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How do you prepare a Florida Condo to sell? Doing whatever you can to put your Florida Condo's best face forward is very important if you want to get close to your asking price or sell as quickly as possible. Here are several ideas for making your Florida Condo show better: Make sure the association is sweeping the sidewalk, mowing the lawn if there is one, pruning the bushes, weeding the garden and cleaning debris from the surrounding areas. Clean the windows (both inside and out) and make sure the paint is not chipped or flaking. If your Florida Condo was built before 1978, new federal law gives a buyer the right to request a lead inspection. Do the inspection yourself beforehand and make any fixes you can. Be sure that the doorbell works. Clean and spruce up all rooms, furnishings, floors, walls and ceilings. It's especially important that the bathroom and kitchen are spotless. Organize closets. Make sure the basic appliances and fixtures work. Get rid of leaky faucets and frayed cords. Make sure that your Florida Condo smells good: from an apple pie, cookies baking or spaghetti sauce simmering on the stove. Hide the kitty litter. Put vases of fresh flowers throughout your Florida Condo. Have pleasant music playing in the background which will help you set your stage. What repairs should the seller make to Florida Condos? If you want to get top dollar for your Florida condo, you probably need to make all minor repairs and selected major repairs before going on the market. Nearly all purchase contracts include an inspection clause, a buyer contingency that allows a buyer to back out if numerous defects are found or negotiate their repair. Do not overspend on pre-sale repairs, especially if there are few Florida condos on the market and many buyers. On the other hand, making such repairs may be the only way to sell your Florida condo in a down market. Do sellers of Florida Condos have to disclose the terms of other offers? Sellers of Florida Condos are not legally obligated to disclose the terms of other offers to prospective buyers. What are the standard contingencies when selling Florida Condos? Most purchase offers include two standard contingencies: a financing contingency, which makes the sale of the Florida condo dependent on the buyers' ability to obtain a loan commitment from a lender, and an inspection contingency, which allows buyers to have professionals inspect the Florida Condo property to their satisfaction. The purchase contract must include the seller's responsibilities, such things as passing clear title, maintaining the property in its present condition until closing and making any agreed-upon repairs to the Florida Condo property. Whose obligation is it to disclose pertinent information about a Florida Condo property? In thge State od Florida the seller has an obligation to disclose information about a property that affects it. Under the strictest laws, you and your agent, if you have one, are required to disclose all facts materially affecting the value or desirability of the Florida Condo that are known or accessible only to you. This might include: The Florida Condo's homeowners association dues; whether or not work done on the Florida Condo meets local building codes and permit requirements; the presence of any neighborhood nuisances or noises which a prospective buyer might not notice, such as a dog that barks every night or poor TV reception;and any restrictions on the use of the property, such as zoning ordinances or association rules. It is wise to check your state's disclosure rules prior to a Florida Condo home purchase. How does someone sell a Florida Condo that in a slow market? Even in a down market, real estate experts say that price and condition are the two most important factors in selling Florida condos. When selling in a slow market,the first step is to price your Florida Condo correctly. Use comparative sales information from your agent, or pay for a professional appraisal to objectively evaluate your Florida condo's worth. Second, go through your Florida Condo and repair any obvious cosmetic defects that could deter a potential buyer. In a slow market, you may have to consider lowering your price and/or making a major repair, such as replacing the roof or repainting the exterior, in order to lure a buyer. Make sure that your Florida Condo home is getting the exposure it deserves through regular open houses, special broker open houses, advertising, good signage, and listings on the local multiple listing service (MLS) and on the Internet. Finally, if you who have no equity in the Florida Condo, and are forced to sell because of a divorce or financial considerations below the mortgage amount, you could discuss a short sale or a deed-in-lieu-of- foreclosure with your lender. A short sale is when the seller finds a buyer for a price that is below the mortgage amount and negotiates the difference with the lender. In a deed-in-lieu-of-foreclosure situation, the lender agrees to take the Florida Condo back without instituting foreclosure proceedings. Do I have to consider contingencies when selling a Florida Condo? If you are a seller in a seller's market, in which there is more demand than supply, you probably won't have to entertain too many contingencies. But if you are selling in a buyer's market, when buyers are few, prepare to be very flexible. Granting contingencies also depends upon what kind of price you want to get and on the condition of your Florida Condo. Remember, contingencies are written into the contract and are negotiable during the negotiation phase only.
What is the best time to sell your Florida Condo? There is no "best" time to sell Florida Condos. Selling Florida Condos depends on supply, demand and other economic factors. But the time of year in which you choose to sell can make a difference both in the amount of time it takes to sell your Florida Condo and in the ultimate selling price. Weather conditions are less of a consideration in more temperate climates like Central Florida, but most of the time, the real estate market picks up as early as February, with the strongest selling season usually lasting through May and June. With the onset of summer, the market slows. July is often the slowest month for real estate sales due to a strong spring market putting possible upward pressure on interest rates. Following the summer slowdown, real estate sales activity tends to pick, although less vigorous, with the fall market which usually lasts into November when the market slows again as buyers and sellers turn their attention to the holidays. If this makes you wonder if you should take your Florida Condo home off the market for the holidays, consider the advice of veteran agents: You are always more likely to sell your Florida Condo if it is available to show to prospective buyers continuously. The professional agents at R & S Realty Group, Inc. can assist you in preparing your Florida Condo for the re-sale market.
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