When you're getting ready to sell a home, it's important to perform many of the same steps that you would if you were selling a single-family home — namely, cleaning the unit, decorating it tastefully, and fixing anything that needs it. However, you should also go the extra mile by providing details about your homeowners associate. HOAs, are they're commonly known, are a fact of life for many condo owners, but you can't count on each prospective buyer being experienced in this matter. When you prepare material for your online listing, you should make sure that these details are clear:
How Much You Pay
One of the biggest things that prospective buyers will want to know is how much money you pay for your homeowner's association fees. Because this number can vary significantly, it's important for people to assess before they consider making an offer on your condo. Condo owners don't just have to think about the mortgage payments each month — they also need to consider HOA fees. Include any applicable details, such as how often your fees are due and whether they're locked in for a certain duration or they go up annually.
What Your Fees Cover
It's also valuable for you to clearly explain what your homeowner's association fees cover. Prospective buyers will want to know this information so that they can make an informed decision about your listing, as well as evaluate the details of other condos for sale in the area. Homeowners association fees can cover a variety of different things, including landscaping, snow removal, and the beautification of common areas on the condo's property. In compiling this list, it can be useful for you to briefly list the things that the HOA fees don't cover, too.
By remembering the fact that not every prospective buyer will be adequately acquainted with homeowners association fees, you can make your real estate listing more valuable by including other details that you feel are relevant. For example, you might note that the HOA has monthly meetings and elects new members of its board of directors every January. If a prospective buyer is keen on joining the board, this information can be valuable for him or her to assess the timeline of getting a deal done. In addition to providing this information in your listing, it doesn't hurt to write out the details and provide them with handouts left at your open houses.