STEPHANIE RIO MACFARLAND | Reading Real Estate, North Reading Real Estate, Wakefield Real Estate


Let's face it – no condo seller wants to deal with a high-pressure negotiation. Lucky for you, we're here to help you streamline the process of selling your condo so you can avoid stressful negotiations with property buyers.

What does it take to remain calm, cool and collected during a negotiation with a condo buyer? Here are three tips that every condo seller needs to know.

1. Consider the Condo Buyer's Perspective

As an informed condo seller, it is important to consider both sides of a negotiation. By doing so, you can evaluate a condo buyer's perspective and plan your next move accordingly.

For condo sellers, the goal is to get the best price for a property. As such, a condo seller who performs extensive housing market research probably understands the true value of his or her residence.

On the other hand, a condo buyer is likely to conduct real estate market research on his or her own. This property buyer also will assess the current condition of a condo in relation to his or her budget and submit an offer that accounts for these factors.

Ultimately, a condo seller and buyer should try to find common ground. That way, both parties can work together to get the best results out of a negotiation.

2. Review All of Your Options

After a condo seller accepts a buyer's proposal, the next step likely involves a property inspection. At this point, a condo acquisition may move forward, or a condo seller might need to rethink his or her plan.

If a condo inspector discovers myriad problems with a property, a condo buyer may ask the seller to complete repairs or lower the price of the property. Meanwhile, a condo seller will need to review all of his or her options quickly.

Following a condo inspection, it is important to consider the results of the evaluation.

If a condo seller discovers major repairs are required, he or she should consider completing the repairs or lowering the price on a property.

Or, if a condo buyer asks for a major price reduction even though only minimal repairs are needed, a seller should be unafraid to say "No" to the buyer's requests.

It is important for a condo seller to feel comfortable with any decision that is made throughout the property selling cycle. Thus, if a condo seller is uncomfortable with completing property repairs or reducing the price of a residence after a property inspection, he or she should be ready to decline a buyer's demands.

3. Consult with a Real Estate Agent

A real estate agent will handle negotiations between a condo seller and buyer. Therefore, this housing market professional can play a pivotal role in a seller's ability to get the best price for a condo.

Consulting with a real estate agent who possesses condo experience is key. This real estate agent can keep you up to date during negotiations with condo buyers and ensure you are fully satisfied with the final results.

Take advantage of the aforementioned tips, and you can move one step closer to maximizing the value of your condo.


This Condo in Reading, MA recently sold for $292,000. This Garden style home was sold by STEPHANIE RIO MACFARLAND - William Raveis R.E. & Home Services.


4 Summit Drive, Reading, MA 01867

Condo

$299,900
Price
$292,000
Sale Price

4
Rooms
1
Beds
2
Baths
Well maintained 5th floor condo in desirable summit estates. Ideal for first time home buyer, looking for an easy commute by car or commuter rail. Walk/jog trails, steps away. Washer/dryer in unit, balcony to overlook wooded grounds. Covered parking space, plenty of visitor parking.





148 Main Street, North Andover, MA 01845

Condo

$229,900
Price

4
Rooms
1
Beds
1
Baths
Welcome Home to Sutton Pond Condominiums! You will love this larger one bedroom first floor unit in the Abbott Building, with over 1,000 square feet of living space. The open concept Living Room and Dining Room is great for entertaining guests, and there is plenty of sunlight from the large bay window. The Master Bedroom is spacious with a walk in closet. There is a second room with a closet that could be used for a bedroom, den or office. The Full Bath was completely renovated - it's like your own spa! You can even watch TV from the 6 foot soaking tub! This unit has a laundry room with a full sized washer and dryer. Plenty of storage! Central A/C! Assigned Parking! In the building there is a club room, gym, shared deck, and additional on site storage. This historic mill building is conveniently located close to the downtown's shops, restaurants, and also close to major highways and the commuter rail. Enjoy all that North Andover has to offer!
Open House
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September 29 at 10:30 AM to 12:00 PM
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Location: 148 Main Street, North Andover, MA 01845    Get Directions

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This Condo in Reading, MA recently sold for $300,000. This Townhouse style home was sold by STEPHANIE RIO MACFARLAND - Premier Realty Group, Inc.


705 GAZEBO CIRCLE, Reading, MA 01867

Condo

$270,000
Price
$300,000
Sale Price

4
Rooms
1
Beds
1/1
Full/Half Baths
OPPORTUNITY KNOCKS at GAZEBO CIRCLE! OWN for LESS than most rents today. BUILD your OWN EQUITY with your very own STYLE. This ONE BEDROOM condo does need UPDATING, but it will be WELL WORTH the effort. With 950 SQUARE FEET of living space, you'll be pleasantly surprised with how roomy it feels. The DINING ROOM SLIDER leads to the BALCONY and allows lots of SUNSHINE. The kitchen is packed with CABINETS and the OPEN FLOOR PLAN is great for entertaining. The BEDROOM is big enough to hold a KING-SIZED bed, and has two closet spaces. There is a LAUNDRY in the unit for your convenience. Attached garage, A/C, and plenty of storage. Newer hot water heater (2015.) BRING YOUR IDEAS TODAY! Close to major highways, Commuter rail, and downtown shops and restaurants.




After you complete a condo inspection, you'll need to make a major decision: Should you move forward with your condo purchase or rescind your offer?

Ultimately, there are several important questions to assess before you finalize your decision on a condo, including:

1. What was discovered during the property inspection?

Study the results of a condo inspection closely. By doing so, you'll be able to learn about a condo's strengths and weaknesses and plan accordingly.

A property inspector will evaluate a condo both inside and out. He or she also will provide honest, unbiased feedback, enabling you to make an informed decision about how to proceed with a condo.

Take into account major and minor condo problems that a property inspector discovers. And if this inspector finds minor flaws associated with a condo, you may want to stay the course and move forward with your initial proposal.

On the other hand, if a property inspector finds significant problems with a condo, i.e. issues that may prove to be costly and time-consuming, you may want to consider rescinding your offer. Or, in this case, you can always ask the condo owner to complete property repairs before you finalize a condo purchase.

2. How much will it cost to perform assorted condo repairs?

The costs associated with condo repairs will vary. However, if you allocate the time and resources to learn about condo problems and the costs associated to fix these issues, you may be able to avoid expensive, time-intensive mistakes.

For example, consider what might happen if a property inspector discovers a defective kitchen light switch in a condo. Although this light switch is a problem, the time and costs needed to repair or replace the faulty light switch likely are minimal. As such, a condo buyer may choose to ignore this problem, or a condo owner may be willing to complete the fix quickly.

Conversely, consider what could happen if a property inspector finds that a condo's furnace is defective. It may cost thousands of dollars to fix or replace a faulty furnace. As a result, a condo buyer may ask the property seller to repair or replace the defective furnace. And if the condo owner fails to do so, a buyer may choose to walk away from the condo purchase altogether.

3. Can I enjoy this condo both now and in the future?

It is essential to consider both the short- and long-term ramifications of a condo purchase. That way, a condo buyer can determine whether a property can serve him or her well for years to come.

A property inspection offers valuable information that a buyer can use to assess the pros and cons of purchasing a condo. Furthermore, a condo buyer who works with an experienced real estate agent can get the support needed to make the best decision possible.

Consider the aforementioned questions as you evaluate your options following a condo inspection, and you should have no trouble deciding whether a particular condo is right for you.




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