Guide to Selling Your NYC Condo, Coop or Townhouse
If you’re planning to sell your home, it’s important to have a plan for how you’re going to proceed. By taking the time to complete some upfront preparation, you can avoid many of the issues that often plague sellers throughout this process. Carlton Residential has compiled the following guide to help you be aware of what needs to get done:
5 Important Guidelines for Sellers
- Not only will the agent you choose play a significant role in how quickly your home sells and for what price, but they will also influence how smoothly this process goes from beginning to end. Because an agent can make or break the success of your listing, it’s important to choose wisely.
- Pricing is a vital component of securing the best outcome for your sale. By choosing an agent that you trust, you can feel good about the comparable listings they show you and the price you ultimately decide to put on your listing.
- Since seasonality and timing have an influence on real estate sales, be sure to discuss this subject with your agent.
- It’s a good idea to meet with your accountant and lawyer prior to putting your home on the market. Having these meetings will ensure you’re aware of all the financial implications the sale will generate.
- Even if your home is already in good shape, taking the time to have minor touch-ups like the application of fresh paint will ensure that your home is in optimal shape from the first day it goes on the market.
How to Prepare Your Home to Be Listed
- The first step is to take care of minor repairs. The best way to identify the specific repairs is to turn to your agent for guidance. Examples of common repairs include painting walls, re-grouting tile, fixing leaky faucets, replacing light bulbs and dealing with any signs of water damage.
- A handyman should be able to handle all the repairs recommended by an agent. Once those repairs are complete, it’s a good idea to have your home professionally cleaned. Since buyers will look at everything inside your home, be sure to choose a cleaning company with a reputation for doing detailed work.
- The best way to create a great first impression whenever buyers walk into your home is to stage it. The reason that staging is so useful is because it makes it easier for buyers to picture themselves living in the spaces they’re walking through.
- Because the goal of staging is to optimize every room in your home, it’s a good idea to hire a professional. Working with a professional is the best way to avoid mistakes like using furniture that’s too bulky or failing to arrange furniture in a way that emphasizes open space.
3 Easy Ways to Add Value to Your Home
- While repairs, cleaning and staging are often all that’s needed to prepare a home to be listed, sellers commonly ask us if there are any upgrades they should consider making.
- The first upgrade we recommend is to improve lighting. Since this can be as simple as switching to better bulbs, it’s a simple change that can make a noticeable difference.
- New appliances are another upgrade to consider. For a reasonable price, new appliances can give a kitchen a look that’s significantly updated.
- Although you should consult with your agent prior to making a significant change, there are situations where refinishing floors or upgrading to better windows is a savvy investment to make prior to listing.
Be Aware of Closing Costs
- After accepting an offer and going through the remaining stages in this process, the last step is closing. It’s important to be aware of the closing costs you can expect to pay.
- Since a real estate attorney is crucial for protecting your interests, you can expect to pay at least $2,500 for their services.
- In most cases, you will need to pay the NYC real property transfer tax, as well as the NYS transfer tax.
- Payoff bank fees, managing agent fee and a broker commission of 6% are also fees associated with most sales.
- Prior to signing any closing or fee documents, be sure to review them with your attorney.
To inquire or request a free property valuation please contact CARLTON or call 212-658-0817