3 Truths Every Condo Seller Must KnowWritten by Eric Skicki Friday, November 14th, 2014
Your Condo Is Not THAT Special
Most sellers insist that their condo is special and deserves a higher list price than other comparable properties. Sometimes this justification of a higher price is made because of upgrades, other times it’s because the seller is misinformed or just unrealistic.
We have to keep in mind that some upgrades are not to everyone’s taste; such as floor colours or cabinet colours. Remember that 90% of condos sell within 2% of asking price and therefore, it is important to price your condo right the first time you put it on the market. Overpriced listings quickly become stale listings and buyers lose interest quickly.
Pro tip: Typically speaking, when selling a unit, an owner can expect to recover only 40%-60% of the value of any given upgrade.
Sellable vs. Livable
Many properties that are on the market are either owner-occupied or vacant, and it is hard to keep it in a very clean condition. However, some things are a bare minimum requirement when choosing to place your condo for sale.
– Depersonalize your property by putting away personal items in boxes or drawers, since the
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