We sell a lot of lofts, so we know this type of property well. Different loft projects have different regulations, and we will make sure we know everything about the project before going to market, because there is more to selling lofts than talking about how cool the space is.
Here are some other things your representative should know before going to market:
- Live/Work or not: A large percentages of lofts are Live/Work, which generally means you can live and work in the unit, but within that category are lots of variations. Knowing yours can save you from not getting offers or having deals blow up.
- License Required or Not: A good percentage of the Live/Work projects require a license. Altough hardly anyone ever gets one, there can be severe financial penalties if the buyer does not get one.
- Financing: Many lenders will not do loans on Live/Work projects, so it's critical to find a lender who will in advance of going to market to avoid getting into contract with a buyer whose lender won't fund on your property. We always make sure lenders do this type of project to avoid that eventuality.
- Rent Control or Not: Some older projects may be under rent control, and not disclosing this could cost you a sale. We'll make sure that the right information gets to buyers to make any offer solid.
Whether selling (or buying) a loft, single family home, condo, TIC, or investment property, we will make sure that the process is as seamless and stress free as possible, you are fully informed about what you are buying so there are no surprises later, and will negotiate the best price possible. And you’ll keep more money because even our rates are better.