Selling a Condo in Central Square
If you are thinking of selling your condo in Central Square, one of the most important areas I see other agents and owners miss is your HOA! You need to have a clear understanding of what’s going on with your HOA before you begin listing your property.
And I know from experience that many of the condos in the Central Square area of Cambridge are in larger buildings with lots of stuff going on. And if you don’t proactively gather this information PRIOR to listing your property, you run the risk of an HOA bomb blowing up in your face.
Here’s how it can often play out. You or your agent list the property without doing any homework on what’s been going on in your HOA.
After a week you receive an accepted offer with a condo doc review contingency. The buyer’s attorney starts looking into the condo docs and discovers there’s a special assessment OR in fact their client is NOT allowed to have their pet dog Spot live in the condo OR an existing condo owner is suing the trustees.
The next thing you know, you get a call from the buyer’s agent or from your agent and you learn that the offer is off the table. Now you need to disclose this information to future prospective buyers. But buyers also see that the property has now been listed for a while and came back on market.
Buyers smell blood in the water and you start getting insane low-ball offers. The property sits and sits and ultimately you end up at a much lower price than your neighbors in the same building!
Don’t be this person - work with a seller agent who knows all the bombs and can diffuse them FOR YOU before you even begin the listing process. If you are thinking of selling your Central Square condo but don’t know where to start give me a call! My cell is 617-833-7457.
Recent condos I’ve helped clients sell in Central Square:
45 Lee St, Unit 1: My client had lived in her condo for decades and was not up for extensive staging or fixes. It worked out that her unit was well maintained and beautifully decorated. We priced the unit right and drew in well over 50 visitors. Ultimately we received over 10 offers on this one and broke a record for a 2-bed 1-bath sale in Cambridge at the time, going for a wild $1.1M!
2 Chestnut St, Unit 2: My client had an extensive real estate investment portfolio and as his kids were getting older he was looking to downsize. When a renter decided not to renew, we worked together to properly prepare and market the unit and ultimately were able to sell this unit in one weekend for a solid asking price. With proper cleaning and prep, were able to market to both investors AND owner occupants and the ultimate buyer was an owner occupant who is happily living in the unit as of this writing!
143 Pleasant St, Unit 382: My client had a rare affordable unit in Cambridge and had found love out-of-state. They were feeling anxious about selling an affordable unit and had no idea how to begin navigating the process. They hired me to take care of the entire process for them - I worked closely with the affordable housing department for the city of Cambridge and we ensured the process was followed to a T. The result was a one week sale, no stress or anxiety for the seller, and a quick and seamless move out-of-state!