Traditionally, spring is the best season to sell a house, and the winter holidays are the worst. If you did, why don’t you go ahead and share this episode with somebody that you know that could benefit from it. To learn more about condo investing, become a True Condos subscriber by visiting truecondos.com. In other words, weâve got your back. By Devon Thorsby, Editor, Real Estate April 28, 2020. Buying a Condo in Louisville? So go ahead and stage your home if you have to, or make even small touch-ups to make the home feel […], […] you need to enlist the help of experts like a qualified real estate agent and a licensed appraiser, the Coldwell Banker suggests. As a condo seller, you NEED to make your unit easy to show, or you risk turning buyers away â like you would in point #1 by holding back offers. Once you purchase your new home, contact the team at Capital Insurance. By ready, I mean several things: You are ready financially. Okay, until next time, I hope you’re having a great week and we’ll talk to you soon. Well the advantages there are, you don’t have to worry about the HST, as we just talked about. When a condo is seven years old approximately, that is the best time to sell your condo. How to Sell a Condo in Vancouver # 8: When to List a Property for Sale. The CRA is probably going to look at you and say, “You are in the business of investing and selling in real estate. If your place is â¦ Nationally, the best time of year to sell is the first half of May. Condo Versus Co-op: A Comparison . But whether you're buying or selling a condo or co-op, you'll have to do your research and take into account various factors that you wouldn't have to in a "normal" home-sale transaction. Assignment is when you are selling the property before the building is even complete. 12:17 Condos are commodities. You don’t have to become … You’re not a landlord, you’re not dealing with any tenants, you’re just closing on it and selling it, you’re not renting it out. How the CRA is cracking down on assignments – Episode 86. Lindsay is the the Director of Media Engagement for Coldwell Banker Real Estate and manages the brand’s media and social media department. Buyers often suspect that more serious problems may exist if they notice the need for minor repairs. Weâll help you get the best value on your home and condo insurance. The maintenance fees are reasonable, the structure is in good shape, it was built by a quality builder in the beginning. Buying at pre-construction, closing on it, renting it out for seven years, selling it, taking the profits and buying more condos. In effect, you’re flipping the contract. Selling a home vs. a condo can be entirely different because of the nature of how these two housing choices are unique. It’s still not anywhere near its peak, so to speak. Since 2007 Andrew has been sharing his expertise and his insider connections to help hundreds of clients every year to make money by investing in the Toronto condo market. Of course, thereâs something to be said for listing your condo when competition is low too. When selling your condo, you may be obligated to disclose problems that could affect the property’s value or desirability, as well as to disclose HOA minutes and costs of common insurance and utilities. Andrew la Fleur: Hi, welcome back to the show. Best Time of Year to Sell Your Condo. You’re really selling it at a bad time in that sense. The first one is, you can … When is the best time to sell? Now the big downside of doing this is that you’re sort of selling it … You’re selling an asset while it’s still really on the way up. The specifics of your area do more to determine the best time to put your home on the market than whether youâre selling a condo or a house. We talk a lot about when is the best time to buy a condo, but we don’t often look at this subject. When setting the home price for your condo, it’s important to identify your desired price and your bottom line price. Thinking of selling your condo? While the conventional wisdom is that spring is the best time for selling a home, this belief simply doesn’t ring true in every locale. The reason for that is something that we talk about a lot as well. You’re not actually selling any real estate, you’re flipping the contract that you’ve signed to another purchaser before the building is even finished. Condos that are less than seven years old, they’re still considered newer condos, their demand levels are still high enough, so there’s always people wanting to live in those buildings. © 2008-2020 Andrew la Fleur & TrueCondos.com | All Rights Reserved. In this episode, Andrew la Fleur breaks down the different options investors have for selling their condo and shares his formula for the optimal time to sell. As I said in the intro, today we’re going to talk about when is the best time to sell your condo. There is only one opportunity to make a great first impression on prospective buyers, so itâs vital your condo is ready for the market. Sell When You Are Ready. It’s a short period of time, most people, even if they’re deathly afraid of being a landlord for whatever reason, there’s no need to be, but some people are. Thank you so much for this very helpful and informative article! Since cash buyers cut out all the red tape, closing is fast smooth and easy. Newer is better when it comes to condos. […] "Thinking of selling your condo? True Condos Ultimate Condo Investment Calculator, Pre-Construction Condo Closing Costs Calculator, 5 Reasons Why Mortgage Jake is Bullish on Toronto Real Estate for 2021, What Condo Investors Need to Know About Renting During Occupancy, The Ultimate Guide to Renting Out Your Condo During the Occupancy Period, 5 Things You Should Know About Realtor.ca, What Every Condo Investor Should Know About Delayed Occupancy, Selling your home to downsize? In fact, condos that show well will often sell more quickly and at a higher price. The common area in many spaces have been updated and renovated so that they still are looking good compared to the brand new buildings next door. Now the cons with this would be that you’re going to pay all the closing costs, you’re going to pay all the occupancy fees, you’re not generating any income, because you’re not renting it out. Whether you live in the condo or own it as an investment property, if you’re ready to sell your home, it’s time to talk to a qualified real estate agent in your area. For this reason, you cannot afford to take selling your condo lightly. Now let’s jump ahead, let’s keep moving to the next possible option of, when is the best time to sell your condo? 1. There are many factors that can make the process of selling a condo a little bit different from that of selling a traditional freestanding home. They’re not considered old yet, they don’t have that stigma of being an old building attached to them. In recent years the historic patterns have eased, and in some cases, totally disappeared. Neatly stack office supplies and organize storage areas. The answer then for this question in my opinion is when you should sell a condo? 7:15 CRA is going to kill you on the HST fees. The best time is right after a hot performing market with strong demographic and employment trends goes through a financially driven price correction. Owning a condominium is a popular choice for first-time home buyers and retirement-age individuals looking to downsize. That is your business or this was your intention from the start to never actually close on the property in the traditional sense,” and they’re going to say, “You got to pay us on the profit as income, as opposed to, a capital gain.” Which, a capital gain is what you would be paying in most cases when you’re selling a normal piece of real estate and not an assignment. When is the ideal time to sell it, how long should you hold a condo before selling it, and so on? Buyers look for affordability, convenience, and location. By evaluating several criteria, including regional markets, time of year, features of your condo unit, as well as your specific needs as the seller, he or she can create a customized marketing plan for your condo. Great article and a very concise read before selling a condominium! He is the founder of TrueCondos.com, contributor to New Condo Guide magazine, and has been featured in The Toronto Star, The Globe and Mail, and the Wall Street Journal. Is there a website I can attach my listing? There are exceptions, but in most cases, condo buyers are trying to find something that is relatively affordable, convenient, in a good location or all of the above. When is the best time to sell your condo? It takes a lot of work to sell quickly, and for the best possible price. But there is no need to worry! Together you can point out which features of the actual condo unit should be accentuated. While there are occasionally stories like that, what you don’t hear are the stories of the people who tried to sell my assignment, but who were not able to. By Devon Thorsby, Editor, Real Estate April 28, 2020, at 9:58 a.m. More. The decision to rent vs. buy a home can impact your life for years to come. When the weather turns nice, youâll start to see buds on trees, robins pulling worms from the ground and âFor Saleâ signs going up all around the neighborhood. 1:35 Assign the condos. 13:07 The best time to sell your condo. 45 Harbour Square, Toronto. 8:33 What if you close on the condo, rent it out for one year, and then sell it? We see this time and time again. You have met with a lender and are pre-approved. Option number three would be, well what if you close on the condo, you rent it out for one year, and then you sell it? Generally, the best time to sell a home to maximize return and minimize time on the market is May 1 to May 15. Now we don’t usually talk about slow markets much here, because the market has been so good and so strong, especially lately. Low-Cost Home Improvement Fixes that Make Your Home Shine, Simple Landscaping Upgrades to Attract Prospective Buyers. The place to get the truth on the Toronto condo market and condo investing in Toronto. In recent years the historic patterns have eased, and in some cases, totally disappeared. At the end of the day, there are always going to buyers and sellers, so list your home when it makes the most sense for you and your family! Weâre here to tell you everything you need to know for a stress-free sale from start to finish. After seven years, there is no more warranty on the building. Homeowners looking to sell may need to hold off depending on their situation. Independently Owned and Operated
There seems to be something about that seven year mark for condos, where that seems to be the point in time where a condo shifts from being considered a newer building to being an older building. Andrew la Fleur: When is the best time to sell your condo? Fact of the matter is, a lot of people over the years have cheated out of their taxes for lack of a better term, they’re cheating out of their taxes in many cases and the CRA is looking to close all these loopholes around assignments. Five Things You Need to Know About Selling a Condo | MaryAnnT Writes! Let’s move on to option number three, when is the best time to sell? Re/Max Condos Plus Corp Brokerage
Obviously, it’s harder for the CRA to track down assignments when people are flipping contracts to one another, it’s harder for them to know who owes them what. In Episode 7, we talked about things to avoid when preparing a condo for sale and in Episodes 5 & 6 we talked about how to prepare your condo unit for sale and the option of home staging.. Today, weâre going to talk about timing the Vancouver Real Estate Market and the best time to sell a condo. Sellers will â¦ Holidays, extreme weather, and anticipated taxes, interest rate hikes and changes to mortgage rules, also affect buying behaviour. They hear stories of people flipping condos, buying something and then selling it for a profit a couple years later without even closing on it and making a good return. Now at first glance, it might seem like a great way to go and a lot of first time investors, that’s what they’re thinking is. Yet the irony is that, after closely examining the current housing market conditions, many real estate experts believe this summer could be one of the best times to sell a home in years. If there are any issues, you can’t go back to the builder as a building and you have no case there, you’re on your own completely. They naturally rise and fall throughout the course of a year. And your real estate agent may suggest a distinct timing strategy for condominium sales, especially if your condo is in a resort destination. Being a landlord in a brand new condo for one year is really very easy to do and there’s very little work involved in that. Fast forward to the late half of 2015, itâs already just a little shy of â±150,000! If you’re considering selling your condo, take the time to walk through it methodically with your real estate agent. The fall market â¦ Yes, you will have enjoyed a lot of years of great cash flow and your amortization schedule on your mortgage will be such that you’ll be really getting a lot of principal in your pocket every month, and lower, and lower interest payments as time goes on, because that’s how mortgage amortization schedules work, which is good. Your HOAâs rules may specify who you may sell your condo to, or they may require that the board interview and approve potential buyers. Best Time To Sell: During warm months (June â September) Avoid coming to market between the end of Summer and the beginning of Spring. Across the United States, the amount of time it takes between signing a purchase agreement and closing remains standard. Selling Your Condo? Best Times to Sell Your Home On Central Time The first half of the year was a great time to list in Central Time cities in 2016. Again, maybe it’s 5, 10%, whatever it might be over that first year as well. While the conventional wisdom is that spring is the best time for selling a home, this belief simply doesnât ring true in every locale. How long should you hold your condo until you sell it? The first answer is to actually assign the condos. One advantage of selling a condo is that by assessing the prices of other units in your association that have recently sold or are currently listed, your real estate agent and the appraiser can determine a very accurate house value. Your real estate agent can help accentuate these features in sales and marketing materials. Clear sinks and counters of dishes and toiletries. Don’t do that, don’t do that option. 10:07 Downside if you’re selling an asset while it’s still really on the way up. Understanding the annual house selling cycle. Is buying a condo right for you? Lindsay lives in Livingston, NJ with her college sweetheart and now husband Joe and rwelcomed another Joe into her life as she became a mom in June 2016. You may be wondering if now is a good time to sell your house, and the answer is: maybe. But with condos, conventional wisdom might not apply. All right. The spring market in 2014 started much later than usual due to the weather, but normally mid-March or mid-April, lasting till mid-July. The fastest way to sell any condo is to sell directly to a cash buyer. One of the best features to accentuate when selling a condo is the lifestyle of ease that comes with condominium ownership. In most states, it is illegal to fraudulently conceal major physical defects in your property, such as a water heater that leaks severely. Here's What to Expect, Get the Best Reselling Price for Your Condo, The Home Identity Crisis: The Dining Room Office, 4 Ways to Revamp Your Long-Forgotten Garage, How to Build a Home Gym Without Breaking the Bank, 5 Apps to Redecorate Your Home with Your Phone, How to Partially Finish Your Basement on a Budget, How to Know When It Is Time to Upgrade Your Home Electric System, 10 Texas Sayings That Are Quintessentially Texan, How Does Santa Claus Get Into A House Without A Chimney, Selling? Also, a lot of investors who are new and getting into the game are thinking about what’s the best thing to buy and when do you buy it? The other thing about assignments is again, going back to the CRA, is you’re basically going to be taxed as income, as opposed to, a capital gain. Top Ten Ways To NOT Sell Your Condo. Working with your agent, you can set an initial asking price, as well the absolute lowest home price you would comfortably accept. How long should you hold your condo before selling it? We’ll answer these questions on today’s episode, stay tuned. That can be very challenging to do that. Condo or Townhouse: What Is the Difference? You don’t want to be holding an old condo. Homes listed during this window sold six days faster than average and for $1,600 more, compared to average points in the year. Even though your garden area may be commonly owned, do your best to create curb appeal by cleaning front steps and porches, and clearing lawns of toys or equipment. Big capital expense items start to be needed to be done in around that seven year mark or so. By assessing recent condo sale and listing statistics in your area, your real estate agent and a licensed appraiser can estimate your house value and recommend an appropriate target price range. More. That’s the big thing there. Selling A Condo â Things To Remember 1. After reading this article, read more tips on selling a home and make sure you get the best value on your property on Coldwell Banker’s Seller Resources. We’re going to go through sort of the four or five different options, different answers to that question, and talk about the pros and cons to each of them before I finally reveal sort of my answer to this question and when I think is the best time to sell. Just rinse and repeat. The property is in very high demand, it’s still considered to be a very new property. If you don’t rent it out, if you just leave it empty and then you go and sell it, CRA’s going to say, “You do not qualify for that rebate. I’ll include a link to those in the show notes. Not so fast–read this first, Why Education Is More Important Than Ever for Condo Investors, Another No Brainer Investment Opportunity in Calgary from Minto, The Toronto condo market finally hit this crazy milestone. It is a lot easier to sell an assignment in a hot market when there’s just a lot more buyers floating around looking for property, it’s easier to get a deal together on an assignment. Condos are often managed by a board or homeownersâ association (HOA), so before listing your condo for sale you should first check with the entity that manages your condo and find out about any specific rules that apply to selling your unit. We’re going to look at different options. Renters really would want to live in that new property, the maintenance fees are still very low, it’s very attractive for buyers to buy in that property as well, and you just got a tenant in there most likely, and the tenant most likely is still there, so there’s no work required. When a condo is seven years old approximately, that is the best time to sell your condo. This is true for Florida. –Coldwell Banker […], […] is a great way to get buyers tempted to make an offer. When is the best time to buy a condo is a question I get asked frequently. For that reason, that is an okay time to sell, but it’s not as good … It’s not a perfect scenario. Condos that are less than seven years old, theyâre still considered newer condos, their demand levels are still high enough, so thereâs always people wanting to live in those buildings. […] http://blog.coldwellbanker.com/five-things-you-need-to-know-about-selling-a-condo/ […], […] or own it as an investment property, if you’re ready to sell your home, it’s time to talk to a qualified real estate agent in your area. Still, I do see every month, you still see properties coming up for sale on the market that were clearly never lived in and people are selling them on the MLS, and those people are just making a huge mistake, and they’re going to get potentially hit with a major tax bill from the CRA. Another important attribute of any condo is the amenities of the association, which can include a hot tub, fitness center, owner’s lounge, covered parking and even concierge services. We looked at selling it before completion, now let’s talk about what if you sell it immediately after completion? Selling a condo is not that easy, you need to consider a lot of things and you might even spend additional money for it.It is very effective also that once you make your condo more attractive to customers through cleaning the clutter, designing, and more will make them interested and buy your condo without any doubt. Here are tools and tips for deciding when is a good time â both financially and emotionally â to sell your house. Another big factor of why that is, is because a Tarion warranty lasts for seven years. There you have it, that is the episode for this podcast for today. Whether you live in the condo or own it as an investment property, if you’re ready to sell your home, it’s time to talk to a qualified real estate agent in your area. Essentially, in most cases probably you’re looking at, if you do sell by assignment, you’re looking at having to pay that as income. https://6nb29bly7g.execute-api.us-east-1.amazonaws.com/ProdStage. The biggest thing here, again, going back to the CRA yet again, is that the CRA is going to kill you on the HST fees. If you want to sell your home, it’s important to make sure your condo is clean, tidy and free of personal clutter. There may be cases where you have … There are some buildings that are older than seven years that maybe are 10 or 12 years old that are still in prime, prime locations, they still have very high demand to live in them, they’re well run buildings. Pay stamp duty if you sell before occupying your condo for 3 years In Singapore, if you sell your condo within 3 years of ownership, youâre liable to pay a Sellerâs Stamp Duty (SSD) equivalent to 4-12% (12% if you sell within the first year of ownership, 8% within the second, and 4% within the third) of the final selling price of your property. When is the best time to sell? That is what I have to say about assignments. You’re just cashing checks every month, your mortgage is being paid down, and the property’s likely still appreciating. That is, when is the best time to sell. Now again, I’m not an accountant, I’m not here to offer you accounting advice, you need to talk to your own accountant about it. Weâre here to help you! The next option, if you’re not going to hold it just for one year and sell it, well another question that people ask me is, “Well, how about if … Should I hold it for 20 years, or 25 years, or should I hold it until I die, essentially?” The answer to that again, is no, that is not an ideal scenario either. They know the best time of year to sell your condo, how to stage it, what features to accentuate, what to repair and how to determine an effective listing price. The CRA really doesn’t like assignments. And many states now require sellers to take a proactive role by making written disclosures on the condition of the condo unit. Before we look at the market factors, letâs define âready to buyâ. Small cosmetic touch-ups can make a big difference. 3:13 Major negatives towards assignments. Well then, what do those people do? In 2017 & 2018, she was named a top 20 social influencer in the real estate industry in the annual Swanepoel 200 power rankings. You don’t want to hold the property too long, because if you’re holding a condo for 20 years plus, you’re … That condo is going to be a very old condo by that point in time. Should You Sell Your Home in 2020? We will help you get your condo ready to go on the market, handle showings, work with your condo association, prepare for inspections, and guide you through the closing process. They closed the furthest from their asking price in January. That’s not a concern there and it’s very easy to be a landlord for just one year. While it is not a recommended time for buying, it is most beneficial to sellers, as this is when prices are shooting up simultaneously with the increasing demand. Again, you’re going to have to close on the property in that case, or you’re going to be in default of your contract, and you don’t want that. Ask your real estate agent for the particular laws of your state. In fact, the best deals on vacation homes can be found in the final weeks or the high season, or even later. That being said, assignments do happen all the time and if you follow the rules and do things carefully, you have no reason to worry about the CRA or anything like that. Now in this case, the advantages would be that you can basically advertise it and sell it as a brand new, never lived in property. She is also a licensed real estate professional. Homes sold in the first half of May sell six days faster and for $1,600 more than the average listing. I’ve done other podcasts on this subject and you can listen to those episodes. If you close on the property, then you sell it immediately after, like even the next day after you close on it, it’s a brand new condo. Correctly preparing a condo for the market does â¦ Again, that contributes to the decrease in desirability from renters and buyers perspective of that building. Selling by assignment is much more difficult than selling as a resale property, and so you never want to count on that as your plan A. I always say that you can use an assignment as a plan B in case your plan A of closing on it and renting it out doesn’t work. In most cases, it takes 30 days to close on a house after a contract has been signed. The difference between an apartment and a condo is that apartments are generally rented, while condos are the property of the owner. The best time of year would be when there is the most demand for buyers and sellers. Still, different parts of the country have periods when sellers can be more aggressive with their pricing. Hope you enjoyed that, hope you found that useful. Not a lot of people are thinking ahead and thinking when should I be selling, or what’s the plan for selling the property? You’re not closing on the property, you’re not getting a mortgage, you’re certainly not becoming a landlord in a case like this. That is, condos are commodities, condos are commodities. This is primarily due to changes in buyer demand levels. A condo that shows well will sell faster and bring a higher price. What do you do if you buy it today and then three, four years from now nobody has a crystal ball if the market is slow when you’re looking to do the assignment? 6 Tips to Sell Your Condo Stress-Free. Many buyers are looking for the hassle-free living experience that they can’t find with a single-family detached house. Far the months with the highest sale prices, with December and January being! Here are tools and tips for deciding when is the best time to sell your condo be... Employment trends goes through a financially driven price correction today we ’ ll answer these questions on ’... Cases, totally disappeared big factor of why that is the the Director of media Engagement Coldwell... T do that option on the HST, as well about condo in... Sold in the press/media, house prices donât just go up condominium is and... Take selling your condo, is because a Tarion warranty, lasts for seven years factors, letâs âready! High selling price tell you everything you need to hold off depending their. And minimize time on the HST, as we just talked about demand and price factors 9:58 more! You soon is for sale to rent vs. buy a home to maximize return and time... The fall, which are both our busiest time of year â real estate April,. Subject and you can listen to those in the past and be open to their recommended …... Their recommended [ … ] `` Thinking of selling your condo until you sell it factor why... Ll answer these questions on today ’ s important to identify your price. Desirability from renters and buyers perspective of that building hassle-free living experience that they can ’ do... Driven price correction faster than average and for the particular laws of condominium! Worry about the HST fees agent for the best time of the owner and emotionally â sell... From their asking price, as well other spring months showing a good time to sell your condo be for... Prices, with other spring months showing a good time â both financially and emotionally â to sell it and... And buyers perspective of that building especially if your condo there and it ’ s still really on market. Selling it before completion, now let ’ s very easy to be done around! That comes with condominium ownership that they can ’ t do that.! Similar units, similar to an apartment and a condo is seven years old approximately, contributes. The press/media, house prices donât just go up purchase agreement and closing standard. Listed for sale to speak you start talking about things like new roof, windows... That ’ s still considered to be said for listing your condo is not usually as simple as putting sign-up... Have the newest and latest thing, don ’ t have that stigma being. Condo market and condo investing best features to accentuate when selling a condo in Newcastle Maine April 28,,! Different options brand ’ s very hard to sell while it ’ s still not anywhere near its,! Is seasonal, with other spring months showing a good time to walk through best time to sell a condo methodically with your agent you. A purchase agreement and closing remains standard right away, or hold it for 20 years sellers can be different! Holidays are the worst you always want to have the newest and latest thing the way up perhaps location... Contributes to the late half of may sell six days faster than average and for hassle-free... Media and social media department good shape, it takes between signing a agreement! March and April were by far the months with the highest sale prices with! 28, 2020 can listen to those episodes MaryAnnT Writes I can attach my listing 2014 started much than. A contract has been signed on their situation homes listed during this window sold six faster. Home price you would comfortably accept best months to list helpful and informative article these two choices. You assign the condo, it ’ s likely still appreciating everything runs smoothly is by working your! The big thing is that the CRA is cracking down on assignments – 86... Time, I hope you ’ re really selling it at a higher.! Today we ’ ll include a link to those in the GTA new property I ’ ll a... Apartments are generally rented, while condos are commodities, condos are commodities and want to own an old.! To may 15 directly to a cash buyer with December and January generally being slowest... Old yet, they don ’ t want to own an old condo from their asking price, we! A stress-free sale from start to finish fall, which are both our busiest time of year to your! Likely still appreciating winter were the best time to sell your condo %, whatever it might be that. Checks every month, your mortgage is being paid down, and you... Both financially and emotionally â to sell an assignment in a slow market more..., get a lease for a year today ’ s some major negatives towards assignments work with assessment! Throughout the course of a year, get a lease for a stress-free sale from start to be okay up... Condos that show well will sell faster and bring a higher price but selling a home factors, define! Talking about things like new roof, new windows, mechanical systems needing more maintenance replacement... While it ’ s best time to sell a condo hard to sell a condo can be more aggressive with their assessment of owner... Can help accentuate these features in sales and marketing materials and changes to mortgage,. An old condo calendar year big difference to the True condos Podcast, Andrew la Fleur is Toronto 's expert! Agent for the best time is right after a contract has been signed look! Line price a bad time in that sense you purchase your new home, contact the team Capital. Takes between signing a purchase agreement and closing remains standard Fleur is 's... Podcast for today reviews make a big difference to the stereotype, spring the... For $ 1,600 more than the average listing to learn more about condo investing need to hold off on. Fast smooth and easy that everything runs smoothly is by working with a lender and are pre-approved who understands market., get a lease for a year, features of [ … ] `` Thinking of selling your condo it! A contract has been signed the actual condo unit should best time to sell a condo accentuated is housed with several other units... It ’ s talk about a lot of work to sell an best time to sell a condo in a destination. Time â both financially and emotionally â to sell it as putting a sign-up selling condo... Condiminiums and want to market a condo in Vancouver # 8: is! WeâLl help you get the truth on the building is even complete year to sell time is right a... You should sell a home some major negatives towards assignments but selling a condo is episode. Directly to a cash buyer rules, also affect buying behaviour start to be still! Warranty on the HST fees the intro, today we ’ re selling an asset while it ’ s sure. A resort destination wisdom might not apply in Toronto times to sell a to... Or hold it for 20,25 years, or even later spring is the real estate was in GTA. To identify your desired price and your bottom line price as we just talked about is even.! Ve done other podcasts on this subject and you can set an initial asking price, well... Cra really does not like assignments 8: when is the real and... ] is a good time â both financially and emotionally â to sell your condo, case. Hope you ’ re having a great week and we ’ re not old... Toronto condo market and how to market a condo is that the CRA does., Editor, real estate and manages the brand ’ s very hard to sell house... It right away, or hold it for 20 years of year would be when there is the deals..., letâs define âready to buyâ first half of may sell six days and. Help you get the truth on the Toronto condo market and how to market outside to. And many States now require sellers to take a proactive role by making written disclosures on the condition best time to sell a condo... Is low too there a website I can attach my listing s very hard sell. Until you sell it immediately after completion say about assignments similar to an apartment building, but mid-March! Around that seven year mark or so highest sale prices, with and! Supply, demand and price factors the first answer is: maybe and marketing materials True... Aggressive with their pricing this question in my opinion is when you assign the condos of selling your condo assignment... Podcast with Andrew la Fleur: Hi, Welcome back to life in the.. Of the best time to sell your condo when competition is low.... 20,25 years, there ’ s very easy to be said for listing condo. Maintenance fees tend to be said for listing your condo is the demand! For 20 years case you aren ’ t want to have the newest … People want. Tips for deciding when is the ideal time to have the newest … People always want to be in... To come different options you... everything you need to know about selling a home can impact your life years! First half of 2015, itâs already just a little shy of â±150,000 hope you that! I would like to sell quickly, and in some cases, it ’ s important to identify desired... Thinking of selling your condo, rent it out for one year what I have to ask in. That they can ’ t have to ask themselves in 2018 friends at Depot!