Selling my co-op

So I dont post much... but lurk. DH and I are thinking about selling my co-op andlooking to purchase something bigger.. maybe a townhouse.

We had a realtor come out and she thinks we could list at almost 40k less than what I had really wanted to.

My question is for those who have sold did you always list at what a realtor told you? Should I try and sell on my own and list higher??

Thanks for your advice.

Re: Selling my co-op

I have never sold a co-op but I'd think that your realtor suggested that price according to the comps in the area. If you list it too high, it might stay in the market a lot longer than you'd prefer and not have the market value according to the other units in the area. I believe there's a website that you can check other comps but I don't know it. Hopefully one of these wonderful ladies will post it for you.
And don't feel bad...this market is a mess right now with the way things are. I think for the most part anyone that wants to sell, it's not necessarily the best time to do so.
And stop lurking and join us more.
Good Luck !

Re: Selling my co-op

I was just in a position as a realtor where I comped out a condo for someone and it was about $60k less then she wanted to list it for- basically I could list it for what she owed

Unfortunately in this market...it's very common

You really need to focus on - what you owe...vs what the comps are to see if it's worth selling

It's better to trade up in a down market- you might not get what you want for you place- but you are getting the next place for a lot less

Listing it much higher then the comps support is a waste of time- even if you get an offer- once they go for a mortgage and the bank appraises the co-op and it doesn't appraise for the selling price- chances are the deal will die (the bank is going to use the same comps).
Buyers are very savy today- they aren't going to over pay in this market

Re: Selling my co-op

as selling my coop recently if you want it to move right away you should have your self priced in the market even a few thousand below the other coops for sale in your town. I learned this the hard way once we lowered it we got two offers in three weeks. good luck!!!!
it is a buyers market now if you want out you must do this.

Re: Selling my co-op

We sold our co-op in November. We sold it for $30k less than the original asking price. We tried selling it on our own for the price we wanted. That didn't work and then we listed with an agent. She had 2 open houses and then sold our apt.

Re: Selling my co-op

Can you rent it out if selling for a loss isn't an option for you right now?

Re: Selling my co-op

Prices are down.

We have a coop--I know we would take a loss based on what we paid BUT we would also pay LESS for a bigger home.

Same goes for you, sure you will get less then what you want, but the townhouse will cost less

Re: Selling my co-op

Thanks Girls! I really appreciate it and you all said the same thing and it makes sense. You are all 100% that we hopefully will be able to move into something better.

I am taking this one step at a time and its new for me to be the seller... three yrs ago I was the buyer.

Anywho Thanks! Im sure I will be on and asking these dumb questions. Stay tuned!

Oh and if anyone is looking for a 2bdroom co-op in westchester - we may be selling