By Condo Culture
It's currently a seller's market in the Waterloo Region with high demand and an inadequate supply of residential properties. Condos have been selling in fewer days on market, on average over asking and often with multiple offers making it a great time to consider selling.
In this week's blog we've outlined our top 5 things you should do before you sell your condo.
1. Speak to your Realtor - Your Realtor will be able to provide you with a condo evaluation to help determine what your condo is worth, give you insight on the best time to list, propose a marketing strategy and make other suggestions that can help to successfully sell your unit. At Condo Culture, condo evaluations are free! Click here to learn more about our listing services or here to book your free evaluation.
2. Consider your tenants - If your property is currently a rental with a long term tenant, legally you will only be able to sell your unit at the end of the lease agreement (unless otherwise negotiated with the tenant) or if the new buyer agrees to assume the tenant. In Ontario, tenants can only be evicted if the new buyer or a close family member intends to move in and tenants must be provided 60 days written notice to vacate due to sale.
If you decide to list your condo while it is still tenanted, you may also have limited control on how the unit is cleaned and presented and will need to provide 24 hrs notice to your tenants prior to any showings.
3. Remodel/ Repair - Move in ready condos (those condos that require little to no renovations) like this newly renovated unit at the Kaufman Lofts, are highly attractive to potential buyers. Before getting ready to sell, look for ways to increase the selling value of your property and decrease your list time by making needed repairs and upgrades. Your Realtor will be able to provide helpful suggestions ( i.e. fresh coat of paint, upgrading appliances or adding new flooring) that can make a big difference in the overall presentation of your unit.
4. Get all your documents together - There are a number of documents that can make it easier for your Realtor to list your condo and that may be useful to the new owners. These include floorplans, utility bills, warranties, recent upgrades and any rental agreements. To save time and to ensure a smooth selling process, create an easily accessible file with all your relevant condo documents.
5. Declutter/Clean/ Stage - When preparing your unit to sell you want to ensure that it stands out from the competition. Take time to thoroughly clean your unit, put away personal items and remove excess clutter that can make the space feel small. If you need assistance in converting your unit into a welcoming space consider hiring a cleaning and/or staging company.
At Condo Culture we are committed to working with our clients to create a tailored approach and to ensure the selling process is as seamless as possible. Click here to connect with a CC REALTOR and Condo Expert.
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