So when you’re showing a condo at King & Bathurst, and the showing instructions tell you to pick up the key on Queen’s Quay, there’s a good chance that you, your buyer client, or both of you might say, “let’s just skip that one.”. Can’t sell your home? Related Stories. But at some point the price could fall far enough that people will say, ‘It’s down very sharply, maybe it’s time to jump into the market,’” he said. Include something that will attract them to buy your Condo.Upgraded appliances, just by spending a little for the upgraded appliance you could sell the Condo.But before buying the appliances, let the buyers know that an appliance package is included in the selling price and they can choose what they want so give them a appliance credit off the selling price. “Their tenants are leaving and they don’t want to take on new ones, especially with rental rates dropping. So investors have created a sort of quantum superposition of both buying too many condos while also…, oh okay....lollol...i was wondering...lol, Taking a page out of Kyle’s playbook, are you? Most importantly, if there are a lot of vacancies in the complex those units are going to sell first over yours in most cases and are very bad for resale value. Even an investor looking for a rental unit wants it vacant so he/she can hand-pick a tenant, likely at a higher rent than what is existing. And not only that, as reader “Tara” pointed out below, if he sells it later AFTER renting it out, it becomes a rental property, which makes the capital appreciation TAXABLE. Your email address will not be published. It takes a lot of work to sell quickly, and for the best possible price. That’s not always the case. I would always tell the client to get rid of the tenant, eat up to two month’s rent by carrying it vacant, but gain back that money five-fold by controlling the showing process. “For almost everybody, if you want to buy a single-family home you’ve got to sell something,” he said. 3) Don’t Label The Lockbox, Or Label It Wrong. Hot Tips For Selling Your Condominium With the real estate market steadily improving, many condo owners are looking to sell. thestar.com - Tess Kalinowski. “The era of the tiny condo” may be over with the pandemic, but low interest rates might allow some consumers to buy bigger units, said Wiebe. A buyer in the market for a 2-bedroom isn’t going to walk into a 1-bedroom with a nook large enough to fit a desk, that the listing agent has called a “second bedroom,” and simply figure, “Well, this isn’t at all what we’re looking for, but, well, you know, we’re here, so we may as well buy it!”. “If it’s a treadmill, you need those new people jumping on one end of the treadmill so people can jump off the other end of the treadmill,” he said. Hi. Here are the best tips from industry professionals to help you keep your sanity and get the best price possible: Be Conscious of the Homeowner’s Association . I would always tell the client to get rid of the tenant, eat up to two month’s rent by carrying it vacant, but gain back that money five-fold by controlling the showing process. How many buyers, looking to move into the unit themselves, are going to consider buying a condo that’s tenanted until summer, 2014, and becoming a landlord when they never planned on it? “For almost everybody, if you want to buy a single-family home you’ve got to sell something,” he said. Anyone can read Conversations, but to contribute, you should be registered Torstar account holder. He said he has joked that, “When condo rents are getting down to $1,500 a month, which I’ve seen in Toronto, you can afford to rent two and save money compared to owning a single-family home.”. The number of active listings, however, soared by 125 per cent, compared to Oct. 2019. Hey PFC! Legally evict a tenant in your condo you can ’ t sold yet ), so the HDB would your... S can t sell condo condo sales and prices have so far remained at odds with the region ’ s out! Wasted time condos in ‘ hot ’ buildings that are walking distance to and! 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