When you sell property in a planned community, there are special considerations and some extra work. Selling the community helps sell your unit. Before meeting with your agent, gather general information about the development, as well as any special required items for the MLS listing.
When you sell property in a planned community, whether it's a house, townhouse or condominium, there are special considerations and some extra work. You're marketing the community, as well as your unit, and because the community is competing against others in your area and elsewhere, it will be scrutinized carefully. If the builder has colorful marketing materials, display them for buyers.
Features of the Community Buyers Will Evaluate (Tangible and Intangible)
- Age, location and reputation, and that of the builder(s).
- Types of properties offered, and the price ranges.
- Eligibility requirements, such as a single buyer or one of a couple being age 55+.
- Convenience to shopping, recreation and various forms of transportation (freeways, airport, public).
- Amenities or special features (golf course, dining room).
- Controlled access, if any.
- Quality and style of construction.
- Quality and maturity of landscaping.
- Quality of maintenance.
- Social groups and activities.
- Perceived quality of life and ambience.
- In older developments, percent of units with full or partial updating.
- Condition of original buildings and improvements.
- Recent or planned renovations.
- Plans for further construction (older units will compete against new ones).
- Sales history and trend of property values.
Information to Give Your Agent
Your agent will need some or all of the following items, as applicable, to prepare the MLS listing:
- Age of your house or unit, as it could differ from others in the community.
- Name, mailing address, phone number, web site and email address of the management company, and contact person.
- Name, address and phone number of the president of the homeowners' association.
- Minutes of the association meetings for the past year.
- Amount of the regime fee, and when it is paid (monthly, quarterly, yearly).
- Details of what the regime fee covers. (varies widely).
- Details of any assessments, including date, amount and purpose.
- Details of any outstanding assessments currently due.
- Summary of coverage - master insurance policy.
- Copy of the Covenants, Rules and Regulations.
- Full details of pet regulations, including number and type allowed, and the weight limit, if any.
Smart Selling Tip:
Selling the community helps sell your unit. Before meeting with your agent, gather general information about the development, as well as any special required items for the MLS listing.
©2010 Mary Stephens and Sandy LeRoy
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