How many times have I heard a Buyer say they were told "the Seller MUST repair all items which come up during either a home inspection or an appraisal? Too many to mention!!! I wonder how many agents have told their Buyers this information knowing that if they explained the options that a Seller has, that same Buyer would be hesitant to sign the contract?

For instance, if a home inspection report says the house has to be powerwashed does the Seller "have" to complete this repair? What if some of the gutters are missing? A porch railing is rotten? Correct me if I am wrong (I want your feedback), Sellers DO NOT have to fix anything. There is an option to cancel the contract and fix absoultely nothing including FHA-related repairs. I tell my buyers ALL of the possible scenarios that could arise concerning repars:

1. Seller can agree to SOME of the repairs and not others;

2. Although some repairs are major, safety-related and required for an FHA Loan, this does not mean the Seller is required to make repairs, only that in order for the Seller to continue with that particular contract, the Seller MUST complete the repairs. I do explain to my Buyers that some Sellers will simply cancel the contract if they cannot or will not do those repairs.

3. I do not "coach" my Buyer on which repairs to put in the Addendum, I only advise them that the mandatory repairs must be included. It is the Buyer's choice to include minor, cosmetic and non-mandatory repairs. I DO however, advise my Buyers that requesting numerous, minor and otherwise normal repairs that are usually part of routine maintenance by homeowners can sometimes "kill" a contract.

 


An "AS IS" Sale Means Seller Will Do No Repairs… or does it?
08/21/2010
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I'm curious as to how many times an agent has received a contract for an "as is" listing and soon after the home inspection, the buyer's agent sends over a list of 30+ requested repairs including, but not limited to, cosmetic repairs and minor… more
My Challenge - I can make a Millionaire out of you in less than a…
08/09/2010
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I can make a millionaire out of you in less than a year if you meet certain requirements and are willing to learn the ins and outs of rehabbing and flipping property. This is a challenge I posed to a new investor in my area who was looking for a… more
If You Are A Homeowner Who Owns a Pet And You Are Facing Foreclosure
06/28/2010
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NoPawsLeftBehind. org is an organization I recommend to homeowners who are facing foreclosure and through no fault of their own cannot take their pets with them. This website offers a source of information for homeowners who are not sure who to call… more
One of Those Phone Calls that Makes a Realtor Scratch Their Head
06/27/2010
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Shortly after posting a blog this past weekend, I received a v. m. message on my business cell phone. Within 5 minutes I received another call this time with the caller's number blocked. My antenna immediately went up and I checked the message to… more
The Historic City of Petersburg, VA
06/26/2010
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The historic nature of Petersburg, VA and yet another reason why you should consider purchasing a home in the City of Petersburg, VA during your home search… Petersburg, Virginia Petersburg, Virginia - City - Downtown… more
Canvassing vs. Paying for Leads
06/26/2010
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I have been contacted several times over my real estate career with companies offering to send "leads" my way for a fee. Some have offered to do this for a monthly fee, some have a "pay for each lead" fee. Does this ever generate real leads for… more
ARE YOU UPSIDE DOWN ON YOUR MORTGAGE? CONSIDER A SHORT SALE
06/10/2010
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So you've tried to sell your home and because the market has changed, you find yourself owing more than the market value of the home. Why not consider a "Short Sale" instead of letting the bank foreclose? Are you aware of the SIGNIFICANT damage a… more
 
Carol Johnson, Carol M Johnson Realty (CAROL M JOHNSON REALTY)

Carol Johnson

Carol M Johnson Realty

Richmond, VA

More about me…

CAROL M JOHNSON REALTY

Address: 2103 E. Parham Rd, Richmond, VA, 23228

Office Phone: (804) 751-5165

Cell Phone: (804) 490-1872

Email Me

CAROL M. JOHNSON REALTY Offices in Petersburg and Henrico VA We specialize in Foreclosed/REO Listings and Short Sales. We serve the following Counties: Petersburg, Dinwiddie, Henrico, Richmond, Caroline, Hanover, Chesterfield, Dinwiddie, Colonial Heights, Chester.


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