I’ve had a condo listed for sale for the past 6 months. No offers, even after lowering the price and offering to pay 6 months’ condo fees to sweeten the deal.

Renovated before listing, place looks good, but lots of units for sale in same building and hardly any sales.

Anyone have any clever ideas how to make it move?

Am not keen on a race to the bottom, in terms of price…

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Posting as :
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https://realtor.ca/real-estate/25943516/edmonton

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And yes, I know a condo is not a great investment. Should’ve sold long ago 😕

Condo is a great investment! I have 2 and always getting calls for cash offers! What’s your location? How are you priced compared to recent sales? Is there any RE transactions happening in your area? Does your RE agent have a view on why it’s not selling? How high are the condo fees?

Hate to say but it sounds like the property is not very appealing (at least in this market) to buyers hence no interest. Either cut your losses and sell at the $ you are getting or wait it out. What’s the realtors recommendation?

Care to share location/price
Can DM if it's private

Same... can you please share the listing? Would love to take a look.

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If you’ve been vacant for 6 months, it may be worth trying to get a renter in there just to cover your costs. It may be worth trying to sign an 18 month lease so the tenant is exiting as the freeze lifts in spring 2025.

Does the condo association have any rental limitations? Perhaps it’s worth renting it out as a furnished short term or mid term rental, either directly or thru a host who is willing to arbitrage.

Have tried everything he’s suggested: lowering the price, terminating and re-listing, offering 6 months condo fees, …

Those have been all of the ideas he’s had. I have no idea what else to try.

He figures it’s not selling bc the ratio of condo fees to price is too high. Nothing I can do about that one except try to advocate (in vain) to rein in spending at the condo association meeting.

What is your existing loan like? Can you sell the property subject to?

No loan

Is the condo still available or could you sell it?

Still not sold 😔

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