How To Sell A Condo or Townhouse
on Long Island

The first step involved in selling your condo or townhouse is preparing the documents. Your paper work should be available for all parties in the transactions to review. It includes you're:

· Tax Bill
· Offering plan or prospectus
· A copy of the rules and regulations
· A recent community budget
· Your deed

Often Buyers as well as their attorneys may want to read these documents.

Although you are not required by law to hire an attorney, I recommend you do so. Your attorney is one of the key players in a real estate transaction. Just like your real estate agent, he or she works for you and puts your needs above all other parties in the transaction. I would be glad to recommend a local attorney that is familiar with condo-townhouse sales.

Once you have decided to sell, try to look at your home objectively. Begin to prepare the condo or townhouse for buyer viewings. Make your home as presentable as possible. This includes removing all clutter, minor repairs, and cosmetic improvements. The term staging is defined as preparing your condo or townhouse for buyer showings. Your real estate agent can make suggestions.

Contact a local real estate agent who is familiar with your development. He or she should be aware of the most recent sales and the units currently for sale (your competitions). Pay special attention to the condos or townhouses that are the same model or square footage as yours. If you're considering selling without the benefit of a realtor, be prepared. Research your Market and be ready to pre-qualify your buyer prospects. Arrange a marketing plan that will attract buyers to your home. Try to include some kind of internet marketing for your condo. Over 85% of condo and townhouse buyers go through the internet to shop for a home. Your internet posting can make a strong impression. It can illustrate to a buyer the value of your home and development. Include your floor plans and virtual tour of your condo's amenities and clubhouse. Remember the price of your condo or townhouse is derived from the amenities, clubhouse and community facilities in addition to your interior. With a strong internet presence a buyer can be half sold before they personally inspect the condo.

You may be considering renting your condo or townhouse as an alternative to selling in a soft real estate market. Before doing so, check with your condominium board or homeowner's association. The association may charge the owner a fee for renting their home or it may not be permitted at all. Your real estate agent can do a background check on prospective tenants. This would include income verification, a credit report and score, and references from most recent landlords. Being a landlord is not for everyone; however it can be very rewarding.

Often after a buyer agrees to a purchase price, they hire a home inspector. There is not much you as a seller can do to prepare for this. Give the inspector (who should be licensed or certified) access to the entire condo or townhouse. He or she will be examining the heating system, plumbing, appliances and air conditioning. The structure and foundation is normally the HOA's responsibility. The buyer pays for the inspector's services and receives the report. The buyer may attempt to re-negotiate the purchase price if the report holds any surprises or concerns. The inspection is done before formal contracts or sale is signed.

Who is your buyer? What will appeal to him or her in your community? Hire a real estate agent who will be familiar with your complex. When a buyer decides to purchase your home they're also buying into the development. Does the community offer a condo association maintained golf course to its residents, just like Blue Ridge in Medford? Bretton Woods in Coram and Birchwood in Springlake in Middle Island also provide golf courses to their owners. An avid golfer may be the buyer demographic for these communities.

If you own a condo in Fairview Circle at Artist Lake in Middle Island you are among the most affordable condos in the area. The complex offers one level models and you can walk to shopping areas.

Owning a condominium in Whispering Pines or Colonial Woods can appeal to a buyer who wants the advantages of a home with the convenience of a condo. This community offers a garage, wood burning fireplace and a full basement. The Condominium Association maintains the grounds. You have the features of a home without the maintenance.

The above neighborhoods are just a few of the developments a local realtor should have knowledge of. The percentage of buyers who purchase a condominium or townhouse is 20% of the total buying market according to the national association of realtors. The percentage rises to 27% for first time buyers. Our job allows you to be prepared to appeal to your buyer's needs and emotions.