Nikki Carter's Blog
Purchasing a condo should be fast and easy. However, negotiations with a condo seller can quickly become stressful and may put your chances to acquire your dream condo in danger.
Lucky for you, we're here to help you simplify the process of negotiating with a condo seller to ensure you can purchase your ideal property.
Here are three tips to help you navigate tough negotiations with a condo seller.
1. Consider the Condo Seller's Perspective
Think about the condo seller's perspective and try to find common ground with this individual. By doing so, you and the condo seller may be able to agree to terms that meet the needs of both sides.
When you initially submit an offer on a condo, ensure your proposal accounts for the condo's condition and the current state of the real estate market. That way, you'll be able to avoid the risk of submitting a "lowball" offer that falls below a condo seller's expectations.
Also, maintain open lines of communication throughout the negotiation process. This will allow you to listen to a condo seller's concerns and respond accordingly.
2. Collect Plenty of Housing Market Data
If a condo seller believes you are unwilling to pay a sufficient price for his or her condo, it is always a good idea to present housing market data to back up your offer.
Explore the housing market closely to learn about the prices of comparable condos in nearby cities and towns. This will allow you to see how a particular condo stacks up against similar properties in terms of price and condition.
In addition, check out the prices of recently sold condos in your area to identify housing market patterns and trends. With this real estate market information at your disposal, you'll be able to make an informed decision about whether to continue to negotiate with a condo seller or consider other properties.
3. Collaborate with a Real Estate Agent
A real estate agent will negotiate with a condo seller on your behalf. Therefore, he or she will help you minimize the stress and anxiety that is commonly associated with condo negotiations.
Typically, a real estate agent will submit an offer on a condo and wait to hear back from a condo seller. If a condo seller decides to negotiate, a real estate agent will work with you throughout the negotiation process.
A real estate agent will listen to your condo buying concerns and questions and respond immediately. He or she also will provide honest, unbiased recommendations to help you make informed decisions during negotiations with a condo seller. This real estate professional will even share your concerns with a condo seller to help you get the best results possible.
When it comes to a negotiating with a condo seller, there is no need to worry. If you collaborate with a real estate agent, you can take the guesswork out of condo negotiations. And ultimately, you may be able to move one step closer to buying a condo that meets or exceeds your expectations.
22 Priscilla Road , Orleans, MA 02653
22 Priscilla Road , Orleans, MA 02653
When you own a condominium, even if you’re entrance is street level, you're not really in charge of the common area or the building's exterior. All the entries look alike, and some even enter from hallways. So, how do you differentiate your home from the four or five others that are for sale in your complex?
Try these simple steps to give your place the edge:
- Mind the door. While you may not be able to paint your condominium door a bright, trendy color, you can take a few moments to make sure it is clean and free from scuffs and finger marks. Use a whisk broom to brush off all dust, debris, and detritus that collects in the grooves and trim. If the door is wood, use a mild solution of a wood-safe soap to wash down the door, inside and out. Then, shine the door up with furniture polish so that it glows. If the door is metal or painted, use a gentle mixture of dish soap and water to remove grease and grime.
- Make it shine. Clean any glass in the door or sidelights with a vinegar and water solution or an appropriate glass cleaner. Use a metal cleaner on the door handle, deadbolts, and any metal trim, including the trim around the peephole, and shine up the fisheye lens too.
- Don’t forget the threshold. With a clean door, you’re already ahead of the game, but take a moment to sweep off the threshold (the wood or metal strip below the door), and all around the edges of the stoop or entry. Even when your doorway is in an interior hallway, the regular building cleaners may not get that extra dust and leftover dirt in the corners. Use your vacuum cleaner to suck away the last crumbs.
- Be welcoming. Set a fresh new welcome mat in front of your door and add a flower pot of bright blooms if you’re allowed. For interior doors, a tasteful wreath or swag on the door highlights your entry. Be careful to avoid going “over-the-top” though. Simple and elegant is best.
- Clear the entry. Your real control of the "appeal" starts once the door opens. Keep the entryway as open and uncluttered as possible. Move furniture away from the entry area to give it a more expansive feel. Keep décor simple, warm, and inviting. Avoid anything the potential buyer might bump into upon entering as that tends to leave the impression of small and crowded.
- Lighten things up. Put the best possible light on the subject. Take time to upgrade the bulbs in your entry lights (inside and out) to “daylight” LEDs for a friendly, well-lit glow.
A warm, inviting entrance sets the tone for the rest of the home, so give yours the edge it deserves.
If you plan to pursue a condo, it generally is a good idea to know exactly what to expect. That way, you can map out a successful condo buying journey, one that ensures you can avoid potential pitfalls along the way.
Ultimately, there are many factors to consider as you get ready to embark on the condo buying journey, and these include:
1. Where You Want to Live
The condos in a big city often are very different from those available in a small town. Thus, you should make a list of your condo must-haves prior to starting a condo search to boost the likelihood of a seamless condo buying experience.
Furthermore, think about where you want to live before you kick off your condo search – you'll be happy that you did. Because if you can narrow your condo search to properties in a group of cities or towns, you may be able to speed up your condo search.
2. Your Budget
If you intend to buy a condo, you'll likely need a mortgage. Thankfully, many banks and credit unions are available, and these lenders can teach you everything that you need to know to put together a successful budget.
Banks and credit unions employ friendly, knowledgeable mortgage specialists. If you connect with these mortgage specialists, you can learn about a variety of mortgage options and make an informed mortgage selection.
Also, don't forget to plan ahead for potential condo dues. Most condos provide lawn care, snow removal and other amenities that are covered under monthly or annual condo fees. Although these fees may not be included in your mortgage, you'll need to put aside funds each month to cover them. Therefore, you'll want to account for potential condo fees as you craft your condo buying budget.
3. Condo Living
Living in a condo and residing in a house are not the same thing. As such, you should try to prepare for condo living as much as possible to ensure that the condo lifestyle is right for you.
For example, condo owners typically won't have to worry about performing lawn care thanks to their condo fees. At the same time, condo owners will need to comply with various regulations established by a community's homeowner's association (HOA). In fact, failure to comply with HOA rules could result in fines or other penalties.
If you want to get a better understanding about what it's like to live in a particular condo community, it may be beneficial to consult with a real estate agent with condo buying expertise. This housing market expert can offer insights into different condo communities in your city or town. Then, if you want to pursue a condo in a specific community, a real estate agent can help you purchase your ideal condo.
Ready to take the guesswork out of buying a condo? Consider the aforementioned factors, and you can streamline the process of going from condo buyer to condo owner.