Plenty of sellers think they are ready to sell, until they actually find a buyer. Once a seller has entered into an agreement to sell, withdrawing from the sale could result in legal action should the buyer sue for breach of contract. If any of these things are true, you might be jumping the gun by listing your condo.
1. You’re Still Emotionally Attached
When listing your condo in downtown San Diego for sale, there can be major emotional considerations involved. The thought of packing up, moving out, and allowing strangers to live there could spark panic, along with a million other emotions. In this case, it is better to hold off and list the property when you’re fully prepared to move on.
2. Your Desired Price Is Greater Than 10 Percent of Market Value
The first weeks that a condo is listed is when it receives the most action. If your listing price is too high, it could sit on the market for months and become a stale listing, which might make buyers think something is wrong with your place. Furthermore, the longer your property is on the market, the more likely buyers are to negotiate an undesirable selling price.
3. There’s Potential for Higher Profit
Regardless of whether you recently purchased your condo or have had it for a number of years, the downtown San Diego real estate market is constantly changing. If there is a prediction of increasing market values, it is best to wait until your property value will increase, leading to a higher profit.
4. You Haven’t Thought of an Exit Strategy
If you don’t have a realistic plan in place for moving out, it might be smart to hold off on listing. Without a plan, you could find yourself in a real pinch if a buyer wants a short close. If you can’t afford to carry two payments while waiting to sell, consider packing up and storing nonessential items and be ready to move into a temporary space on short notice.
Whether you’re selling, buying, or both, our trusted and experienced real estate agents in downtown San Diego can help! Check out our online inventory of downtown San Diego lofts and condos for sale and give us a call today at (619) 649-0368 to schedule an appointment! We look forward to hearing from you! ')}