Tips for Selling Your Kitchener Waterloo Loft or Condo

By Warren McNeil

Thinking about selling your loft or condo and  taking some of the equity to buy something else? Maybe you’re downsizing. Whatever the case, this posting might help you alongKaufman Lofts in Kitchener this journey. Selling your home is a big lifestyle change and can be very disruptive.

1. The first thing you need to do is decide if now is the right time to sell. To determine that, you can talk to your local realtor and find out about the recent sales activity in your complex. This should give you an idea of what is selling and what is just sitting and not selling. Timing  sometimes plays an important part in getting the most money.

2. Have your realtor give you an accurate market analysis of your condo or loft. This analysis will include the most recent sales, expired listings and currently active for sale listings. You can then use this information to come up with a suitable list price. Pricing is not an exact science so the goal is to use the most recent comparables and then be satisfied on the suggested list price. Overpricing your condo or loft will just make prospective buyers look elsewhere. Buyers won’t put an offer even if you left a bit of room to negotiate. They will just wait for you to reduce the price. You need to decide if you want sell your condo or just put it on the market.

3. After you have the price figured out, you need to prepare you condo or loft so it is ready for sale. Consider staging, cleaning, renting furniture, decluttering and performing small repairs. Imagine yourself as the buyer andlook through their eyes. If you don’t want to do the work yourself or just don’t have time, hire a stager or a professional organizer. When meeting with these professionals, be sure to keep an open mind. If you are really ambitious, consider replacing the carpets and painting. Keep in mind that you might not get a one-to-one ROI. Every dollar counts so watch your budget.

4. Once your condo or loft is listed and open to prospective buyers, try and remain flexible with the showing schedule. The more people who see the unit, the higher your chances are of getting an offer quickly and for top dollar. Make sure that you provide the realtor with all the information such as parking spot(s), location of lockers, fitness facilities, common areas and any other details unique to your condo. Making the unit easy to show is important. If you have a controlled entry, make sure that you have the keys or electronic fobs handy for the realtor.

5. When an offer is received keep an open mind. Everybody wants a deal so expect that you might get low offers. You are always in control so you don’t have to take them. The key is not to lose faith. The right offer will come along by someone who really wants the unit. You do have to be realistic. Please re-read step 2. If you get 5 offers all at a lower price then that is the market telling you that your pricing mght need readjustment.

6. Some final things you need to keep in mind are: Be prepared for the closing costs. For a seller this process is pretty simple so just be sure to budget some money for closing costs. Another thing you need to do is maintain house insurance all the way through until closing. You also owe it to the future buyer to keep the house in good condition and repair any damage sto chattel or fixtures should they break or malfunction.

 

Some other quick tips or tools for selling are:

  • open houses
  • flyers since for sale signs are not always allowed
  • word of mouth (Facebook, Twitter or any other social site)
  • obviously advertising in papers and real estate publishings
  • mls.ca

The above information is just a quick overview of the process and some tips for selling lofts or condos in the Kitchener Waterloo or Cambridge areas.

If you have any questions or would like more information about selling your Kitchener,Waterloo or Cambridge area condo or loft, please don’t hesitate to contact us. For a free condo evaluation, checkout our Kitchener Waterloo free condo evaluation services

Thanks for reading!

Warren & Melanie McNeil | Sales Representatives, Team McNeil
Re/Max Twin City Realty, Brokerage
( 519.579.4110 
8 www.TeamMcneil.com, www.LoftStyle.ca, www.ClickThatHouse.com 
 

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