While selling homes involves a similar process, there are some distinct differences between selling a condominium and selling a house in Edmonton. Reading this list will help you know what to expect and how to get the most out of the experience.
With a home, you can control where you put your for sale sign, but with a condo, you will either only be able to put a sign in a certain place on the property or won't be allowed to place one at all. Furthermore, you need to plan for the fact that you probably won't bring buyers in based on curb appeal because with a condo, curb appeal is out of your control.
Timing is Everything
Try to put your condo on the market when it is the only one available in the building. Even better, the only one available on the street. This way, it will stand out and you won't have to significantly drop the price in order to make it do so.
Amenities Are More Important In a Condo Sale
When buyers are looking at condos for sale, one of the biggest draws to considering this type of home beyond minimal maintenance is that there are often multiple amenities provided and cared for by the homeowner's association. Costly amenities such as swimming pools, fitness rooms, clubhouses, and tennis courts are highly appealing to buyers who don't want to deal with the initial investment of these as they would with a single-family dwelling.
Furthermore, condo owners enjoy the lack of responsibility they have with such amenities in a condominium community, as the HOA covers maintenance, repairs and is responsible for any negligent actions or accidents amid those spaces. So amenities are certainly very important—and often advantageous–factors in a condo sale that sellers should be sure their agent markets and monopolizes on.
Carefully Consider the Asking Price
Condos that have recently sold in your building or in buildings close by pretty much create a benchmark price that you will have to take into consideration if you want your condo to sell. This does leave you with a limited asking price window, but if you ignore this data and price the condo too high, you will just have it sit on the market longer and may have to reduce even further than the benchmark price in order to sell it.
These are just a few of the main differences that will really impact the way that you list your condo for sale. Whlle they may sound negative, there are ways around these "problems" so that you can get top dollar for your property.