is not. If you want to post a sign, and you do, guess where you should put it? Yep. The inside of the window. Use a window people can see when passing buy.
Mention the word condo and everyone thinks of restrictions. You need to have the bylaws and CC&Rs available for the potential buyer. Make copies so they can take them when leaving. This is critical as the restrictions on property use can kill a deal at the last moment.
If you’ve been to more than one condominium development, you’ve spend time getting lost. This is a good way to turn off potential buyers. Avoid it by giving clear directions and a map to people coming by for open houses and so on.
Here is a neat little tip that costs you nothing, but can make a sale happen. For some reason, codominiums are famous for being poorly lit. You are probably use to it, but buyers are not. Crank up all the lights. The light will make it look bigger to.
Unlike individual homes, condo developments often have universal problems such as a leak roof or something. This leads to litigation that forces the developer to come back and fix the problem. If you’ve experienced this, let buyers know.
Next, you should always go beyond your unit when meeting with buyers. Condos come with community pools, hot tubs, tennis courts and so on. Drag perspective buyers to each of those areas so they can see the added benefits of buying your condo.
In this market, helping your buyer finance the purchase can make all the difference in the world. Buyers with even great credit are having problem getting money. Offer to carry back part of the purchase price as a second loan. It might just do the trick.
Generally speaking, selling a condominium can be more difficult than selling a home. On the other hand, getting into a condo requires a lot less financing on the part of buyers. Follow the above tips and you should do fine selling your property.














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