Posts tagged selling coop

How to Prepare Your Home (or Condo or Coop) For Showings—Perception Is Reality

Apr 30th

Posted by Craig Delsack in Real Estate, Condos & Coops

In most cases, you have one shot at impressing potential buyers. Don’t take it personally separate yourself from the personal feelings you have about the home (it’s not your home now, it’s a commodity you intend to market). If you were buying the condo, coop or home, what would you think about the home? Take a close look at the condition of your home and prepare your home (condo or coop) for showings. You may be rewarded with a faster sale at a higher price.

Start with the basics. Everything from floors to windows must be spotless (including your appliances). Have the apartment professionally cleaned. Offensive odors are a BIG turn-off – eliminate bad odor sources.

Eliminate the clutter. Hide small kitchen appliances and other items that are sitting on countertops and tables; remove photographs from table-tops and organize the closets. Pack up the bulk of large, personal collections.

Make it more spacious. Remove excess furniture to make rooms more spacious. Consider storing boxes and unnecessary furniture in a temporary off-site mini-storage space.

Expose Desirable Features. Remove rugs if they expose nice hardwood floors; remove heavy drapes that keep out natural light.

Repair and repaint. Apply a fresh coat of neutral colored paint; replace broken lighting, bath and kitchen fixtures; use bright bulbs; fix all squeaks and leaks; patch walls; and make sure all doors operate smoothly.

Create an Atmosphere. On days of showings: turn on all the lights, and fill the home with a pleasing smell by placing fresh-cut fragrant flowers on a table or by simmering a small pot of water with vanilla extract.

You should consider hiring a New York real estate lawyer early in the process. He or she will guide you through the home (condo or coop) selling process by preparing and negotiating the real estate broker agreement, drafting the contract of sale, answering your legal and tax questions, and arranging for the documents necessary to complete the sale, among other things.

selling condo, selling coop, selling home

Using a Real Estate Broker to Sell Your Condo, Coop or Home

Apr 30th

Posted by Craig Delsack in Real Estate, Condos & Coops

Find a broker with whom you are comfortable. A broker can: (1) research comparable sales in your neighborhood and has an accurate understanding of the current market (newspaper “asking prices” may be misleading); (2) provide you with a realistic selling time frame, set up a sales promotion plan, advertise the property for you, and adjust the marketing strategy if needed; and (3) recommend any possible improvements to your home to enhance marketability. Generally, brokers have access to the sales efforts of other brokers—your broker has a vested interest in selling your home, he or she will utilize all outlets available to close your deal expeditiously. Keep in mind the following can influence your home’s exposure, among other things: the commission rate, permitting your listing broker to “co-broke” with other brokers, and use of technology (use of real-time market conditions, placing a “virtual tour” of your home on the internet, etc.). You should have your New York real estate attorney review the brokerage agreement prior to your signing to make sure it protects your interests.

Generally, it is not a good idea for the owner to be present when a prospective buyer is viewing the apartment. Buyers do not ask the candid questions they need answered in the presence of the owner nor do they examine the property as thoroughly as they’d like to, for fear of disturbing the owner. Find a broker that has the sales experience to sense which qualities of the property to highlight and which to minimize. Also, a broker will be able to sell your home without emotional involvement. A broker qualifies prospective buyers (including conducting credit checks), so that you will have a purchaser who will qualify for a mortgage and pass the board, if applicable. Lastly, if you do receive multiple offers, the broker can help you evaluate which offer is the best (sometimes, it is not the highest offer but the most qualified buyer to whom you will sell).

If the prospective buyer needs financing, the real estate broker can recommend a mortgage banker, broker or a choice of banks that offer co-op or condo loans on your building. They can also recommend New York real estate attorneys and coordinate access to the property by appraisers and engineers. They also facilitate expediting the board approval process and help find the answers to questions or concerns raised by the seller and buyer.

condo, coop, real estate broker, selling condo, selling coop, selling home