Preparing Your Condo to Sell

10 Jul

Preparing your Condo to Sell

When you’re selling a condominium unit, the process is completely different from selling a house. It actually has a more complicated series of steps. As with houses, there are no two condo complexes that are the same. Litigation for condominiums are also much greater, which is why hiring a realtor is a practical thing to do before listing your condo for sale. Before hiring a realtor, make sure that you’ve considered these aspects:

  1. Choose a real estate agent that has experience selling condos specifically and not just residential real estate. Be wary of real estate agents who do not understand the line between free hold common element ownership and condominium ownership. Also, watch out for those real estate agents who list condominiums that are under costly litigation with the builder. A real estate agent with good experience will not give you any of these hassles.
  2. Check if there are any special appraisals that are pending regarding condo fees. Have your condo board of directors impose a special appraisal on your unit and disclose this to all of your potential buyers. If the board of directors will also increase your condo fee, it is vital that the potential buyers are informed beforehand.
  3. Become aware of any prohibitions on the condo occupancy. The prohibitions may include pets, rent for students, businesses and others. If you have discovered all of the prohibitions and restrictions, tell your buyers about them with the help of your real estate agent.
  4. Make sure that you know what type of condominium you are selling. Condo townhouse complexes greatly differ in some regions. There are condo corporations that accept the responsibility of maintaining the roof, exterior doors and windows. Others only conduct maintenance on certain parts such as roof, leaving the rest to the homeowner. Most commonly, patio doors are under the responsibility of the condo corporation itself. Be sure that you and your buyer know what is being purchased so as to avoid unnecessary complication.

Jennifer Fields
Oklahoma City & Edmond Real Estate Agent
405.330.0031

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