HomeSmart Logo

The Condo Mania Team

News > FAQs: Selling Your Condo

I owe more on my condo than I can sell it for. What do I do?

Loan modification, short sale, foreclosure, or "hang in there" - these are the choices you have when you are faced with a home you want to sell, but can't. If you are under some financial hardship, you may first want to talk with your lender to see if there is anything they can do to reduce payments, or change the interest rate.  If you must sell, a short sale is a possibility, but you should first talk with a lawyer that specializes in real estate issues, and your accountant.  Give us a call too, so that we can help guide you through the decision making process from a real estate standpoint.

I see several condos for sale like mine at $200,000.  Can I sell mine for that much?

Prices of units currently on the market is one data point that goes into determining what price you should offer for your unit.  After all, a buyer will look at 2 identical condo units in the same community and pick the less expensive one to offer on.  However, if your condo has different features (view, interior upgrades, location in the community), figuring out how much those features are worth to a buyer is a difficult task, one which we have some experience with every time we list a condo for sale.

Also, it's very important to look at what has sold as well. Often, sellers are overly optimistic when they first list a condo for sale, and reality will cause the price to be adjusted lower over time.

Why should I choose your team to list my condo?

We have the ability to get your condo in front of a large number of targeted buyers.  Almost no other agent can promise that.  We'd be happy to talk with you further about our marketing plan.





Though not guaranteed, information and statistics in this article have been acquired from sources believed to be reliable.

Related Links


Logo for Fair Housing ActThe Fair Housing Act prohibits discrimination in housing based on color, race, religion, national origin, sex, familial status, or disability.

Information Deemed Reliable But Not Guaranteed. The information being provided is for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information, including square footage, while not guaranteed, has been acquired from sources believed to be reliable.

Last Updated: 2024-06-22 00:49:05