Complete Guide to Selling Your Toronto Condo
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Deciding When to Sell Your Condo

Selling your condo can be a difficult decision. However, when the time is right, there are various important factors to consider when selling. They include:

The Time of Year

The slowest months of Toronto real estate are December and January, thus making the market seasonal. But, you can put your apartment on sale when there's little competition.

Similar Condos For Sale in Your Building

As condominiums are considered commodities rather than residences (there are many comparable units), the volume, quality, and price of existing competitors in your complex must be considered.

Similar Condos in Similar Buildings
A one bed + den is a prevalent condo layout in Toronto, resulting in increased competition, affecting how long it takes to sell your unit.

The Market Condition
Interest rates and consumer confidence have an impact on real estate values.

Your Choice

If you have planned to move outside the city or the property, you may not follow the above points.

Marketing Your Condo

The marketing of your Toronto condo is vital to the selling process and can significantly impact the selling price and how long it takes to sell your condo. At Toronto Condo Team, our unique marketing approach, combined with expertise in sales and negotiations, will make the difference in getting the attention of your potential buyers and making a better first impression.

Internet Marketing

Toronto Condo Team's goal is to make your condo accessible and feasible to potential buyers. We regularly update our listings to allow your condo to be seen by many people, including visitors on our website. Unlike other marketing strategies, internet marketing attracts potential buyers from all over Canada.

Approximately 95% of purchasers begin their search on the internet. Our website may also display your condo in a more personalized manner, successfully attracting potential buyers.

Advantages of Using Internet Marketing

• Convenience and quick service
• Keep track of the people interested in the condo
• Illustrate the number of potential buyers
• Search Engine Optimized content
• Your condo is advertised across Canada and not only restricted to Toronto
• Handle multiple customers at once
• Feasible for prospective buyers

Direct Mail

We deliver your condo offers straight to people's mailboxes via direct mail. We include brochures, booklets and sales letters in direct communications to potential consumers.

The following are some of the distinct advantages of direct mail marketing:

• Highly targeting
• Greatly measurable
• Cost-effective
• High Response Rate

Social Media Marketing

Social Media Marketing is an essential part of any marketing campaign's success as it boosts visibility, awareness and helps the units sell rapidly. Other advertising tactics require more time and effort than social media marketing

In addition, social media marketing reaches a larger audience than any other way. At Toronto Condo Team, we're able to reach a vast network of individuals and potential buyers through social media. Even a tiny start with a limited audience might help the campaign go viral if done correctly. Furthermore, our skilled marketing team ensures all marketing initiatives align with our goals of selling your condo for the highest possible return.

Some of the most notables benefits of using social media marketing to sell your condo are:

• Condos advertised to a large number of audiences
• Incoming traffic is usually the built clientele
• Integrating keywords for easy ranking of the posts
• Customers can connect via social media instead of face to face

Professional Condo Photography and Videography

Professional photography and videography play a very important role in any marketing campaign and can significantly elevate the presentation of your condo unit. High-quality photos and videos communication information to masses on a larger level than any other medium and attracts them. 

At Toronto Condo Team, we photograph and film every project under our care to highlight its features and appeal to potential buyers. These photos and videos are then used by our marketing teams to create eye-catching advertisements for your properties. The more appealing a marketing campaign is, more prospective buyers will be interested in your place. Right kind of photography and videography goes a long way to design perfect adverts for any product.

More potential buyers will be interested in your property if your marketing effort is appealing. The right sort of photography and videography goes a long way toward creating ideal property advertisements.

Professional property photography and videography:

• Reaches a wide range of people in a short time
• Effectively communicates your message to recipients
• Provide vital visual and audio information on condo features, layout and amenities
• Can be used on social media and websites to further your reach
• Effectively communicates essential information to potential buyers
• Quickly reach mass audiences

Condo Showings 

Keep the following in mind when buyers make an appointment to visit your condo:

• Get out of the condo!
  
  
• Make showing hours accessible for buyers. There's a lot of competition in the market today. Making it easy for potential buyers to visit and experience your condo can make or break their purchase decision.
  
  
• If you have a renter in your condo, you must give them 24 hours' notice before scheduling a showing. If the sale is quick, it will be less disruptive for their routine, so their assistance in decluttering and keeping the place clean will go a long way.
  
  
• Make it simple for potential buyers to inspect the facilities. Ascertain that the agents have easy access to a FOB so that they can demonstrate the amenities of your building.

Seller Closings

If you like guidance on the real estate closing process in Ontario, our dedicated Toronto Condo Team law firm partners will explain it to you. Lawyers usually correspond with your mortgage broker, bank or credit union to discharge outstanding mortgages, or transfer new mortgages in your name. They also wire money and concluded the real estate closing letter to you & the buyers legal representative on time to meet buyer and seller deadlines. Once the title is registered and the keys are delivered, the deal is done.

When closing your condo, your Lawyer will contact you to inform you of the final closing date. We recommend our clients contact their financial institution and provide the updated closing date at this time to guarantee that everything is in order financially and that your final closure goes as smoothly as possible.

The Lawyer will provide you with the following information through email one to five days before closing your condo:

Final Statement of Adjustments

A Final Statement of Adjustments references the buyer taking possession of your condo and a break down of the  transferring of the funds over to you. Certain items that are found in the statement include information on adjustments such as:

• Sale price
• Balance due on final closing
• Status certificate 
• Discharge fee
• Law society levy
• Art levy
• Development charges/education levy
• Parkland contribution
• Tarion enrolment fee
• Realty taxes
• Property taxes
• Occupancy fee adjustment for the month of closing
• Total deposits paid
• HST Tax/Rebate

Final Closing Costs

Condo sellers costs are normally minimal compared to the buying side. The selling side consist of a few things such as  paying realtor commissions, legal fees and disbursements, and mortgage payout costs to break mortgages before they are done.