Selling your condo in Massachusetts is different than selling a single-family home. When selling a condo, you are essentially selling a percentage share of the condominium complex, and not just the unit.
A prospective buyer will need to know what to expect regarding how healthy the condominium association is financially. Having certain documents ready to provide a potential buyer with all that they need will need to make an informed decision can help speed up selling your condo.
Read further to find out what you need to know when selling your condo in Massachusetts.
Marketing
Condos can be harder to sell if there are high association fees or if a complex is not FHA approved. Marketing your condo the proper way is necessary in order to get the most amount of eyeballs on your unit.
Get Active on Social Media
Advertising on social media enables you to target specific locations instead of traditional methods like newspapers. Facebook, Twitter, YouTube, and blogs can help connect you to potential buyers.
Instead of only using professional photographs, consider including virtual tours of your condo and post them to YouTube and Facebook. These videos will create a sense of engagement, and buyers will get a sense of what they can expect living in your condo.
Highlight if your condominium comes with a pool, fitness center, or any amenities that will be appealing.
Post Free Listings
Make use of free listings, including Craigslist and Zillow, and include as much detail about your condo as possible. Details to include are:
- How many pets you’re permitted to have
- Association Rules and Regulations
- What appliances the condo includes
- How far the condo is from schools and other areas of interest
- Monthly condo fee (and what the fee includes)
- Upcoming special assessments (if any)
- Utilities
- # of owner occupied units vs. non occupied units
- Professional on-site property management company access
Host an Open House
A prospective buyer will want to visualize themselves and their personal belongings in your condo before making a purchase. To market your condo to its full potential, stage your condo with furniture, and keep it clean.
Continue with the open houses as regularly as possible, as open houses attract buyers into your doors. Consider virtual tours and video walk throughs to minimize foot traffic and keep the showings to a minimum.
How Do I Sell My Condo Without a Realtor?
If you choose to forego using a realtor to sell your condo in Massachusetts, you will want to make sure you have everything to ensure the sales process runs as smoothly and quickly as possible.
Get Your Condo Ready
When selling your condo without a realtor, you want to ensure your condo gets prepared for potential buyers. Fix all significant issues that need repairing, and don’t look past the small things too.
Issues you can fix include:
- Carpet damage
- Odors
- Pet damage
The more you can take care of yourself, the less a buyer will need to care for when they move in.
Price Your Condo Right
One of the main reasons a condo, or any home for that matter, doesn’t sell fast is high prices. Overpricing a condo can result from a seller placing a personal attachment on their home when they should instead be realistic with their pricing.
Use platforms such as Zillow or Zestimate’s pricing tools to view similar condos in your neighborhood that recently sold to get a rough idea of prices in your area. Alternatively, hire an appraiser to come and look at your condo, who will give you an accurate value of your condo.
Timing is Everything
Listing your condo at the right time can make your condo sell faster. List your condo on the market by early Spring, as the market gets flooded around the end of Spring and early Summer months. By listing your condo earlier in Spring, you can also expect to sell your condo for a higher price.
Listing your condo in the colder months can also influence your condo’s sale, as the weather becomes unfavorable, and most buyers are spending the holidays with their families.
Market Your Condo
Market your condo on social media. Get your friends and family engaged, and have them share your online listings with their contacts. Word of mouth may well be old school, but sometimes it can help!
Do Condos Have Good Resale Value?
Condos usually appreciate in value, especially if you have one in the right location. Lower maintenance costs also play a massive role in the resale value, as buyers want a hassle-free living experience. Other factors that can contribute to the appreciation or depreciation value of a condo include the following:
- Stunning views – a vital resale feature is if you have beautiful views from different rooms in your condo.
- No balconies will make the resale of your condo more difficult.
- Condos with no space for parking will lower your resale value.
- If your condo has high ceilings and an open concept layout, your condo becomes more appealing and easier to resell.
When you first buy a condo, make sure you look at all these factors so that you can avoid problems reselling it in the future.
Get Help from a Local Real Estate Expert Near You
Getting help from a real estate professional will make the sale of your condo a smooth process. Real estate agents are specialists in their respective areas and know what documents need to be ready when selling condos. They have the necessary knowledge to understand homeowner associations and understand the rules when listing your condo for sale.
We buy condos in Massachusetts for cash if you can’t get your condo sold or if you need to sell quickly, no matter what condition your condo is in. We’ll provide you with the best cash offer possible!
For a consultation or to get a free, no-obligation cash offer, contact us at 781-309-7085.