Monday, February 2, 2015

Should a Seller Get Repair Estimates When They Will Not Be Making Any Repairs?

In an ideal world all homes would be in "move in" condition when they are placed on the market except, of course, for the homes that are specifically being marketed as fixer upper or investor properties. 

The reality is most buyers do not want to do a lot of work when they close on a new home.  Properties without needed repairs are easier to sell.

This is why I often suggest sellers have pre-listing property inspections. Read more here:  Why sellers should have a pre-listing property inspection.

Still there are times when known defects can not be addressed.  Sometimes these known defects are major issues like problems with the heating and air conditioning system, roof or plumbing. 

Although problems have been identified some sellers are not in a position to make the repairs.  This is fine as long as it is disclosed.  Let prospective buyers know up front these issues exist and price accordingly.

I suggest considering going one step further and obtain estimates fro the repairs and provide those for prospective buyers to consider.   This may not cause a buyer to move forward but it does give them food for thought while considering your home and its "flaw."

So should a seller get repair estimates when they are not going to take any action?   It is completely up to the seller as to the direction to go but full disclosure about issues and pricing for the condition, location and competition will work toward a successful sale more so than ignoring an issue.

Considering selling your Viera, Florida home?  Give me a call at 321-693-3850 or send me an email if I can help in any way.

Want a free market analysis on your Viera, Florida home?  Just ask!