MAKE NECESSARY REPAIRS.

Of all the things homeowners control when selling their home, the condition of the property is the most important. There are probably some problems in your home that you have become used to. Attend to them now. A serious prospect will likely have a professional home inspection. Making repairs beforehand will leave less for the prospect's inspector to find.

 

Repair all items that fall into the following 5 categories:

1. Any major defect such as a structural problem.

2. Small defects that lead to major defects such as a small roof flashing leak.

3. Items that may hinder your buyer's ability to finance, legally occupy, or insure the property.

4. Any safety hazard such as a missing hole covers at the electrical panel.

5. Minor items noticeable to prospects such as a leaking faucet.

 

Tip: Save repair receipts for tax purposes and for inclusion in your promotional packets.

 

 

 

DON'T MAKE REPAIRS YOURSELF IF YOU ARE NOT QUALIFIED.

·  Your prospects or their inspectors may recognize sub-standard work.

·  Doing it yourself may take too long.

·  You could create a safety hazard.

·  The value of your own labor is not tax deductible.

·  You will be blamed for faulty repairs discovered later

PREPARE FOR THE INSPECTION.

·  Remove dogs - Inspectors don't like getting bit

·  Sweep the chimney - Inspectors need to see up it

·  Move things away from the basement walls - Inspectors need to inspect the foundation.

·  Clear a path to the attic access and electric panel

HAVE YOUR HOME PROFESSIONALLY INSPECTED PRIOR TO PUTTING IT ON THE MARKET

Eventually your buyer is going to conduct an inspection. You may as well save yourself headaches and know what they are going to find by getting there first.

 

Having an inspection performed ahead of time also helps in seventeen other ways:

1. You can choose Affordable Home Inspections, a certified NACHI inspector rather than be at the mercy of the buyer's choice of inspector.

2. You can schedule the inspections at your convenience.

3. It might alert you of any items of immediate personal concern, such as radon gas or active termite infestation.

4. You can assist the inspector during the inspection normally not done during a buyer's inspection

5. You can have the inspector correct any misstatements in the inspection report before it's generated.

6. The report can help you realistically price the home if problems exist.

7. The report can help you substantiate a higher asking price if problems don't exist or have been corrected.

8. A seller inspection reveals problems ahead of time which:

                ·  might make the home show better.

·  gives you time to make repairs and shop for competitive contractors.

·  permits you to attach repair estimates or paid invoices to the inspection report.

·  removes over-inflated buyer procured estimates from the negotiation table.

9. The report might alert you to any immediate safety issues found, before agents and visitors tour the home.

10. The report provides a third-party, unbiased opinion to offer to potential buyers.

11. A seller inspection permits a clean home inspection report to be used as a marketing tool.

12. A seller inspection is the ultimate gesture in forthrightness on your part.

13. The report might relieve a prospective buyer's unfounded suspicions, before they walk away.

14. A seller inspection lightens negotiations and 11th-hour renegotiations.

15. The report might encourage the buyer to waive the inspection contingency.

16. The deal is less likely to fall apart the way they often do when a buyer's inspection unexpectedly reveals a problem, last minute.

17. The report provides full-disclosure protection from future legal claims.

 

Include in your promotional packets, copies of the report along with receipts for any repairs made. Affordable Home Inspections specialize in Seller's and Move-in Certified inspections and can be contacted at 905-730-9300 or by visiting www.afordablehomeinspections.ca

IMPROVE SAFETY.

·  Correct trip hazards in sidewalk

·  Remove clutter from walkways and stairs

·  Add lighting where necessary

·  Post signs to alert visitors to potential hazards such as low head room

·  Move stored items away from attic's pull down stairs

·  Install and/or secure stair hand rails

·  Cover exposed electrical junction boxes

·  Add GFCI's (ground fault circuit interrupters)

·  Store chemicals out of reach of children

DON'T REMODEL.

Remodeling seldom pays you back; Remodeling Magazine's annual cost vs. value report shows that the cost of most remodeling projects are not 100% recouped when the home is sold. As shown in the following table, every time you sink money into these projects, you take money out of your pocket when you sell your home. For instance, adding a bath sends 28% of your investment down the drain. And a swimming pool returns as much value as a hole in the ground.

 

 

Project	Cost Recouped	Your Loss
Adding a bathroom	72%	28%
Remodeling a bathroom	71%	29%
Adding a family room	71%	29%
New kitchen	70%	30%
Adding a bedroom	65%	35%
Replacing windows	56%	44%
Swimming pool	0%	100%

 

DON'T ADD ON TO YOUR HOME.

·  The only addition to you should want for your home is a sold sign. You simply can't recoup the cost of an addition when you go to sell

·  Often a neighborhood can't support your larger home and it is usually more difficult to sell the biggest house on the block

·  Additions often look like additions from the outside; it is difficult for contractors to make an addition blend in with your home's existing architecture

·  A prospect who wants an addition in the future may not be able to afford it now.

 

Tip: If lot size and zoning laws permit additions, get official letters stating so. Include it in your prospect packets.

PREPARATION

 

Think like a buyer. Prospects naturally want the best for themselves. They arrive at your front door wanting to find the right home. If you have done your preparation work, every room in your home will lead them to end their search. Get everything done before your first showing.

 

 

LANDSCAPE

·  Make sure the lawn is neatly mowed, raked and edged

·  Prune and shape shrubbery and trees to compliment your home

·  Plant seasonal flowers along the walks and in the planting areas

·  Add an inch or two of bark mulch around your shrubs and trees

 

 

REMOVE EVERYTHING THAT YOU CAN TEMPORARILY LIVE WITHOUT.

Put everything you can into temporary storage, donate it to charity, sell it, give it away, or burn it. Removing everything from your home before putting it on the market...

·  Make your homes look bigger

·  Allows a prospect to more easily imagine their own items in your home

·  Allows you to remove personal fixtures, such as grandma's chandeliers, now, so that you won't have to bargain over them later

·  Neutralizes the personality of your home

·  Gives the inspector greater access

·  Lowers the cost of packing and shipping items

·  Prepares your home for cleaning, painting, etc

·  Creates a possible tax deduction if you donate items to charity

 

Tip: Videotape anything put into storage in case you later need to support an insurance claim or tax deduction.

  

  

EMPTY AND ORGANIZE YOUR CLOSETS AND CABINETS.

Prospects will look in closets and cabinets. Make them appear larger by emptying them.

 

 

CLEAN EVERYTHING.

No house is too clean, and few things increase marketability as much as cleaning. Used car dealers wouldn't think of selling a car without detailing it first.

·  Steam clean carpeting.

·  Clean windows and storms inside and out

·  Scrub bathrooms, and keep them spotless

·  Degrease the oven

·  Clean the water heater, furnace, and anything else prospects will be paying extra attention to

·  Power wash your siding and deck if needed

 

Tip: The kitchen is the heart of the home. It is the room that prospects will likely stops in and talk during a home tour. Clear all clutter from kitchen counters. Remove everything, even small appliances, to maximize the appearance of work space.

REPLACE BADLY WORN OR STAINED CARPETING.

Replace with inexpensive, neutral-colored carpeting. The worse your existing carpeting is, the better the return you'll get on this investment.

 

Tip: Use this opportunity to screw down loose and squeaky sub-flooring.

  

  

DON'T BUY ANY NEW MAJOR APPLIANCES OR FURNITURE.

·  They won't make your home look much better

·  The buyer will not reimburse you for them at full price

·  They cost money to move

·  They clutter up the place

·  The buyer may not share your taste

·  The prospect doesn't value them as much as they cost you

Exception: Tasteful mirrors can help direct sunlight or make a home appear bigger.

 

Tip: Leave out owner's manuals to appliances that are included with the home.

  

  

STOP SMOKING INDOORS.

Cigarette smoke causes odors and stains. Now is the time to kick the habit, at least indoors.

 

 

REPLACE TOILET SEATS.

·  They are inexpensive and easy to replace.

·  They make the whole toilet appear new.

·  Visiting prospects inspect and may use the bathroom.

 

Tip: Remove personal cloth lid and tank covers.

  

  

BUY ALL NEW SHOWER CURTAINS.

They are not worth washing.

CHANGE LIGHT BULBS.

Lighting has a tremendous impact.

·  Replace burned-out bulbs so prospects can see how cheery your home is.

·  Put in higher wattage, soft light bulbs to make your home brighter

·  Install lighting on stairs for safety

·  Add battery-operated lights to those closets that lack them

PAINT ANYTHING THAT NEEDS TO BE PAINTED.

An investment in cosmetic improvement will bring a greater return than mechanical improvement. Consider painting basement walls, front door, metal railings and trim.

·  Use neutral colors

·  Be neat

·  Label and leave the extra paint for the new owner. Moving companies won't transport it anyway

·  Don't paint unless you are good at it

1. Prospects will notice fresh paint if it's sloppy and wonder what you are covering up.

2. A sloppy paint job is worse than no painting at all.

  

Tip: Take photos or video of everything before you paint it to prove you weren't covering up any major defects. Later you may need to demonstrate this to a prospect, inspector, or worse, a judge.

 

 

IMPROVE THE DRIVEWAY SURFACE.

First impressions are lasting impressions. The surface of your driveway should be beyond reproach. Seal asphalt driveways, patch concrete ones, or order a load of stone to spread. It is relatively inexpensive and is the first thing prospects see in sales photos or when they visit.

 

 

CLEAN YOUR GUTTERS.

It may be raining when a prospect visits. Also, inspectors look for and note debris in gutters.

 

PLAY FAIR

You're entitled to all you can net out of your home. But some say that there is a fine line between salesmanship and deception. I disagree. Painting a room to improve cosmetic appearance is salesmanship. Painting a room to hide leaks on the ceiling is deception. The difference is clear. That is why I recommend that home sellers do four things. First, disclose everything you can about your home, including defects you know exist and even ones you merely suspect. Next, consider having a Pre-listing or Move-in Certified inspection performed by a member of NACHI, the National Association of Certified Home Inspectors and give every prospect a copy of the report. Third, encourage and allow prospects to perform their own inspections. Having taken steps that alert your prospects to the negatives frees you to emphasize the positives. Lastly, I recommend using a real estate professional to keep everything straight. Many a buyer happily paid full price after a real estate professional found them the right home. Both seller and buyer are winners when salesmanship is combined with honesty.

 

GET PROFESSIONAL HELP

This book contains my opinions. Some material in this book may be affected by changes in law. I am not engaged in the rendering of investment, accounting, or legal services. If these services are required, I urge the reader to obtain them from a competent professional. Much of what follows may sound as though I am also trying to talk you into using a real estate professional, I confess, I am. For most home owners, selling is a rare event. Selling without the assistance of an experienced real estate professional is like representing yourself in court. As they say, you will be sure to have a fool for a client. Aside from the skills required, selling a home is a lot of work. Add up all the hours real estate professionals spend selling a home then subtract their numerous out-of-pocket expenses and you'll find they end up earning less per hour than any other comparable professional. In short, they're a bargain.

 

  

Real estate agents provide countless services such as:

·  Implementing suggestions in this book

·  Representing you and protecting your interests

·  Providing up-to-date market information of recent sales and competing listings

·  Reviewing your disclosure statement

·  Acquiring school and crime statistics

·  Putting up a sign in your yard

·  Advertising your home

·  Complying with fair housing laws

·  Placing your home in the Multiple Listing Service

·  Creating and dispersing flyers

·  Prospect matching

·  Placing your home on various web-sites

·  Caravanning (touring other agents through your home)

·  Marketing to other agents by word-of-mouth

·  Alerting out of state transferees and corporate relocation services

·  Screening prospects to protect you from "unwelcome sightseers."

·  Holding an open house

·  Showing your house whether you're home or not

·  Responding to telephone inquiries about your home

·  Pre-qualifying prospects

·  Answering questions which prospects are reluctant to ask homeowners

·  Analyzing offers

·  Negotiating

·  Opening and managing the escrow

·  Writing and presenting counter offers

·  Consulting with attorneys

·  Acting as a buffer to keep the deal from getting too personal

·  Providing all the numerous required documents and forms

·  Handling inspectors and appraisers

·  Getting the Use & Occupancy permit

·  Resolving disputes

·  Acquiring estimates and bids

·  Arranging for repairs

·  Changing utilities

·  Clearing title

·  Preparing settlement documents

·  Taking the final walk-thru with the buyer

·  Attending and assisting you at the closing

 

 

 

Remember: For-Sale-by-Owner signs and ads often attract lowball offers from deal hunters expecting you to give them the commission in the form of a price reduction.

 

 

This costs you three ways:

1. You lose the commission savings anyway.

2. You suffer the costs normally absorbed by the real estate professional.

3. You don't get all the services the real estate professional normally provides.

  

You Can Fix a Radon Problem

If you find that you have high radon levels, there are ways to fix a radon problem. Even very high levels can be reduced to acceptable levels.

If You Are Selling a Home...

EPA recommends that you test your home before putting it on the market and, if necessary, lower your radon levels. Save the test results and all information you have about steps that were taken to fix any problems. This could be a positive selling point.

If You Are Buying a Home...

EPA recommends that you know what the indoor radon level is in any home you consider buying. Ask the seller for their radon test results. If the home has a radon-reduction system, ask the seller for information they have about the system.

If the home has not yet been tested, you should have the housed tested.

If you are having a new home built, there are features that can be incorporated into your home during construction to reduce radon levels.

The radon testing guidelines in this Guide have been developed specifically to deal with the time-sensitive nature of home purchases and sales, and the potential for radon device interference. These guidelines are slightly different from the guidelines in other EPA publications which provide radon testing and reduction information for non-real estate situations.

This Guide recommends three short-term testing options for real estate transactions. EPA also recommends testing a home in the lowest level which is currently suitable for occupancy, since a buyer may choose to live in a lower area of the home than that used by the seller.

Courtesy of: Affordable Home Inspections          905-730-9300        www.affordablehomeinspections.ca