Townhouse living has many benefits. Defined as a home that shares one or more of its walls with neighboring units, townhouses are typically less expensive to purchase than comparably sized single family homes. In addition, their shared wall design can offer their owners a more efficient heating and cooling experience, as well as other benefits. But when the time comes to sell a townhouse, owners should also know that the process will be somewhat different that the sale of a single family home. If you are an owner with plans of selling, the following tips will help you more easily navigate the steps of your townhouse sale and enjoy a more success selling process.
Start with your HOA for helpful information
Home owners associations (HOAs) usually have specific rules that must be followed when an owner decides to sell a townhouse in a development they manage. For example, many HOAs have specific requirements as to where and how for sale signs and marketing materials can be displayed. Many may also have specific time frames for viewings or parking requirements for visitors that may affect prospective buyers who come to view the home.
Your HOA is also the place to get specific information that prospective buyers will want, such as a cost breakdown of maintenance fees and the yearly schedule of when this work is done. While HOAs will usually give buyer agents and interested prospective buyers a sum total of these fees, owners are able to request and receive an itemized fee list that will offer more detailed information.
Choose an agent with townhouse sales experience
Your townhouse HOA can also be helpful when you are ready to select a real estate professional to assist you in the selling process. Most maintain records of previously sold units in the development, along with information about the seller, selling price, and the agent or brokerage that assisted with the sale, as well as a list of those homes that are for currently for sale.
Using this information can shorten your search for the right real estate professional by illustrating which agents and brokerages are most active in your development. Owners who choose to partner with a real estate professional with significant experience in listing, marketing, and selling townhouses can benefit from the additional experience these agents provide.
Once you have this list, make plans to interview at least three of the most successful agents on it. In addition to looking for signs that the agent will be able to maintain good communications with you when selling your home, also remember to ask about specific marketing details that they have used successfully in the past, as well as any challenges they feel your home might have and how they would propose addressing them.