So you’ve decided to sell your apartment, but you’re not sure about the steps necessary to make it happen. Don’t worry; many people are unfamiliar with the process, since they’ve only experienced the purchase of their apartment. It is important to remember that in order to make the sale of your apartment a pleasant experience, you should make yourself aware of all the details involved. The following is a description of the sales process; it will guide you through the steps necessary to fulfill the Corporation’s requirements, so your sale is not lost or protracted.
The first step in the process is choosing a broker. There are many out there and you should speak to your neighbors about their experience with the broker who engineered the purchase of their apartment. Also, check out our sales page for information on the recent sale of apartments in our building, including the apartment line, price and sale date. This information will give you an idea of the going rate for other apartments in the building.
The Open House
Once you have selected your broker, you will need to make arrangements for open houses. The only days permitted for open houses are Saturday or Sunday, from 11:30 a.m. to 1:00 p.m., 1:00 p.m. to 2:30 p.m. or 2:30 p.m. to 4:00 p.m. The Corporation requires that an Open House form be completed by the broker or shareholder and faxed to the managing agent on the Monday prior to the weekend during which the open house is requested. Please note that a form faxed before 9:00 a.m. will not be considered, so be sure fax your request between 9:00 a.m. and 5:00 p.m. The managing agent will inform the broker or shareholder of the designated time and date of the open house via a telephone call. For detailed information on the open house rules please read the Open House Request Form.
Once you have an offer your broker will need to provide the purchaser with a Sales Application Form. The completed Sales Application is to be forwarded to the managing agent, who is responsible for reviewing it for completeness before forwarding it to the Board of Directors for their consideration.