Selling a property is something you’ll have to do maybe just a few times in your life. And unless you know a local Orange County real estate agent who will sell your condo for free or a hugely discounted commission… it can be a real pain in the rear and an expensive process for you as well.
So… you landed on this page about “How to sell your condo by yourself in Orange County CA” for a few reasons…
- You have no or very little equity in your condo so you can’t afford to pay a real estate agents’ commissions
- You have equity but want to try to save money selling the condo yourself before you resort to hiring an agent
- You’re in foreclosure (or heading that way) and just need to sell fast without incurring even more cost in agent commissions
- You can’t wait the months and months it sometimes takes to sell a condo in the Orange County area so you want to try to sell it more quickly
Whatever one you land in… there are ways to sell your condo yourself here in the local Orange County real estate market.
Since 2013, the housing sector has been experiencing a major recovery. Selling your condo at this time will definitely be profitable if you do it right. In most cases, it is about using smart marketing strategies and being realistic about your expectations on what you want to achieve with this sale.
This article will provide some guidelines to help you sell your Orange County area condo yourself.
How to Sell your Condo by Yourself in Orange County CA – Let’s Dive In…
Know The Orange County Real Estate Market Well
The first and most important step is doing a market research on your neighborhood in the Orange County CA area. This step involves visiting various home marketing sites (Zillow, Eppraisal the Chase home value estimator, etc), calling a real estate agent or two to see what your property is worth, or reading about the various market pricing techniques.Proper homework on these issues will allow you to come up with a right price for your condo and also helps you to avoid making certain selling mistakes.
If you don’t want to hassle with trying to come up with a property value yourself… give us a call at (714) 576-6282 and we’ll give you an honest fair valuation of what your condo is worth on the retail market (if you’re going to wait the 3-6+ months to find the perfect retail buyer). And if you want to… we’ll make you a fair all-cash offer on your condo to give you that option of selling quickly (we can close in as little as 7 days if you want to).
Asses the market
This step is almost similar to conducting market research, only that in this case, you are bound to your neighborhood and similar condos. Are there lots of properties for sale in your neighborhood? If so, what is the average that they are listing for? Are there lots of foreclosures in your neighborhood? That may drag your condo price down.
Asses the property
As a seller, your condo should be in top condition or shape in order to sell at a good price. Identify certain unique characteristics about it and emphasize them during the marketing. For example, in a Orange County, a condo with a garage might be more appealing to a buyer than an open parking lot.
Also, does your condo require repairs? Does it need to be repainted inside or out? How is the condition of the roof? Is the landscaping in good shape? Is the condo outdated at all? (you know, those popcorn ceilings ;-). All of these things can make the property more attractive or less attractive depending on the buyer… which changes the price they’re willing to pay.
After all of this… come up with an asking price for your Orange County property that is fair… one that isn’t so high it’ll take you 12 months to sell the condo, but is attractive so you get a frenzy of buyers who are ready to buy it quickly.
Use Photos or Videos
Today’s buyers are obsessed with media. Taking walk-through videos of the condo and using the videos to advertise will enable you to reach a wider market. In fact, these videos are considered more transparent than taking photos. However, this should not stop you from using the latter option since it is more affordable compared to the video.
So take some great pictures. Take a picture of every room in the condo that helps show it off. Take a picture of the condo from the outside in a few different angles… people want to see the house condo they ever show up to see it, so having great pictures of your property online could be the difference between getting the right buyer quickly… and waiting months and months to sell.
Get Your Condo “Listed” On The Local Orange County MLS And Market It
You can find no or low fee real estate brokers these days who will charge you a few hundred bucks to put your property on the local Orange County MLS. This gets your condo in front of all of the real estate agents quickly (so be prepared to pay those “buyers” agents a 2-3% buyers broker fee if you plan to have their support in helping you find a buyer.
Place ads in the local newspaper, signs on the roads, and hold an open house.
All of this Sound Like a Lot of Work to Sell Your Orange County Condo Fast by Yourself?
It can be.
And in the end, many Orange County sellers think they’re saving money and time by marketing the condo themselves… when in the end it costs them more money to go that route.
When you sell your own condo here are some things you need to consider…
- If you’re not a good marketer or aren’t ready to spend a bunch of time marketing your condo right… selling it yourself may not be your best bet
- If you don’t do a good job preparing the property and the marketing materials… and working with buyers to really build the value of your condo in their minds… you may actually sell the condo for 3-8% less than you may get for the same property than if an experienced person had marketed the house for you
- Too many sellers never think about holding costs or opportunity costs… every month that your condo doesn’t sell means another mortgage payment, tax payment, insurance, utilities, etc. If your mortgage payment is $1,500/mo… and $1,300 of that is interest… if it takes you 7 months to sell your property.. that cost you an extra $9,100 (not to mention taxes and insurance you paid during that time). So, if you were able to sell that condo more quickly… would it make sense for you to provide a buyer a discounted price today so you can close quickly and move on? Something to think about.
If you’d rather not put up the hassle of trying to sell your Orange County condo yourself and would rather just sell it quickly for a fair price without paying any commissions or fees…
… here at Fast Condo Buyers we actually buy condos.
We’d love to make you a fair, NO OBLIGATION and NO HASSLE cash offer on your condo.
We can close quickly (in as little as 7 days if you wanted to)… which would save you thousands of dollars vs. trying to sell the condo yourself and waiting for months.
Also, when we buy local Orange County condos we do all repairs that are needed (we pay for it ourselves) so you don’t have to worry about that.
If you want to see what we can pay for your condo, give us a call today at (714) 576-6282 or just fill out the quick simple form through the link below.