Help on sell condo by owner

[hexd3mon]

Hi, I'm decided to sell my condo around June this year. I don't really like the idea of a real estate agent riping off my money, so I'm plan to sell the condo by myself. I'm wondering what are the typical processes with the paper works that I have to do??
where can I get the most information regarding sell condo by owner??

Thanks

[max_boost]

LOL

If you have to ask, you are better off getting a realtor then buddy.

[turbotrip]

welist.com

[Melinda]

There's a lot of paper work involved to selling a place, even more so with a condo than a house. I cant remember it all, but I think welist would be able to help you. Good luck selling by owner though man, there are litterally THOUSANDS of condos on the market right now and with the future completion of one or two more developments between now and june, that number will just climb higher. Good luck getting anyone to look at welist instead of all the professional mls listings that realtors have access to...I know when we bought our house welist wasn't even an option for looking at. Too many headaches to deal with a noob as opposed to dealing with someone's professional realtor.

[Unknown303]

I'm with Melinda on this one. I just recently purchased a place and never even considered looking at welist since going through a realtor you at least have someone who has done all the papers before and knows the general process.

On that note you could always find out if you have a realtor friend somewhere who would be willing to tell you what you need or where to look for it.

[canuckcarguy]

I'd echo both these comments, selling by owner is challenging at the best of times, and gets really tough in this kind of market. You'll likely end up discounting the place to sell it, and may end up with the same money you were getting from the realtor in any event.

I suppose, though, that if there are a few places for sale in your complex, you could put up a sign next to the others and in full view of the front entrance, urging prospective buyers to "call you before signing a deal" on the other units. Then, if yours is a bargain by comparison, you might get lucky. You'll have to decide whether you want realtors to be able to call you, since some buyers will be more comfortable dealing with a realtor than with a vendor. Typically, in this situation, you'll pay only a half commission, maybe less if you're a good negotiator.

good luck.

[calgary350z]

I would list with both seller direct and welist, I saved alot and sold mine for a pretty good price. I did alot of research on MLS first and sold it myself, then my agent just did the paperwork. Saved me thousands

[calgary350z]

Wow that just sounded like an infomercial

[barmanjay]

Mel is bang on

more new condos will be appearing by june,.. why wait till then?

sell now before there is a chance of the condo market sliding a bit.

If you do change your mind, there are 2 other active beyond members including myself that are licensed realtors

[Xtrema]

This ain't 2007/2006, there are too many condos on the market and many who don't want to lose money are forced into turning them into rentals.

Even realtors will have trouble selling, good luck on doing it on your own.

[01RedDX]

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[Canmorite]

An open house, with a stager setting up your house first would most likely help. With tons of other property listings, marketing your place to the fullest will only boost your chances of a sale.

Good luck.

[ckangarloo]

I tried Welist.com for three months and didn't get one showing for my condo. What I did get was about three phone calls a day from Realtors (bottom feeders) asking me if I wanted to list with them (all for the standard commission, mind you). One Realtor called me about eight times!
I ended up listing with a great Realtor who let me keep the Welist ad (marked it as agent chosen) and I got a great deal on the listing agents commission (no negotiation on the buyers agents commission).
And guess what? Four weeks after listing with this Realtor, sold (earlier this week)! In this market, with the extraordinary inventory, Welist.com makes no sense.

[whodiman]

For people trying to sell or have just sold. Is it really THAT hard to sell right now?

[01RedDX]

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[ralliart_girl]

It is really hard to sell right now, but for anyone that has listed they home at a reasonable price...those are still going quick...

I found that alot of people are still listing their homes like it was 2 years ago..that is why there are not selling...cause the boom is over..

[TACO.VIDAL]

Condos can be a commodity.

Are you in a new building? Then the above statement is even more true.

If you have other units for sale in your building, price yours accordingly and take $5,000 off the list price. Put it on welist AND post ads in your lobby and elsewhere in the neighbourhood. Anyone coming to view other units in your building will see your ad and should be intrigued by the lower price.

This thread shows the typical attitude of brainwashed buyers who BELIEVE they need an agent to buy or sell a property.


Originally posted by hexd3mon
Hi, I'm decided to sell my condo around June this year. I don't really like the idea of a real estate agent riping off my money, so I'm plan to sell the condo by myself. I'm wondering what are the typical processes with the paper works that I have to do??
where can I get the most information regarding sell condo by owner??

Thanks

[PHX]

If you want to avoid paying a realtor, but you still want to get your condo listed on MLS find a broker who will list it for a fee. Most brokers charge between $400-$600. There are a ton of brokers in Calgary that will do this for you.

[Xtrema]

Originally posted by TACO.VIDAL
Condos can be a commodity.

Are you in a new building? Then the above statement is even more true.

If you have other units for sale in your building, price yours accordingly and take $5,000 off the list price. Put it on welist AND post ads in your lobby and elsewhere in the neighbourhood. Anyone coming to view other units in your building will see your ad and should be intrigued by the lower price.

This thread shows the typical attitude of brainwashed buyers who BELIEVE they need an agent to buy or sell a property.



?? People in the building are probably wanting to get out like he is. The lobby ad will just give others idea what they need to do to beat you.

I believe you can do without realtor the last 2 years. Now, you'll need the help.

[Melinda]

Originally posted by TACO.VIDAL
Condos can be a commodity.

Are you in a new building? Then the above statement is even more true.

If you have other units for sale in your building, price yours accordingly and take $5,000 off the list price. Put it on welist AND post ads in your lobby and elsewhere in the neighbourhood. Anyone coming to view other units in your building will see your ad and should be intrigued by the lower price.

This thread shows the typical attitude of brainwashed buyers who BELIEVE they need an agent to buy or sell a property.


So you tell him to take $5000 off the price? He will definately still get haggled down lower even if there is an offer put in. I don't know how much your realtor charges, but we sold our place for $290,000 and paid our realtor somewhere around $10,000. We only droped $2500 off our original asking price as well. Most apartment style condos aren't going to go for as much as our townhouse went for, so dropping that $5000 just to sell on his own hardly sounds worth it when considering all the red tape and details you have to take care of when selling by owner.

[01RedDX]

.

[hexd3mon]

Thanks for all the comments. I decided to keep renting it out for a year or two. I'm thinking of increasing the rent from $900 to $1100, is that too much a increase? the condo is at Dalhousie, two levels, two bedroom and a washroom. The rent will be includes water, cable and condo fee.

[Melinda]

^^ Sq/ft?

[Weapon_R]

Originally posted by hexd3mon
Thanks for all the comments. I decided to keep renting it out for a year or two. I'm thinking of increasing the rent from $900 to $1100, is that too much a increase? the condo is at Dalhousie, two levels, two bedroom and a washroom. The rent will be includes water, cable and condo fee.

If it covers your costs, then keep it where it is. Dalhousie isn't a hugely popular area for most people. It will take you 6 months to recover any losses if your tenants leave and the place is vacant for a month.

[hexd3mon]

Thanks for everyone's help on this forum. I had rent it out already. :clap: