Archive | July 2017

Planning to Sell a Condo? Here are Three Things You Need to Know

sell-your-condo

“Real estate investment is certainly a vote of confidence on a future activity” -Fiona Sigalla

 

The Philippines has seen a recent boom in the real estate market over the past decade—particularly in the condominium industry. It is no question that one can readily see condominium developments and properties being erected in almost every nook and cranny in most major cities. In fact, business districts such as Ortigas, Taguig, and Makati are premier spots for condominium developments seeing as this is where demand remains the highest. Seeing as condominiums are rife and are growing rapidly in the city, it is almost perfunctory that having a condominium unit to sell makes for a marketable and profitable venture. However, the logistics in the sale condo unit is not like selling a home. There are certain rules you have to consider before you can do so such as consulting the condo management and board for salient information potential buyers might want to see. Furthermore, there are things such as rules for pets, acceptable noise levels and alterations to the unit’s space and appearance may play a crucial role in affecting a potential buyer’s decisions.

So, if you have a BGC condo for sale or any other condominium property to sell elsewhere, here are some things you should consider:

 

1.) Best time to sell your condo

Before you can appropriately select a prime time for selling your condo, it is essential that you have a thorough understanding of how the property cycles move. Knowing so would help you have an idea or at least a rough estimate of how far along the property clock would yield a better profit. Although property cycles are largely erratic, there would be a series of events in which you would see prices rice, fall and eventually stabilize. Apparently, the best time to sell your condo would be during the boom phase or when the prices rise—a market peak that usually lasts up to six months.

2.) Open House strategy

While selling your condo is unlike selling your home, you would still have to stage it well to attract prospective buyers. Take note, a condo that shows well will sell much faster and would yield a better profit. Invest on small cosmetic touch-ups as even these can already make a significant difference. Additionally, if anything should be repaired then get on that immediately. Remember, an open house is an excellent strategy to make an impression—make sure you make a good one and make sure it lasts.

3.) Accentuate Premier features

Not all condominium units are the same; there are some features a unit possesses which others lack and makes it for a salable unit. These are the features you need to emphasize and accentuate to your prospective buyers. More often than not, one of the premier features that make a condo unit so salable is the ease of access that comes with it to everyday life—such is the case of having it in proximity to offices, entertainment hubs, and most offices. Similarly, unique attributes such as the amenities offered—may that be a hot tub by the pool, a fitness center, concierge services and the like should also be considered. Remember, if a prospective buyer is looking to buy a condo, he or she is probably looking for a living experience that is hassle-free and one that they cannot find in a residential house. So, exploit your unit’s best features. In a sense, explain to them what makes it worth it to be living there.

 

While selling a condo might present an avenue for a profitable real estate venture, it would be best if you considered the things above first to be successful in your endeavor. Apart from that, it is imperative to remember that if you want to sell your condo, you must be patient enough to worth through a lot of negotiations before you can successfully close a deal. This means you would spend a lot of time waiting around. However, you will soon find that your patience will reward you once you finally close an excellent deal.

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