Business & Finance Bankruptcy

What Needs to Be Done to Sell an Apartment?

    Market Research

    • Learn about the apartments in your area that sold within the past six months by contacting a real estate agent. Important aspects to consider are the apartments' original asking price, the price for which they sold and the amount of time they were on the market. This research will give you a good idea about the value of your apartment. If possible, try to find the same information about the apartments that recently sold in the same apartment complex as yours. It may also be beneficial to find out about apartments that recently sold in apartment complexes near yours, or even in neighboring areas. When comparing apartments that sold, make sure they are similar to yours in square footage and the number of bathrooms and bedrooms. One of the final things to consider during your research is how the amenities at your apartment complex compare to others. Amenities can include a pool, game room, fitness room, grills, computer lounge and a pool house for parties.

    De-Cluttering

    • It is important that apartments for sale look de-cluttered, clean and well-maintained. Apartment shoppers like to imagine their own belongings in your space, so it is important to keep your décor simple and remove overly personal hints of your life, such as family photographs hanging on the wall or calendars. If your apartment complex does not offer additional storage space, consider renting a storage unit to keep the items you do not during the selling process. These items can include books, clothes, furniture, appliances and toys. According to Christine Haughney in an article for "The New York Times," a cluttered apartment can reduce the value of your apartment by 5 percent to 15 percent.

    Making Improvements

    • Get your apartment professionally cleaned and shampoo the carpets. Haughney states that a dirty carpet can reduce your asking price by up to $5,000. The repairs you make or neglect can have a great impact on the amount of money you receive. Improvements to consider making include placing a dehumidifier in stuffy or musty-smelling rooms, painting wildly colored walls a neutral tone, fixing chipped plaster and grout, replacing broken tiles and upgrading old appliances. Small details, such as adding a new bath mat and fluffy towels to a bathroom or updating light fixtures, can make your apartment look more attractive to buyers.

    Real Estate Agent

    • Hiring a real estate agent can relieve the stress of trying to sell your apartment on your own. This professional will list your apartment on real estate websites, along with pictures and details about your apartment. She will also show your apartment to interested shoppers so you do not have to try to work around your jos schedule to do this. In return for her services, a real estate agent will earn a small percentage of your apartment's selling price.

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