For Sellers
Thinking about selling your property in Jackson Heights? Two key concerns for sellers are:
1. Underpricing – no one likes leaving money on the table
2. Overpricing– a concern of being on the market for too long and losing money as a result.
What are buyers concerned about?
1. Overpaying – it signals bank undervaluation concern, and overarching concern of paying too much.
2. Stability of Investment
5 Items Coop Sellers Must Prepare
Coop Sellers are often caught off guard when asked to produce documents routinely necessary to insure accuracy of listing data and buyer due diligence.
5 Items Sellers Must Prepare:
- Copy of monthly maintenance bill
- Copy of Stock Certificate
- Three years of building financials
- Offering Plan
- Contact information for the Managing Agent/Company of the building
Accuracy and availability of data, even if verified by attorneys prior to contract signing, helps speed the process and elevates consumer confidence.
Prepare Property For Sale in 15 Easy Steps
We are often asked by our seller clients for suggestions how to prepare property for sale. More often than not, the most effective things are very inexpensive or free of cost to implement. We have compiled a highly condensed list in the order of effectiveness.
FLOORS
Floors are often the first thing buyers see before they raise their heads to view the rest of the property. We understand that many buildings have carpeting requirements or that certain area rugs are essential to match the esthetic of the owner’s décor. However, keep in mind that the property is now for sale, and buyers need to be able to clearly see what they will be purchasing.
Show Your Best Floor: If you have an area rug or a wall to wall carpet covering a beautiful hardwood floor – get rid of the rugs. This is especially essential in vacant apartments. Carpeting over quality hardwood floors diminishes value perception.
Minimize Items Taking Floor Space: be judicial as to which items taking up your floor space are necessary for your day to day for the next three months. Less items you have on the floor, the better the property will show.
WINDOWS
Especially during daytime showings, windows draw the eye like no other item in a property. Here are items that can be easily addressed:
Window Treatments: Unless you have beautiful window treatments that add value to your window frame – remove them!
Window Glass: More often than not buyers are turned off when seeing dirty or fogged up windows. In some cases basic cleaning will resolve this problem, in others glass replacement is recommended. New glass can cost between $150-$200 per window to replace – yet this improvement will dramatically change buyer perception.
Window Sill: Window sills often take a beating over time, it is important they are well cleaned and patched as needed.
Window Frame/Mechanic Parts: Some window frames take significant wear, and the mechanism that holds them up when open or opens them up for cleaning is often rusty or damaged. Repairs may often become a condition of your sale, or if negotiated out of the contract may produce lower offers.
KITCHEN
It is often said that kitchens sell apartments. In some cases this is true, but what we find that sells kitchens is overall cleanliness clutter free space.
Declutter – extra kitchenware, fridge magnets, decorative items taking up counter space etc. can be boxed up.
Show Your Plumbing – no one wants to sift through a wall of cleaning products or plastic bags under the sink to see what the plumbing below looks like. Clear the way, and if plumbing below looks questionable or leaks – have a plumber look at it before going on market.
Tighten All That’s Loose – hinges, handles, faucet parts – all can be tightened.
Fix All That’s Leaking – leaky faucet or a pipe can give a very bad impression and have impact on value. Make sure it’s fixed before going to market.
Mind Your Sprays – be selective as to which cleaning or other products you show your potential buyers. Quantity of cleaning products can also be addressed, in effort to decrease clutter you can opt to keep the essentials and box the rest.
LIGHTING
Install Highest Wattage Bulbs Your Fixture Can Handle – artificial lighting should make maximum impact when turned on during showings.
Clean and Dust All Your Light Fixtures – this is an item often missed since fixture dust if often out of sight. Buyers seem to zone in on them, and if they see clean fixtures it sends a message that it’s a well kept property.
COLORS:
Your belongings and fixtures are your own pallet, but when it comes to the wall color ideally you’d want to have –
Mat Finish Walls – mat finish is less likely to showcase imperfections
Light and Neutral Colors: light colors bounce light instead of absorbing it, hence making a property brighter and showcase natural light that the property actually gets and open you up to a wider buyer pool.
PS. If you are still occupying the property and need help keeping it consistently clean and neat, consider hiring a weekly cleaning service. They average $75-$100 per cleaning.
We hope that you find these suggestions helpful and easy to implement. We are happy to provide individual consultations on this subject matter as well.
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