The procedure in selling a condo in Victoria, BC is similar to that of selling a house; however some significant differences do exist that a condo owner should be aware of. The bottom line is you want your condo to appeal to as many buyers as possible and as a result, get the best price possible. Following these important tips for selling a condo will ensure that your condo will be the most attractive in Victoria's condo market.
The first step is to find out if any work is being done to your building, such as painting or replacing carpets. Ideally, you'll want to put your condo on the market after the work is done because the more attractive the building looks, the more desirable your suite will be. The more positive selling features you can include about the building (ie. new fixtures throughout the common areas) will also reassure the buyer that the building is well maintained and kept up-to-date.
Another tip which may seem like a no-brainer is to de-clutter! One easy way to do this is to get rid of excess furniture that perhaps is too bulky for a condo space. Even if you have to rent a storage locker it's definitely worth the monthly payment, and with the clutter gone you probably won't need more than a month to sell. Another trick many people overlook is storing away your winter or summer clothes, making closets look larger. If its one thing condo buyers are looking for is open design with ample storage!
There will be documents involved when selling your condo, including a property disclosure statement which will ask you questions about your suite and the building. It is beneficial to familiarize yourself to the best of your knowledge with
the status of the building, including all the strata minutes from the monthly meetings within the last couple years as well as the bylaws. Your agent will obtain a copy of these documents as well but staying on top of this paperwork will save time and make the selling process quicker and more efficient.
If your condo is tenant occupied, it is important that you comply with the rights of the tenants as you sell the suite. Your Realtor will be on top of this, but it's still good to know procedures such as carrying over a lease to new owners, damage deposits and showing the suite to potential buyers. Hopefully you have developed a good relationship with your tenant so they will be accommodating, and more important, conscious of keeping the place clean!
The final tip I can recommend when selling your condo is to remember the brighter-the better! Buyers are drawn to ads that begin with "bright, spacious". This can be achieved even if you don't have picture windows or southern exposure. Things like placing a lamp in the corner of room to spread the light, and always leave curtains and shades open. Adding mirrors to walls opposite windows to reflect light goes a long way to give the appearance of a larger space.
