Special offer

Because we GAVE the HOUSE AWAY...We aren't Fixing ANYTHING !

By
Real Estate Agent with EXP Realty 414-525-0563 57026-90 Broker

Money with wings      Because we GAVE the HOUSE AWAY….We won’t be fixing anything… It’s a new day in real estate….wake up and smell the….”I don’t have to if I don’t want to” take the weeds with the flowers….the bad with the good…”I had to give my house away and I don’t care what it is, I am not fixing it’ attitude.

        

  OUCH ! Says the buyer who may or may not have offered a “fair price”. Maybe he/she/they were guided to make the offer based upon the similar sold properties in the neighborhood with the assistance of the Buyers’ agent. Maybe they were under the hypnosis of the mass media and the “It’s a Buyer’s Market” mantra.yoga mantra

        strings attached   It was their expectation that they are willing to pay a price the Sellers found acceptable….and didn’t expect strings with their accepted offer that could tie them to a house of defects…..they could walk away of course….A Notice of Defects does that in Wisconsin allows the Buyers to walk from a contract when defects are found that they feel are too much to repair. Buyers here can choose to allow the Seller to “have the right to cure” …or not.

  boxing    To a Seller who feels that the Buyers have beat them up on price….never mind the market, that the property may have been priced too high and may well not appraise anyway….that there may have been deferred maintenance…the Seller still believes sometimes,, that they “rule” and golly gee whiz never mind all those contributing factors….this is the only available tourniquet to stop any further financial bleeding.

      Now, those “defects” found during the inspection that the Sellers(s) refused to fix…in Wisconsin, become a part of an “Amendment to the Condition Report.” Any prospective buyers thereafter are aware of the conditions…and now Every Buyer knows…what “as is” really means….the castle without correction may well be for sale for a very long time.

              If you are looking for a Realtor who will tell you the way it really is.....the way it will really sell...Call the Hansons...if you don't live in southeastern Wisconsin and long for the truth....Call us and we will refer you to a Realtor in your area who can help you honestly and professionally...the service you need and deserve.

Posted by

Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS


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Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

Good point Judy....OR...(forgive the pun :) ) the agent needs to be fired for making the seller believe the house was priced right when it was overpriced....and the offer that they think "gave the house away" is realistic for the market.

Mar 19, 2012 01:04 AM
Wayne Jackson
Lakeshore Realty 208-714-4109 - Hayden, ID
North Idaho Realtor, Serving Coeur dnullAlene and Hayden Lake

When I get a seller like that I advertise the home as a "fixer" and then I tend to get a different type of buyer. Usually one who can do their own work.

Mar 19, 2012 01:32 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Getting through the inspection and the request for repairs is often worse than the initial offer. Seems that it is more problematic when the initial process is contentious.  Sometimes one or both sides of the transaction seem to forget the overall goal and get too focussed on winning.

Jeff

Mar 19, 2012 01:34 AM
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

I understand a seller not wanting to spend more money on a home that they already emotionally have walked-away from.  Human nature explains that.  But then the brain has to kick-in, doesn't it??  If, as you say, the maintenance has been neglected and easily seen by potential buyers ... what part of NOT fixing it makes monetary sense???  That's the thinking that always confuses me about these cases.  Greed would tell you to fix it so you can make more money on the sale.  Especially those easily visible, easily fixed items.  Cosmetics does much, right??  Not fix them and new buyers see problems everywhere they walk ... and issues that may not even really exist.  Common sense is so lacking in our industry these days.  On both sides, professional AND client ...

Sighhhhhhh ...

As usual, Sally and David ... a wonderful post with lots to chew on ...

Gene

Mar 19, 2012 01:58 AM
Ben Yost - 303-587-4297
First Time Home Buyer, Mortgage Rates, Pre-Approval - Denver, CO
FHA, VA, Conventional - Mortgage Loans in De

I'm so tired of deals falling apart over $300.00 worth of inspection items that both sides stick their feet in the sand on!

Maybe a cage match might work - best 2 out of 3 winner takes all!

Good Post!

Mar 19, 2012 03:04 AM
Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

All the short sales and REOs listed "as-is" makes it very tough for buyers to expect a normal sale to make repairs.

Mar 19, 2012 03:48 AM
Amanda S. Davidson
Amanda Davidson Real Estate Group Brokered By Real - Alexandria, VA
Alexandria Virginia Homes For Sale

It's always the little things that seem to have the biggest effect. I always talk to my sellers before we go on the market about home inspection repair requests. There's always going to be something and most of the time it's such an easy fix.

Mar 19, 2012 03:56 AM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

I disagree respectfully and wildly....when buyers buy a "traditional" sale that is in part what they believe they understand...sellers WILL fix a home on which they accepted an offer....if they felt the offer was not acceptable...not knowing what an inspection will/will not do....they had an option to counter it.

Mar 19, 2012 03:57 AM
Suzanne McLaughlin
Sabinske & Associates, Inc. (Albertville, St. Michael) - Saint Michael, MN
Sabinske & Associates, Realtor

We actually have an amendment that the Buyers and their agent must sign when making an offer.  It states among other things that the seller will not pay for anything, and the bank will not accept repair requests either. 

Mar 19, 2012 04:12 AM
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Well I agree sometimes. There are buyers out there looking for the 'perfect' house & it's just not out there. Everything is not going to be completely in working order or the way they want it.  A house has how many millions of parts, nails, etc. & sometimes they all don't work in harmony.  Doesn't mean the house is bad, it's just not perfect.  Some buyers don't care & just want to nickel & dime sellers to death.  I can say wait until it's your turn to sell Mr. Buyer as your 'perfect' house will be even older than it is now!

;-)

Mar 19, 2012 04:13 AM
Steven Brand
Woodbury, MN
NMLS# 261849

The TRUTH hurts and sellers have such a hard time accepting it... (over here in Western Wisconsin too)

Keep at it!!!

Mar 19, 2012 06:24 AM
Bob Miller
Keller Williams Cornerstone Realty - Ocala, FL
The Ocala Dream Team

Hi Sally & David, "we gave it away" are some of the most dreaded words I hear.

Mar 19, 2012 06:33 AM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

You betcha....prices and deals and fixes ...oh my !

Mar 19, 2012 06:33 AM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Sally and David I hear similar statements and complaints from sellers all the time. The problem is when the beat them up on price then do it all over again after the home inspection. the question to sellers is how bad do you want to sell. the good thing here in Nh is that listings are down near 30% and sales up near 18% so there are starting to be more buyers than homes in some markets which will end that practice

Mar 19, 2012 06:55 AM
Jeanne Dufort
Coldwell Banker Lake Country - Madison, GA
Madison and Lake Oconee GA

No matter how the negotiations progress, I tell my savvy sellers to be prepared for a honey-do list after the inspection, and to budget something so that can say yes to reasonable requests.

When surprise serious problems are discovered, then we have to rethink the situation - after getting independent confirmation, of course.

The buyers who are simply using the home inspection for an opportunity to renegotiate the deal are usually fairly obvious.

Mar 19, 2012 09:09 AM
Joy Daniels
Joy Daniels Real Estate Group, Ltd. - Harrisburg, PA

I love that line. . . at this point in my career, I simply listen and tell them when we get the inspection results back, they can make that decision then if they want too.  :)  Almost always they end up making some type of repair.

Mar 19, 2012 12:29 PM
Gene Riemenschneider
Home Point Real Estate - Brentwood, CA
Turning Houses into Homes

Banks and Short Sales can generally get away with that.  However, traditional sales demand top dollar and condition.  

Mar 19, 2012 03:37 PM
Sherry Peckhoon Sim
Sims & Company - Cayucos, CA
Broker/Owner, Covering the Beautiful Central Coast

In CA, the "as-is" present condition is included in our contract, so I believe in educating both sellers and buyers and prepare them.  A professional home inspection is definitely recommended for buyers. I agree with Gene.  REOs and short sales are probably the true "as-is" sales.

Mar 20, 2012 02:34 PM
Sylvia Jonathan
Coldwell Banker Platinum Properties - Irvine, CA
Broker Associate, SFR

I prepare my sellers to a possible request for repairs ahead of time. They know they can refuse to do them, but it is usually in their best interest to do reasonable repairs. I have seen totally unreasonable buyers' requests for repairs too. The seller is not obligated to upgrade the home for the buyer, only repair defective items. That said, sellers should "hop to it and do it".

Mar 21, 2012 02:55 AM
Matt Robinson
Professional Investors Guild - Pensacola, FL
www.professionalinvestorsguild.com

This is why I just don't take unreasonable sellers to begin with.  If you are unreasonable about price, even with numerous comps staring you in the face...then you will be unreasonable about everything. That includes fixing a warranted item that if you were buying the home, you would DEMAND be fixed.  Either operate in good faith while selling your home, or I won't be representing you! 

Jan 30, 2013 02:20 AM