There are two main reasons that transactions fall apart....this blog will address one and tomorrow's blog the other....If you guessed....Inspection and Financing...you guessed correctly.
There are a number of ways to address the inspection portion of the transaction. In our market, it is not necessarily "the norm" to do a pre-inspection on a house. On the sale of my Mother's house....while to the best of our knowledge, the house was well maintained, we elected to have a pre-inspection before listing. The inspection did uncover a few things and we had them repaired...and the inspection available for review by potential buyers.
Every inspector is likely to find something...and will alert the buyers to issues that they or the Sellers may need to address.
IF the issues are BIG issues...New roof, foundation
out of plumb, plumbing or electrical code violations....the Seller should address them "in a workmanlike manner" and note to prospective buyers whatever has been done and if there are warranties that accompany that work.
What if the Seller or Estate or Distressed homeowner cannot afford the repair or replacement of major item ?
If the house is an estate....it may be possible to have the repairs done and note that they will be done after an offer is received and the contractors are paid from the proceeds of the sale.
If the house is a short sale or the repairs are unaffordable, do the homework f
or the Sellers...and get quotes on the work that needs to be done. In our experience, the cost is never as much as the Buyer imagines and as a result, an offer is much easier to procure with the mystery of the unknown expense revealed.
The best listings are those that look at the property as objectively as possible....How much will it cost to....fill in the swimming pool if the buyers don't want it...repave the driveway...replace the roof....update the furnace...Doing your homework as a Seller or a Listing Agent means taking the house from "for sale" to "SOLD" in a much shorter time period...the faster a house sells...the greater the return on the real estate investment.
If you or anyone you know is looking for the best return on the sale of their home in southeastern Wisconsin...Call the Hansons....a real estate practice built on education and fostered by successful experience.
Comments(20)