It’s not the same as selling your home. Strata properties are quite different. It is actually quite different where the paperwork is concerned. Let’s check out what it entails.
What is the difference?
One of the major differences in selling your home and a strata property is that the home is on the land that you sell too – with it. With a strata property, you could be selling the home with or without the land it is on. It is hence important that you understand what exactly you are selling along with the strata property. This is not as simple as classifying whether the property is a condo, townhouse or a fraction of a vacation property.
Some residential properties are mixed setups that could also include commercial properties such as retail stores or restaurants.
The paperwork is a little different than standard. It will definitely include all the standard paperwork with some additional documents for property disclosure statements. Other than this, all the strata owners will be required to provide detailed information prior to the sale. This is exactly why hiring the right agent or realtor could come in handy. He will be able to provide you with the detailed list of documentation that will be required for the sale of your property and will walk you through the process of acquiring them too.
Strata corporations generally have specific rules regarding the sale of their units. Some of the corporations do not allow sign boards such as “For Sale” on the property. But with the right agent for your support this should not be a problem. You will still get the right price and the right customers!
It is however recommended to hire an experienced realtor to help you strike the right deal for the property you are trying to sell. Make sure that you select an agent who has complete knowledge of the local rules and regulations for buying and selling properties. More specifically check if he has experience with strata property dealings. This will definitely help you if you are selling for the first time.
Another important thing to remember is that selling properties is a year round phenomenon. There is no right season or right time. People buy and sell all year round. So do not wait around for the market to get better or the season to end or anything. Keep your searches going!
It is observed that strata living is best option for those who want to live a maintenance free lifestyle. Busy professionals and older adults prefer such a living. The potential buyers for such a living are definitely high. It is up to the realtor to get you the right deal for the property you are trying to sell. Make sure that you have all the documentation in place and make sure that you follow all the rules and regulations as defined by the local governing bodies and you should have no problems selling your strata property!
Selling Home in Vancouver. Naz’s speciality includes homes for sale in the Vancouver Westside, Burnaby, North Vancouver, West Vancouver, and as well as condos in Downtown Vancouver.
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