You can sell a condo without a realtor by handling the HOA paperwork, pricing, marketing, contract, and closing yourself, typically working with a flat-fee MLS service, a title company or real estate attorney, and possibly an appraiser. The payoff is avoiding the listing-agent commission that historically ran 5% to 6% of the sale price. Since the August 2024 NAR settlement, sellers are no longer automatically expected to cover the buyer’s agent fee either, though in practice you’ll still need to decide how to handle buyer-agent compensation. The work is real, and condos come with a paperwork layer that a house sale doesn’t have.
Pull Your HOA and Disclosure Documents First
Order the resale certificate before you do anything else. Sometimes called a resale disclosure or estoppel letter, it comes from your HOA or its management company and tells the buyer what you owe in dues, whether special assessments are pending, and whether the association is financially sound. Management companies typically charge between $100 and $400 to prepare it, and turnaround can run a couple of weeks. A missing resale certificate can stall a deal at the worst possible moment.
Buyers and their lenders also expect the HOA’s governing documents: the declaration of covenants, the bylaws, and the most recent budget and financial statements. These show whether the reserve fund is healthy or whether a special assessment might be coming. If reserves are thin, sophisticated buyers will price that risk into their offer, so having the documents ready beats having them surface as a surprise.
Fill out a property disclosure statement covering known defects like past water damage, plumbing problems, or mold. Most states provide a standardized form through the real estate commission’s website. Be thorough. Omitting a defect you knew about is one of the fastest routes to post-closing litigation. Pull a copy of your current deed and confirm the legal description of your unit so every later document matches.
Check Your Association’s Sale Restrictions
Read the governing documents for provisions that constrain how you sell. Two catch FSBO sellers most often.
Many associations hold a right of first refusal, meaning the board can review your purchase offer and either match it or reject the buyer. The typical exercise window is 30 to 45 days after you notify the board. If the association doesn’t act in that window, the sale proceeds. Ignoring this right can void a signed contract, so build the waiting period into your timeline.
Look also for rental caps, owner-occupancy requirements, and buyer-approval processes. Some associations require prospective buyers to submit an application and pay a fee. Disclose any of these upfront so you don’t waste time negotiating with someone the board will reject.
Confirm Your Building Qualifies for Buyer Financing
A condo sale can collapse if the buyer’s lender won’t finance a unit in your building. This is especially common with FHA loans, which require the project to be either FHA-approved or eligible for single-unit approval. Single-unit approval generally requires at least five units, minimum owner-occupancy and insurance thresholds, and sound financial condition.1U.S. Department of Housing and Urban Development. FHA Condominiums Conventional lenders impose their own rules, often around reserve funding, the share of units that are owner-occupied, and whether any single entity owns too large a portion of the building.
Check whether your project appears on HUD’s approved-condo list before listing. If it doesn’t, you can still sell to buyers using conventional financing or cash, but note any known restrictions in your marketing so FHA buyers don’t waste their time or yours.
Set a Realistic Asking Price
Overpricing is the single most common FSBO mistake. Start with comparable sales from your building or nearby buildings with similar amenities. Focus on units with matching square footage and layouts that closed within the last three to six months. Adjust for floor level, view, parking, and interior finishes. A renovated kitchen matters. A second-floor unit facing a parking garage compared with a penthouse corner unit matters more.
If you want a defensible number, hire an independent appraiser. A condo appraisal typically runs roughly $300 to $425, and the report gives you a professional figure grounded in uniform appraisal standards. It also carries weight later when a buyer pushes back on price.
Follow Federal Advertising and Disclosure Rules
Without an agent screening your marketing, you’re personally responsible for federal compliance. Two rules catch FSBO sellers most often.
Fair Housing Act
The Fair Housing Act makes it illegal to publish any listing, ad, or social media post that expresses a preference or limitation based on race, color, religion, sex, national origin, disability, or familial status.2Office of the Law Revision Counsel. 42 U.S. Code 3604 – Discrimination in the Sale or Rental of Housing This applies to you even though you’re not a broker. Phrases like “perfect for a young professional couple” or “quiet building, no kids” can trigger a fair housing complaint. Describe the unit and the building. Let buyers decide whether it fits their life.
Lead-Based Paint Disclosure
If your condo was built before 1978, federal law requires you to give every prospective buyer a copy of the EPA pamphlet “Protect Your Family From Lead in Your Home,” disclose any known lead paint hazards, and provide inspection reports or records you have about lead in the unit or common areas.3eCFR. 24 CFR Part 35 Subpart A – Disclosure of Known Lead-Based Paint Hazards Upon Sale or Lease of Residential Property The purchase contract must include a lead warning statement, and buyers get at least 10 days to conduct their own lead inspection. Keep copies of the signed disclosure for at least three years after closing. This is not a gray area, and violations carry federal penalties.
List the Unit and Manage Showings
Get your condo on the MLS through a flat-fee listing service. A basic package typically runs $100 to $500 as a one-time payment, and the MLS listing feeds automatically to the major search portals where most buyers start. Spend the $200 to $400 for professional photography. Dim phone photos of a cluttered living room lose you far more than that. Write a description that highlights what makes the unit and building stand out: in-unit laundry, a balcony, secured parking, a fitness center. Say clearly that you’re selling without an agent so buyers and their agents know what to expect.
Showings in a condo building take more coordination than a house. You may need to arrange visitor access with building security or a concierge, provide written authorization for agents entering the building, and follow association rules about guest hours or common-area use. Electronic lockboxes let buyer’s agents access the unit when you’re not available, though some buildings restrict them. Clear any open house with your management office first. Keep a log of every visitor.
Evaluate Offers and Decide on Buyer-Agent Commission
Read every offer for more than the price. The closing date matters. So does whether the buyer’s financing is pre-approved or just pre-qualified, what contingencies they’re asking for, and how much flexibility you have on repairs or credits. A lower offer from a cash buyer who can close in three weeks may be worth more than a higher offer from someone whose financing looks shaky.
If the terms aren’t acceptable, send back a counter-offer addressing the specific points you want changed. Keep the negotiation focused on price, timeline, and contingencies. Once both sides agree, you’ll sign a purchase and sale agreement that becomes the binding contract.
Buyer-Agent Commission After the NAR Settlement
Since August 2024, sellers are no longer expected to set the buyer’s agent commission on the MLS. In practice, many buyers are still represented, and those agents expect to be paid. You have a few options as an FSBO seller: offer a specific commission or flat fee upfront in your listing to attract more agent-represented buyers, leave it open and negotiate compensation as part of each offer, or offer nothing and let the buyer handle their agent’s fee separately. There’s no single right answer, and the choice depends on your local market and how much competition your unit faces. Whatever you decide, put it in writing at the offer stage so there’s no confusion at closing.
Get the Purchase Contract Right
The purchase and sale agreement controls everything from here to closing. If you’ve never reviewed one, hire a real estate attorney to draft or review it. In roughly a half-dozen states an attorney is actually required to handle real estate closings, but even where it’s not mandatory, a few hundred dollars in legal review can prevent mistakes that cost thousands.
The contract should cover the purchase price, earnest money amount, closing date, financing and inspection contingencies, what happens if contingencies aren’t met, and how disputes will be resolved. Real estate contracts treat deadlines as hard cutoffs, and missing one can give the other side grounds to walk away or renegotiate.
The buyer will typically put down earnest money of 1% to 2% of the purchase price. That money goes to a neutral third party like a title company or attorney, not to you directly. The contract specifies the conditions under which the deposit gets returned (the buyer’s financing falls through, the inspection turns up a major problem) or forfeited (the buyer changes their mind after contingencies expire). Spell these terms out clearly.
Understand the Tax Consequences
Selling real estate triggers federal tax reporting, and nobody is going to handle it for you.
Capital Gains Exclusion
If you owned and lived in the condo as your primary residence for at least two of the five years before the sale, you can exclude up to $250,000 in profit from federal income tax, or up to $500,000 if you’re married and file jointly.4Office of the Law Revision Counsel. 26 USC 121 – Exclusion of Gain From Sale of Principal Residence Profit here means the sale price minus your adjusted basis, generally what you paid plus the cost of any capital improvements. You can only claim this exclusion once every two years. Any gain above the limit is taxed as a capital gain.
Form 1099-S Reporting
The closing agent is generally required to file Form 1099-S with the IRS reporting the proceeds of the sale. Condos are specifically listed as reportable real estate. Even if your entire gain falls within the exclusion, the transaction may still be reported.5Internal Revenue Service. Instructions for Form 1099-S Proceeds From Real Estate Transactions Keep your closing statement, purchase records, and receipts for improvements. You’ll need them to calculate your gain and support your exclusion if the IRS asks questions.
FIRPTA for Foreign Sellers
If you’re a foreign person selling U.S. real property, the buyer is generally required to withhold 15% of the gross sale price and remit it to the IRS under FIRPTA.6Internal Revenue Service. FIRPTA Withholding This applies regardless of whether you made a profit. You can file a U.S. tax return afterward to claim a refund if the withholding exceeded your actual tax liability.
Close the Sale and Transfer Title
Once the contract is signed, the closing process typically takes around 43 days. Cash deals can move faster, and complicated financing can push it longer.
The title company or closing attorney orders a title search to confirm you have clear ownership and that no liens, judgments, or other claims are attached to the unit. If anything turns up, an old contractor’s lien or an unpaid HOA assessment, you’ll need to resolve it before closing. Request your mortgage payoff statement from your lender at least two to three weeks before the expected closing date. Lenders typically need three to seven business days to prepare it, and the payoff amount changes daily as interest accrues.
Before closing, the buyer will do a final walkthrough to confirm the unit is in the condition you agreed to. At closing you’ll sign the deed transferring ownership, along with various affidavits and settlement documents, all notarized. The escrow officer coordinates paying off your remaining mortgage balance and distributes the net proceeds to you.
Closing Costs to Expect
Even without agent commissions, you’ll have costs at closing. Title insurance, which protects the buyer and their lender against defects in the title, is a significant line item. A majority of states also impose a transfer tax on real estate sales, with rates typically falling between a fraction of a percent and about 2% of the sale price depending on jurisdiction. Deed recording fees, which update the public record to reflect the new owner, generally run between $10 and $80. How these costs get split between buyer and seller depends on local custom and whatever you negotiate in the contract.
Once funds clear and keys change hands, your legal obligation to the property ends. Keep copies of the signed deed, closing statement, and all disclosure documents. At minimum, retain the lead paint disclosures for three years, and hold your tax records longer in case you need to document your basis or exclusion claim later.