It is rare to sell a Beacon Hill condo that is in perfect condition, but putting a  Boston condo on the market becomes much trickier if it has structural issues. From my experience selling Boston condos in the historical part of Boston its no uncommon that structural issues have arisen with the roof or walls that may scare away potential condo buyers in many cases. However, you do not necessarily need to spend a lot of time and money fixing structural issues before you try to sell your condo. It is possible to sell a condo with structural issues by following this advice.

Be Up Front with Potential Buyers

If the issue is not immediately noticeable, it may be tempting to just avoid mentioning it altogether. However, keep in mind that a home inspection will most likely bring these issues up, so trying to hide your structural damage will just result in a longer sale process, buyers dropping out, and a bad reputation for you. Therefore, it is necessary to be honest with buyers about structural issues. There are still plenty of people willing to buy a Beacon Hill condo with structural damage, and letting them know about it in advance ensures you get a buyer who is fine with the concept.

Get Advice from an Expert

Even if you do not plan to repair the damage yourself, it is a good idea to get it looked over by a professional who has experience fixing the issue in question. After having the issue looked at, talk to the buyer about the potential time and cost for repairing it. Depending on what the expert finds, you may be able to reassure the buyer that the damage is not as serious as it appears or let him or her know it is not affecting other parts of the condo.

Know Your Rights as a Condo Owner

Depending on the type of structural issue, you may not need to pay for repairs yourself.  Boston condo associations are typically responsible for fixing exterior issues with their properties. Read up on your condo agreement and local real estate laws to see if you can get your condo association to pay for the repairs. Even if you do not have the time to get it repaired before selling, potential buyers will be more enthusiastic about purchasing if they do not need to fix the issue themselves.

Lower Your Asking Price

One of the best ways to generate interest in a condo with structural issues is simply to drop the asking price. Talk to your real estate agent to figure out a reasonable price point. You will likely need to factor in the cost of repairs and the hassle of fixing the condo when trying to find a good asking price. Though you will not make as much money, this is the easiest way to sell a property with structural damage.

Whether you’re selling a Beacon Hill condo or are looking for high rise condos it’s important to consider how structural damage could affect the transaction.

Please call me if you have any questions at 617-720-5454.

Boston condos

Author Profile

John Ford
John Ford
EXPERIENCE

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs



In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.



HISTORY

For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

Comments

comments

Call Now