CondoAdvisory Blog

Selling in today’s market is difficult enough, but if you are trying to sell to an investor it is even more difficult.

With the presumption that the market still has a way to go down yet, most investors feel that there is no point in buying yet as even though there are some good deals out there, they will probably get better. Essentially they are trying to time the market which is next to impossible, but it does seem that it is likely not the bottom yet.

As such, if you have a investment rental condo and you are tying to sell it right now, one of the only ways it is probably going to get done is if it is priced very well, which means below market value. The buyer is going to consider the fact they feel the market is going to drop X% so they are going to want to pay X% less than market value to take out that risk. If you really want to sell you may have to be more flexible on your price an just get it done. The obvious risk is that you undersell, but the upside is you may get a return now that you will not get in six months.

Bottom line, you must decide your motivation to sell and take offers seriously, there are probably not a lot of them out there so it is best to work any one you get.