Do You Need Private Mortgage Insurance?

Do You Need Private Mortgage Insurance?

Four Tips For Selling Your Townhouse

by Luke Fields

If the time has come to move on from your townhouse, you'll need to put it on the market. But there are some intricacies to selling a townhouse that make the process slightly different from that of selling a freestanding, single-family home. Here are a few tips to ensure the process goes smoothly and you find a buyer promptly.

Work with the right agent.

Look specifically for a real estate agent who has experience selling townhomes. If other townhomes in your community have been sold recently, you may want to as the HOA or the new owners of those townhomes who the realtors were who worked on those sales. These realtors already know the ins and outs of your townhome community, so they'll be more aware of what features should be advertised to buyers, how to price your home, and where to list it for the most attention.

Check with the HOA first.

Most HOAs have long lists of rules that govern the process of home sales. For instance, they may require that you inform them 30 days before putting the house on the market, and they may restrict where you can place the "for sale" sign. Get a good idea of these rules early on so you don't accidentally violate any of them and find yourself being charged a fine.

Clean up the exterior.

In most communities, upkeeping the exterior of the home is not your responsibility -- this is taken care of by the HOA. However, if you're hoping to sell the home, it's in your best interest to go above and beyond to make sure the exterior of the townhome is clean. Trim any bushes, pick up pieces of garbage that have blown into the flower beds, and pull any stray weeds. If your exterior needs more extensive work, such as re-painting, check with the HOA. They may be willing to do this work before you put the house on the market, or they may want you to pay for part of the cost. It's often worthwhile to pay a little to get the repairs made since this will make attracting buyers much easier.

Talk to the neighbors.

In a townhouse situation, your neighbors are close. It's polite to knock on their doors and let them know you will be selling your unit. This way, they won't be alarmed if a realtor or potential buyer shows up. Plus, they'll be prepared to be friendly and talkative one potential buyers arrive -- and friendly neighbors are an asset when selling any home!


About Me

Do You Need Private Mortgage Insurance?

Welcome to my website. My name is Larry Silva, and I want to talk a bit about private mortgage insurance. You may have heard the term PMI mentioned when you were in the process of purchasing real estate. When I first heard my lender talking about PMI, I was very confused. It was my realtor who sat me down and explained what private mortgage insurance was and when someone is required to purchase it. He told me that PMI is not lifelong insurance; it can be cancelled when the mortgage principal balance reaches a certain point. Once it was explained to me, private mortgage insurance was no longer a mystery or a confusing concept. I would like to pass on what I learned and hope that you find it to be of value.