Sometimes, when we find better opportunities or a better location somewhere, we choose to let go of our old condominium unit and resell it so we can buy a unit at the new location.
In this day and age, wherein people prefer living in condominiums than in a house and lot, it is understandable that the demand for condo units will remain high.
If you have a condo unit that you plan to resell, take note of the following:
- Inform the Condominium Management – You need to inform the management that you are moving out of your apartment unit. You wouldn’t want the new occupants to go through the hassle of not being recognized by the management, do you?
- Don’t Go Cheap on the Prices – You may want to move out of your unit and into the new one as soon as possible, but that doesn’t mean you should settle for a cheap price when you sell. It is often a good idea to start at the price for which you bought the unit; you may then agree to lower the price a bit if a potential buyer seems genuinely interested but can’t afford the asking price.
- Keep Legal Documents – It is always advisable to keep receipts and other important documents. These documents may be needed when you find a potential buyer. Among other things, these documents will prove your legitimacy as a seller.
- Renovate and Repair – Nobody wants to buy a damaged condo unit; if anyone does, they’d most probably negotiate for a very low price. Repair any damage to your unit before putting it up for sale. Selling the unit as is reduces the chance of getting it sold.
- Advertise– If you really want to sell your unit quickly, let people know about it. You may do so by print, word of mouth, or through social media.