After showing a few short sales and bank owned homes and comparing the two, I've realized that they are running neck in neck on the type of condition that they are in. Being an agent in this market, I have developed a certain empathy and understanding for the situation that distressed homeowners are in. However, when listing a short sale property we make it a point to ask the homeowners to keep the home clean, especially when showing it to buyers.
What I've realized is that although buyers understand the market that they are purchasing in, not much has changed in the way that they visual the space. The expectation of the condition for bank owned homes is minimal to say the least, but the expectation of the condition for a short sale is higher because homeowners and tenants are occupying the home.
The responsibility of the agent is to make sure the homeowner understands the benefits of completing a short sale over having the home go into foreclosure. It is also our job to make sure the home is priced competitively, disclose the condition of the home, and inform the homeowners about the importance of maintaining the condition of the home.
I compiled a list of ideas to help show the property (nothing expensive, as we all understand homeowner's situation):
- Keep all countertops clean in all rooms
- Replace all burnt out light bulbs
- Open all drapes and window blinds
- Clean out the oven, built-in microwave, dishwasher, etc...
- Maintain the yard and landscaping
- Paint
- Shampoo the carpet
- Box all personal items and put them in the garage
- Daily cleaning, especially in the kitchen and bathroom
- For pets, it's important to keep the home smelling good (febreze is always a good thing to keep on hand).
If the homeowners, are going to be present be sure they are instructed to answer any questions about the condition of the honestly or direct the buyer's agent to contact you (the listing agent). Remind homeowners that the home buyer's are there to sell their home and allow them to move on in the most dignified way possible.
We have a due diligence to sellers and buyers to list their property and our clients have a responsibility to help in the best way that they can. Compile a list of items that you recommend to be maintained during the time that you are contracted to sale the property.
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