What Makes a Condo Sale Different

Buyers will compare your condo with the unit two doors down. They'll also look hard at your association's finances, and the paperwork includes a few items a single-family seller never sees.

 

I'm Tim Desmarais, a Realtor in Lowell and Dracut with Keller Williams Success Realty. Lowell has condos of every kind, from converted mill buildings downtown to townhouse complexes. I help owners price them and get the documents ready before a buyer asks.

 

How condos are priced

Start with your own complex. Buyers and appraisers look first at recent sales in your building or development, then at similar complexes nearby.

 

Then come the details: floor level, size, parking, storage, updates and the monthly condo fee. A higher fee can work in your favor if it covers heat, hot water or major repairs, and buyers will ask what it includes.

 

I aim to price your unit where buyers see the value in the first week. Chasing the last record sale in your building can leave you sitting on the market while newer listings sell.

What is a 6(d) certificate?

In Massachusetts, a 6(d) certificate is a statement from your condo association confirming you've paid your common charges. It takes its name from Section 6(d) of the state condominium law (M.G.L. c. 183A), and the closing attorney needs it before the sale can close.

 

Your management company or the association's trustees issue it, sometimes for a fee. Ask early, since some management companies take a while to respond.

Condo documents buyers will ask for

Buyers, their lenders and their attorneys often request:

 

- the master deed, bylaws and rules, including pet and rental rules
- the association budget and a breakdown of the condo fee
- recent meeting minutes
- the master insurance policy
- reserve balances and any special assessments


Your management company has most of these. Gather them before you list and you'll avoid a scramble later.

Special assessments and big projects

If your association has voted on a special assessment, or plans a big project like a new roof or siding, buyers will find out. Learn the details up front, and we'll price with them in mind.

You and the buyer can negotiate who pays an assessment. Your closing attorney can explain how sellers and buyers here tend to split it.

Massachusetts steps that still apply

Condo sellers still need a smoke and CO certificate from the local fire department and a lead paint notice for buildings built before 1978. You'll also pay the deed excise tax of $4.56 per $1,000 of the sale price. I'll help you schedule each one.

What clients say

What clients say

FAQ

How much does a 6(d) certificate cost?

That depends on your association. Some charge nothing, and others charge a fee set by the management company. The certificate shows your common charges are paid and the closing attorney needs it. Request it a few weeks before your closing date so it doesn't hold anything up.

Do condo fees affect my sale price?

Can I rent out my condo instead of selling?

Thinking about selling your condo in Lowell, Dracut or a nearby town?

Call or text me at 603-765-1965, or get a free, no-pressure home value estimate. If you're selling one home and buying the next, see my selling and buying at the same time page. My Lowell page has local prices and selling steps, and my selling page explains how I work.

Park beside a Lowell mill