Selling Your Family Member's Condo in Lansdowne Woods
Whether your loved one’s needs have progressed beyond Lansdowne Woods or they have passed away, the task of selling their condo can feel overwhelming. Our role is to manage the entire process for you and remove as much of the burden as possible. Once you have taken the time to grieve and process the changes that have occurred, review our important tips for selling your family member’s Lansdowne Woods condo.
- Contact The Building Manager
- Keep Paying the Bills
- Get Paperwork in Order
- Forward the Mail
- Consult with a CPA
- Remove Valuable and Sentimental Items
- Clear Out Personal Belongings
- Spruce It Up
- Get it Sold
Contact the building manager. Each building in Lansdowne Woods has its own separate management team to assist residents with a multitude of services. The first step is to notify the specific manager of your loved one’s building and update them on your loved one’s status. You will find a list of the building addresses and manager contact information in the Resources section.
- Keep paying the bills. Keep the HOA dues, condo fees, mortgage (if applicable), homeowners insurance, and utilities current. You don’t want to incur penalty fees for delinquent payments or liens on the property that could impair the sale. Remember that cable, internet, trash, and water are covered by each condo association so don’t scramble around looking for those bills. The contact information for the Lansdowne Woods HOA, each Condo Association, and local utility companies to make arrangements for payment can be found in the Resources section. Be sure to cancel any additional services that are no longer necessary, such as dog walkers, newspaper delivery, any upgraded internet/TV package, or grocery delivery. This is a good time to contact your attorney or financial planner to discuss any accounts which should be used to pay certain household bills.
- Get the paperwork in order and contact your estate planner, financial advisor and/or estate attorney. If your loved one is still living but not able to make decisions on their own, or they simply prefer you to manage the process, obtain specific and durable power of attorney. This gives you the legal authority to act on their behalf to sell the condo even though you are not the owner. The Commonwealth of VA has a specific Transfer of Deed upon Death that you and your family may want to consider to make the transfer of title a bit easier if the property is not held in a Trust. Gather all other important documentation (insurance paperwork, wills, investment documents, bank account information, etc). Any non-important paperwork should be shredded and disposed of. If there are many documents that need shredding, the town of Leesburg hosts free shredding events twice a year. Staples, Office Depot, and Securis also provide shredding services for a fee. Please remember that if the property is not held in a Trust and has transferred through standard probate or the will, you will have to pay a risk premium if you wish to sell the condo within the first 12 months following your loved one’s passing and want all the proceeds at closing. The cost for this is $2 per $1,000 of the sales price. So if you are selling for $350,000, the risk premium due at closing would be $700. The settlement attorney can assist with any questions or concerns regarding this and other matters.
- Forward the mail. Have all of your loved one’s mail forwarded to your address so that you don’t miss any important alerts or notifications.
- Consult with a CPA. Whether you are selling a condo that is still owned by your loved one or a condo that you have inherited, you don’t want to get hit with a surprise tax bill. Consult with your CPA to review the tax implications of the sale. Let us know if you need a referral for a reputable and experienced CPA.
- Remove valuable and sentimental items. Discuss with family members about any items from the condo that they may want to keep. It is important that everyone is included so that you don’t donate something that was of little monetary value, but of great emotional importance to a relative. Jewelry, art, and other valuables should also be removed from the property. Have any possible high dollar items appraised so that you can add them to your insurance if you are going to keep them or know the value if you decide to sell them. Look thoroughly through the condo. Jewelry may be tucked in coat pockets or money stashed under the mattress or in books and magazines. You don’t want an old couch going to the thrift store with a valuable baseball card collection hidden underneath the cushions.
- Clear out personal belongings. After you have moved the valuables and sentimental items, you will need to remove any additional personal belongings. You will need to decide whether you want to sell, donate, or trash the remaining items. Take into consideration the time and energy it takes to sell versus the possible income. For example, unless clothing is designer or vintage, it is unlikely that the money you will earn from trying to sell it will be worth the hassle. If you choose to sell, possible avenues include Ebay, Craigslist, consignment shops, antique shops/dealers, and Facebook Marketplace. If you choose to donate or trash items, we can put you in touch with local charities/places of worship that accept donations and/or trash removal services. Before you remove furniture and decor, we will tour the condo and provide guidance as it may be beneficial for some items to stay in the condo for staging purposes. As previously mentioned, be sure to check belongings thoroughly before donating, selling, or trashing for other items that may be tucked inside. And we are always here to connect you with helpful resources for selling and donating items.
- Spruce it up. We will provide you guidance based on your personal situation/resources as to what touch ups need to occur to get the condo showing its best to seek the highest price possible. While buyers in Lansdowne Woods love stainless steel appliance, granite counters, and hardwood floors, there are also plenty of smaller projects that can be done that will have a big impact if larger renovations are not in your budget or timeline. Other popular tasks to get a condo market ready include fresh neutral paint, replacing old/worn carpets, repairing items that need fixing, and updating dated or broken appliances and light fixtures. Whether you decide to do a major renovation or leave the condo in its current condition, it will be very important for the unit to be sparklingly clean. Professional cleaners, carpet steaming, window cleaning, and paint touch-ups are imperative for the condo to make a great impression on potential buyers.
- Get it Sold. Now you are ready for the market! The Spear Realty Group will have a professional real estate photographer take photos to use as part of our robust marketing plan to make sure that every potential buyer knows that the condo is available. We will even begin marketing the unit before it officially hits the market to begin building excitement. We will walk you through reviewing offers, selecting the best offer for your needs, and all the way through to settlement and collecting the proceeds.
The Spear Realty Group has been helping buyers and sellers in Lansdowne Woods since 2004. We are proud of our reputation and are highly recommended by the building managers, the LWVA executive team, and security staff. From getting quotes from cleaning companies to meeting with painters and contractors and reviewing offers through closing, we are here to help you through every step of the process. We have assisted many families who live all over the world successfully sell their loved one’s Lansdowne Woods condos. We are here to support you through this emotional time and take one more to-do off your plate.
Give us a call at 703-618-6892 to discuss your specific situation and how our proven marketing strategy combined with our extensive Lansdowne Woods knowledge and dedication to customer service and care can help you sell your loved one’s condo for top market value inside a timeframe that works for your family’s needs.
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|Lansdowne Woods Building Associations|
|The Magnolias (19350, 19360, and 19370 Magnolia Grove Sq)||Building Manager- (703) 858-3444|
|Riverview (19355 Cypress Ridge Ter)||Building Manager- (703) 729-9701|
|Potomac Ridge (19365 Cypress Ridge Ter)||Building Manager- (703) 723-9666|
|Blue Ridge (19375 Cypress Ridge Ter)||Building Manager- (703) 723-6266|
|Riverbend (19385 Cypress Ridge Ter)||Building Manager- (703) 724-7800|
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|Verizon 800-837-4966||Comcast Cable 888-683-1000|
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We have an abundance of resources for everything from professional organizers, packers/movers, cleaners, painters, contractors, local charities that accept donations, CPAs, and junk removal services. We would be happy to provide you with referrals. Please call us at 703-618-6892 to discuss your needs.