For years, you’ve been told to “sell it or get it” by real estate agents.
So, how to go about selling your condo?
Here are some tips for getting the condo sold for a lower price, but still get it. 1.
Get the Condo Under Contract (Before the Sale)The condo is sold before you even open the door to negotiate a sale.
You can get the condo under contract at the same time that you negotiate the sale.
This is the easiest way to get a deal.
The more time you spend negotiating, the less you need to sell the condo before the sale can be finalized.
Ask the Seller for Additional InformationYou can negotiate with the seller about any additional information the seller may have about the condo, such as its previous occupants.
You also have a lot more leverage when negotiating the sale with the condo’s current occupants.
Make an Offer on a Time-Adjusted PaymentIf you want to sell on a fixed time, you have to make an offer on the same payment that the seller makes on the current lease.
The buyer will then have to pay a lower amount to the seller for the same amount of time.
It’s important to know that if you make an extended offer, the seller will likely accept your extended offer.
Use the Right Form for the Condos ConditionYou can use the same form for the condos condition, such a “time-adjusted” payment.
You don’t need to make the exact same payment on the condos current lease, but you should make a time-adjusted payment of $5,000 per month on the last payment.
Ask for More Money for a Condo If you’re not sure if you want a condo in the first place, you can ask for additional money to help offset the difference in price that you’ll have to give up in the condo.
This might be a loan you’ve already made, a mortgage you have on the condo or a rental payment you’ve made in a similar area.
Try to Get a Deal on the Condominium If you don’t know if the seller is interested in buying the condo outright, ask them to consider it.
A good way to do this is to ask for a mortgage on the home.
You might even ask for the seller to pay you back in full if they’re willing to take a smaller mortgage payment.
Ask About the Price of the Condom If you’ve decided to sell and the seller wants to buy it, you should ask the seller what the condo is worth.
If they have a reasonable estimate of the condo price, you might be able to negotiate for a better price.
Offer a Low Interest Rate and Receive a RefinanceIf you’ve done your homework, you’ll know that you can negotiate a lower interest rate and a refinancing.
This could be a mortgage loan or a home equity loan.
Negotiate a Sale and Re-Offer to Sell to BuyersIf you can’t sell the condominium at the current market rate, you could try to renegotiate the sale to a buyer.
This may be easier if you’re selling on the market, which is often easier.
You have the right to renegotiat the sale at any time.
Keep an Open Mind on Selling a Condominium if the Conde Is Not Currently SoldThe buyer will probably want to buy the condo if they think it’s in good condition.
This doesn’t mean you have a right to sell it, but a buyer who buys a condo from you and your family will likely want to see it in good repair and can’t wait to move in. 11.
Take a Second Look at the Condes Condition If the condo hasn’t been sold in a few months, you may want to look into whether it’s worth selling at all.
In this case, you’d probably want it to be in a condition that’s similar to what it was before the current owner purchased it. 12.
Ask Seller for a Guarantee If the buyer has a guarantee on the deal, you’re in luck because the seller can guarantee that the condo will be in good shape for the buyer.
If the seller says the condo has never been damaged or has never had water damage, you don to negotiate with them.
Ask Buyers for Insurance Coverage if the Buyer Has InsuranceThe seller may be able get insurance on the purchase if the buyer isn’t insured.
If so, you need a separate insurance policy on the property to get it covered.
Be Alert on the Terms of the SaleIf you’re interested in a condo, be sure to know how much the buyer will pay you.
You may want the buyer to pay the buyer a fee to help cover your costs if you need it. 15.
Negotiation with the Seller if the Seller Doesn’t Pay youThe seller can’t negotiate for you if the sale isn’t finalized, but they might still agree to pay some or