Home Selling in 34470>Question Details

Brat729, Home Seller in 34470

HELP please condo not selling!

Asked by Brat729, 34470 Sun Jun 26, 2011

Have my condo on the market for 8 months and no bites yet. Had about 6 lookers. Have lowered the price and still nothing. Does anyone know if there are any home investors that will buy it? How much do you think I could get if the house is worth lets say 100,000 by going with an investor if there are any? I really need to get this condo off my hands. Condo has no mortgage payment on it.

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Alma Kee’s answer
You can change either the "product" (condition of your condo) or the "price".

Clearly you're overpriced or there are condition issues if it hasn't sold in 8 months.

Pay $350 and hire an appraiser if you're not sure about the price and/or pay $200 to a "stager" to create a look that will attract mutliple offers at the highest possible price.

Also take a look at how your Realtor "presells" your condo on Realtor.com. Some agents do not pay the extra fees to be able to include a virtual tour, customized description and 25 photos. You want buyers to "tell" their Realtor they want to see your condo.

Otherwise you can simply lower the price and eventually an investor will buy it and make the needed upgrades and then flip it for a profit.

All the best,
Alma Kee
0 votes Thank Flag Link Thu Apr 12, 2012
To be successful selling your condo, you need to be the best looking, best staged, best marketed unit in the price range. Many agents will jump right to price, but ignore the other factors. I always recommend all other aspects be reviewed and considered before we automatically jump to price.
If you are already priced below your competition what other factors are getting in the way? Do you have a bad location? Are other units selling, but not yours or is the entire complex suffering the same result as you?
1 vote Thank Flag Link Sun Jun 26, 2011
Hi Christopher-

The condo is in very good shape. prices 20,000 less than others in my area. I don't know what else to do.
1 vote Thank Flag Link Sun Jun 26, 2011
I am interested in finding a home to pay a low down payment and assume a loan on a condo in a gated community. or lease purchase. I have lived here in Knoxville, TN in the same house for 25 yrs and due to health problems, I need to move to a warmer climate, like Ocala, FL. My only income is permanent disability in the amount of $690. per month. I get food stamps and medicaid for my medical problems for the rest of my life. I would be willing to do a direct deposit into your account monthly, to insure that your payment is made. Let me know if you might be interested in something like this. My e-mail is kimber_rose1@juno.com. Thank you, sincerely, Kimberly White
0 votes Thank Flag Link Wed Apr 11, 2012
How do the photos look in the listing? Does your home look fresh, bright, uncluttered and updated? If not, that can keep buyers from wanting to see your home in person, since most people start their home searches online. Contact a professional home stager for a consultation. An hour-long consultation usually costs less than $200, and you'll get professional advice and insights about what can be done to make your condo more appealing to buyers. Then, take new pictures (make sure each room is flooded with natural light) and replace the old pictures on your listing. The lower price and better pics will help attract buyers. Good luck!
0 votes Thank Flag Link Tue Jun 28, 2011

What kind business?
0 votes Thank Flag Link Mon Jun 27, 2011
How high are the monthly condo fees?

Is your listing agent a well known discount realtor? Are you offering at least 3% to the buyer's Realtor? Is your Listing agent charging the buyer's Realtor a miscellaneous MLS/garbage fee which results in the Buyer's Realtor getting less than 3%?

Is the unit easy to show? Can a Realtor show with 10 minutes notice? If you're living in the condo do you make sure to leave for all showings? Is the condo so immaculately clean that a buyer would be comfortable eating off of your floors? ok... this is a little extreme but you must have an immaculately clean place to get the most for your condo.

Have you gotten a market update of actual "sold" condos?

Lastly if you want to get a very accurate idea of the current market value, you may want to pay a Florida licensed appraiser. The $350 you will spend will give you the most accurate idea on how to adjust your value versus sold condos, i.e. cherry hardwood cabinets, granite counters, hardwood floors, etc.

Hope this helps.
0 votes Thank Flag Link Mon Jun 27, 2011
Instead of reducing the price, offer the selling agent a bonus.
Web Reference: http://www.321property.com
0 votes Thank Flag Link Mon Jun 27, 2011
Have you try nearby business. Some companies willing to buy for investment.
0 votes Thank Flag Link Mon Jun 27, 2011
Hi, try making your condo the best value in your area. You do this by making sure it is in great shape, presentable, and priced a few thousand under all of the other units. If you have 100% equity and really need to get rid of it this might make the most sense.

Christopher Pagli
Licensed Associate Broker
Accredited Buyer Representative
GREEN Designated Agent
William Raveis Legends Realty Group
0 votes Thank Flag Link Sun Jun 26, 2011
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