Once you’ve made the decision to sell a condo you want to move fast. Selling your condo doesn’t have to be a complicated process, but it does require some forethought before you move forward so you know which path to the sale is the right one for you.
In this guide, we’ll take you through your options and the steps you need to take to take.
Decide How to Sell Your Condominium
1. Sell with a Realtor
Selling with the help of a realtor is the most traditional way to sell, and is a good option if your home is in move-in-ready condition. You’ll work with your realtor to present your home in a way that appeals to the widest range of people and then your home will be listed online. You’ll need to leave your home for showings and then you can work with your realtor to negotiate with a potential buyer when you get an offer.
Working with a realtor will cost you around 4-6% of the sale price of the property, but you won’t have to pay them a thing if your home doesn’t sell. Typically, selling with a realtor takes 3-5 months from start to finish.
If you want to sell your condo fast, this is only a good option if your condo is in a highly saleable condition. That means that it needs little-to-no work and is decorated in a modern and ideally neutral style, with a modern kitchen and bathrooms. Here are the steps:
- Find a realtor with fees you’re happy with
- Work with them to stage the condo and get professional photos taken
- Settle on an asking price
- Vacate your home for showings
- Work with your realtor to negotiate and accept an offer
- Wait for appraisals and inspections
- Do the necessary paperwork
2. Sell “By Owner”
Selling by owner is the slowest and most complicated option since it’s all down to you. You’ll need to prepare the home for sale, find ways to list and advertise it, show it to potential buyers, negotiate with buyers, and so on.
“FBO” selling also comes with the stigma that people generally assume there’s something so wrong with your home that you can’t sell it traditionally, or you want more money for it than the market dictates.
The only time it’s recommended to sell it yourself is if you know (or strongly suspect) that someone local will want to buy the property or when someone has inquired as to whether you’d be willing to sell it. Otherwise, it can take a year or more to find a buyer.
Here are the steps:
- Decide on an asking price
- Put out a for-sale sign
- Talk to neighbors
- Show the property to anyone interested
- Appraisals and inspections if the buyer needs them
3. Sell at Auction
If your home will not appeal to the general market or if you need to move quickly and don’t want to have to go through the time it takes to do the two above options, these next two options are going to be the best two options for you.
Selling via auction involves working with an auction house, which will charge you a fee and/or a percentage of the sale. They’ll take care of any images, advertising, and so on. There usually aren’t any viewings, or if there are, it’s on one open day. Your house will be up for auction and then potential buyers can compete with one another via bidding. It usually takes 3 months from when you decide to work with the auction house to when you receive your funds.
Here are the general steps:
- Contact an auction house
- Agree on a guide price/reserve price
- Wait for the marketing materials to go out and then it will be about 30 days until the auction
- Get bids at the auction
- The highest bid over the reserve/guide price wins
- They have to pay there and then or pay a deposit and pay the remaining in the following week
- Wait for about 60 days for everything to be wrapped up (and do any required paperwork) and then you’ll receive your funds from the auction house
4. Sell to a Cash Home Buying Company
If you have little time to spare or you want to move as quickly as possible, selling to a cash home-buying company like us is by far the fastest option. When you sell to a cash home buying company, you sell your condo in as-is condition (whether good or bad!) and don’t have to take pictures or vacate for viewings.
All you have to do is contact us about your condo and we’ll give you a no-obligation cash offer. If you choose to accept, we can close in just a few weeks!
Here are the steps:
- Contact us through our contact form, via email, or a phone call with some details of your condo (can be just the address!)
- We’ll send you a no-obligation best cash offer (meaning there’s no need to negotiate and you’re free to take it or leave it)
- If it sounds good to you, we’ll contact you to find out some additional details and ensure the deal is structured well for you (i.e., isn’t so fast you have nowhere else to go before the sale completes, and so on)
- We finalize the sale, you get your funds, and you’re free to move on with your life!
If you’d like to learn more about how we calculate our offers, what we do with your property, and our other benefits such as our no-clearout policy, click here.
Selling a condo in New Hampshire fast means you may have to avoid selling via a realtor and look to alternative options. The good news is that you don’t have to worry about whether you can sell in just a short time if you sell to a cash home-buying company. To get your no-obligation cash offer for your condo, click here.