Selling a Home in Panama City Beach
Let’s imagine this: Your babies have decided to make families of their own, and now you have an even larger family than before! This brings forth the thought, “where will everyone sleep for the holidays? My table isn’t big enough to seat everyone!” This sounds to me like it’s time to upgrade!
There are many reasons as to why you’d want to sell your home in today’s real estate market – more specifically your condo in Panama City, but take a look at these few factors before you take the plunge and to ensure a successful sale:
- First things first. It is imperative (I really don’t know how to stress this even further) that you and your agent are on the same page when it comes to selling your oceanfront property. Your property, an oceanfront condo overlooking the Gulf, would not be marketed the same way a ranch style home would be.My best advice would be in look into hiring a top producing agent. This person:
- Knows the competition. This person has lived and breathed their profession and knows anyone and everyone around them that could be labeled as competition. If your agent knows their stuff, they’ll know how to accurately beat out the competition and get you the most money for your time.
- Knows how to sell oceanfront property. This ain’t their first rodeo. This agent understands that he isn’t just selling a property, he’s selling a lifestyle. A good agent will see the bigger picture, and understand the importance behind staging the patio, or staging the dining room. S/he will want the potential buyers to feel right at home as soon as they step into your property. This could be their first waterfront condo, and first impressions are everything.
- Has a silver tongue. Agents are restricted to the number of characters they are able to put in a listing. This means that the right agent can identify the best words possible to sell your home in just the description.
- Knows how to take the best photos possible. Understand that the quality of the photos taken, and the angles of the photos, prove to be a key selling point when the property is on the market. S/he knows where the camera should be placed, how much lighting the room may need, and how everything looks in order to make the most out of every photo taken. Remember, “pictures are worth 1,000 words.”
- Your property is their property. Your agent needs to be in this 100% in order to make this successful. This means knowing the in’s and out’s of your property. Do you need flood insurance? How much is it? Do you have storm shutters? When were they replaced last? If new, when will they need to be replaced? What about my mortgage payment- what’s the price? These are just a few questions that your agent needs to know the answers to early on, in order to avoid any problems down the road.
- They understand what preparation is needed. Your agent needs to go above and beyond when it comes to your property. If there is trash located near the entrance, or near your property, they will ensure that it is picked up before photos are taken or interested buyers arrive. Same goes for the shoreline.First impression is everything and it is make or break.
Price It Right!
- Come on, Big Money! Listen, I am going to be 100% real with you: You want to sell your oceanfront condo quick? Price it right from the very beginning. You price too high, your house may sit on the market for a very long time before you get any movement. Your agent needs to start off with a CMA, Competitive Market Analysis, to determine the initial value of your house. Some of these factors include:
- . Location: “Oceanfront” jumps out quicker than the word “ranch” does. Plus being local to shops, marketplaces, and dining helps with property value.
- Waterfront Size: It would be impossible to accurately judge the size of the Panama City Beach shoreline, however where your location is on the waterfront can either negatively or positively impact your price.
- Frontage: This is extremely important for your agent to assess. Frontage is defined as the width of a lot, measured at the front part of the lot. So in layman’s terms, the more frontage there is, the higher the price of the condo will be.
- Amenities: Most condos are sold as part of communities. This means that there is local access to the pool, fitness center, or even a gym. However, the use of these amenities is not free. They are included in an HOA fee provided by the community itself. Be sure your agent knows of all the amenities included with the HOA fee, so there is no confusion once the sale has completed.
- Appraisal (Optional, but Recommended): Even though this bullet is optional, your agent acquiring an appraisal would be an excellent idea. These appraisals cost anywhere from $300-$600 dollars, which is a drop in the bucket if your condo is worth a couple thousand dollars up to a million dollars. Think of it like this: You’re paying someone to appraise your property, in order to receive thousands of dollars extra on your property price. Sounds like a win-win to me!
Congrats on successfully selling your condo on Panama City Beach! Hopefully these tips gave you a little more knowledge and things to look for when selling your home.
As much as we hate to say it, we hate to see you go! But are so happy you made so many memories here with us, in PCB.
It’s never goodbye, it’s see you later!