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There is nothing like living in NYC but there is really nothing like owning in NYC! We love watching people buy and sell here dropping in and out of their lives as they buy bigger or smaller apartments as life stages change. We are lucky enough to...
There is nothing like living in NYC but there is really nothing like owning in NYC! We love watching people buy and sell here dropping in and out of their lives as they buy bigger or smaller apartments as life stages change. We are lucky enough to witness so much joy typically at the end of this process. However, there are times when you need to sell and an owner is taking a loss. It can be a tough pill to swallow and we wanted to talk about it because it does happen. Today we are talking about selling at a loss, why this can happen, and if there can be a bright side when you sell at a loss, I say there can be a bright side (however I prefer to sell at a profit)!
Nobody wants to lose money and timing is everything with selling. The closing costs here for sellers greatly impact the amount a property has to go up in order for a seller to make a profit but also the state of the market will affect profits as well. It can be a real hit to your ego if you are selling at a loss so think about if you really need to or not and what your motivation is for selling. Sometimes moving on is best and other times waiting but know if you do want to sell for a good reason you can’t always wait for the perfect market since nobody really knows when things will change.
Any other questions? Reach out to us at www.therealestatebroadsofnewyork.com or you can email us at deniseandsharon@compass.com
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