Time and families grow, and many condo & co-op owners are now ready to trade up to that single-family home. If you are such a condo/co-op owner and are concerned about finding a ready pool of buyers for a fairly priced unit in a well run complex – don’t be. This is a large segment of the real estate market and the buyers are there.
The mechanics of selling a condo/co-op are not all that different from selling other types of real estate. Your agent should have copies of the master deed, rules, regulations and agreements which spell out each owner’s /stockholder’s rights, limitations and responsibilities and be familiar enough with them to answer questions from prospective buyers.
Your agent should be familiar with marketing strategies geared to young buyers and empty nesters as well as the requirements of area lenders who’ll finance the acquisition. In addition, your agent should be able to reference prices of other comparable units in order to help you set a realistic asking price.