05.25.2023 | Seller Resources

Condo Red Flags: Fix These # Things Before Selling Your Toronto Condo

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Ready to leap from being a homeowner to a first-time seller? Hold onto your hats (and condos) because we, the cool cats at Homeplicity Realty Group at Keller Williams, are here to jazz up your selling journey. So, grab a cup of joe (or that green smoothie, we don’t mind), and let’s dive into these nitty-gritty condo seller queries. Buckle up, Toronto, it’s going to be a wild ride!

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Polishing Your Condo for a Spotlight Debut

Remember, first impressions last forever! So, when prepping your condo for sale, think of it as setting up the stage for a grand performance. Here are a few things to check off your list:

1. Sprucing up with a Fresh Paint Job: Let’s face it, everyone loves a makeover! A fresh coat of paint can transform your condo from drab to fab. Don’t let buyers overestimate repair costs due to those tiny scuffs and dings you’ve grown immune to. Spruce up your walls with a fresh lick of paint and let your condo sing a symphony of fresh and clean!

2. Revamping the Caulking: The bathroom should be a sanctuary, not a horror show. Peeling or blackened caulking can deter potential buyers. Re-caulk your showers and tubs for a shiny, inviting finish.

3. Sparkling Clean Windows: Who needs art when you’ve got a killer view? Don’t let dusty, grimy windows mask your condo’s potential. Clean them up, or hire a pro to do it for you, and let Toronto’s splendour do the rest.

4. Tending to the Minor Repairs: You might have learned to live with a stubborn window crank or a torn balcony screen, but they could be potential deal-breakers for buyers. Take care of these niggles before they become red flags.

5. Beautifying the Entrance: And let’s not forget the welcome mat to your condo: your front door and hallway carpets. If they’re looking a bit worn, dial-up property management and request a spruce-up.

6. Declutter and Shine: Declutter your space, and pay attention to your floors and baseboards. A clean, open space allows potential buyers to envision themselves in your unit, and this could be the deciding factor in sealing the deal.

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The Importance of Building Health and Renovations

Beyond your condo’s front door, potential buyers are also investing in a vertical neighbourhood. Disclose any known issues or defects to potential buyers to avoid any curveballs during the sale. This includes the status of your building, any special assessments, and the existence of Kitec plumbing if your building was built pre-2007.

Did you revamp your condo without the condo board’s approval? Better jot that down! Buyers appreciate honesty and would rather not inherit any problems with the condo board.

Showcasing the View

Finally, the view. If you’re selling a condo with a view of an empty lot or parking space, do some digging. Are there any plans to build on that site? Get as much information as you can to anticipate buyers’ questions.

Secrets to Selling Your Condo

Now that your condo is polished and prepped, how do you make sure it’s noticed by potential buyers? Here’s where our hip Homeplicity Realty Group at Keller Williams steps in.

1. High-Quality Photography: A picture is worth a thousand words, and a great photograph can sell your condo. Showcase your condo’s best features with professional photography that stops buyers in their tracks.

2. Virtual Tours: Add a dash of the future to your listing. Virtual tours and video walkthroughs give buyers a feel for the space, enticing them to explore further.

3. Social Media Buzz: Amplify your condo’s reach with social media. Post your listing on platforms like Instagram, Facebook, and Twitter to pique the interest of a broader audience.

4. Creative Descriptions: Make your listing unforgettable with a touch of creativity. Highlight your condo’s unique features in a way that gets buyers dreaming of their new home.

Remember, you don’t just want to list your condo; you want to make it a must-see for Toronto’s discerning buyers.

Be Transparent

In the world of condo selling, honesty is more than a virtue; it’s a requirement. Provide a full account of all renovations and repairs done, and always ensure they align with the condo board’s guidelines. Disclose any special assessments or known issues, and don’t forget to order your status certificate. The more transparent you are, the smoother the sale process will be.

The Financials

Closing costs can feel like the plot twist you didn’t see coming, but we’re here to make it as straightforward as possible. You’ll need to cover your real estate agent’s commission, legal fees, and any outstanding mortgage balance or condo fees. Our team can provide you with a detailed breakdown so there are no surprises, only satisfied smiles.

How Long Will It Take to Sell My Condo? We all wish we had a crystal ball to predict the exact timeline, but the truth is, it varies. Factors like location, pricing, and market conditions play a significant role. But here’s the good news: with our experienced Homeplicity Realty Group by your side, you’ll have the inside track to navigate the Toronto real estate market effectively.

Can I Sell My Condo If It’s Rented?

Plot twist! Yes, you can! Just ensure you give your tenants proper notice in accordance with Ontario’s Residential Tenancies Act. Remember, open communication and collaboration can make this process a smooth ride.

Make Your Condo Stand Out

In a bustling market like Toronto, standing out from the crowd is the key to success. In addition to all the tips shared above, consider sweetening the deal with unique incentives. Think of it as the sprinkles on your condo sundae!

Ready to take the plunge and navigate the sea of condo selling? We, the Homeplicity Realty Group at Keller Williams in Toronto, are ready to steer the ship. Reach out to us via a call, DM, or an email, and let’s get this show on the road!

And remember, confidence is key. We’re here to make your condo-selling journey a remarkable one. Let’s take the Toronto condo market by storm, together!

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