Sellers Don't Let Peeling Paint Cost You a Sale!
Pictured above is a home that I currently have under contract for Buyer's I represent. I had warned my Lake Charles Buyers that some of the items in the house were going to of issue when the Appraiser came out. During the Buyer's inspection period we addressed some of the needed repairs but the Seller refused to address the peeling paint and rotten wood on the exterior claiming that the home was listed for sale "as is". This is NOT an investment property! The Buyers are purchasing this property as their primary residence. They still wanted the home and if necessary were willing to make repairs after moving in, however sure enough the Appraiser did note the peeling paint and rotten wood! In order to close the loan, the repairs had to be completed.
Bottom line with an FHA loan is repairs have to be made and Sellers should understand that if they want to sell their home, repairs must be completed. There is no way around repairs when FHA, VA and Rural Development Financing are involved.
The Seller's Realtor should have prepared the Seller ahead of time and advised that these repairs be completed to avoid further deterioration. Don't neglect needed repairs if you want to get top value for your house!
Before Listing your Lake Charles LA home for Sale, view the Checklist I included for Sellers. If anything is broken or in need of repair, the Seller should take care of that before listing the home for sale. If not, the buyer’s home inspector will probably point out the issues as well as the Appraiser. Any noted repairs made on the home appraisal will have to be fixed in order for a Buyer to obtain financing.
Walk around the exterior of your Lake Charles home and if you know you have rotten boards, facia, soffits or peeling paint on wood trim, take care of those items ahead of time! If you don't, before listing your house I am going to remind you that you risk a low list price and will probably be required to make repairs anyway.
Comments(10)