Condominiums for sale in Alexandria Virginia
Condominium Sale - Make It Happen
It is a tough market out there if you are a seller. Distressed properties. Empty developments. Foreclosures. There is a lot of inventory on the market for buyers to pick over, but you can still move your condo if you follow these steps.
Letting people know you are selling is obviously important. This means signs. In a condo development, this can actually be a problem. Most associations don't allow you to post signs in the common areas or your outer walls.
So, what can you do? One option that usually works is to put the for sale sign in a window where it can be seen. Few people complain about these, so it might just do the trick for you. Even if the complain, it will take some time to send you a warning.
Speaking of homeowner associations, condos are heavily regulated by them and the covenants and restrictions for the development. When prospective buyers come, you need to provide them with copies of everything.
More and more, we are seeing condominium developments grow to a size rivalling a small town. Just because you know how to get to the unit does not mean buyers do. Provide them with a map with clear printed directions.
Here is a neat little tip that costs you nothing, but can make a sale happen. For some reason, condominiums 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.
Hal James writes about issues faced by FSBO sellers for FSBOAmerica.org, where you can get a free one month listing to sell your home by owner and get more real estate tips.