I am watching "Sleep on It" on HGTV for the first time on TV. I thought it is a very cool idea. In a competitive market like Frisco TX, this may be a very creative idea to sell a house. Now, especially if it's staged vacant. There is no trouble to the Seller. Even if the property is currently owner-occupied, what is a little weekend get-away so that your Buyers feel at ease with their purchase?

We test our clothes and our shoes before we buy it. Why not let the Buyers test the house before they buy it?

At the same time, this can also be a risky idea because the Buyers could very well turn around and not like their stay.

If the Sellers are pretty sure Buyers will enjoy the home just like they would, why not? This may give them peace with their decision so chances of things falling apart will be less for small reasons. Try it. It might just sweeten the deal.

 
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19 Comments on Trying before Buying Home Idea

APR
20
2008
123,612 Points 1 Featured Post Hit Router
I could never suggest that my sellers participate in this type of thing.  I can not imagine all the things that it could cause to go wrong.  Neighbors dropping by to tell horror stories that might or might not be true, all the funny noises in a house that if you just bought it, you're thinking well, that's interesting but if you hadn't bought it yet you're thinking "oh crap".  I mean...the list could go on!
10:46pm • #1
I have seen this show advertised but not yet tuned in.  I'm not sure I would recoment this to my seller, but if I was the buyer it could be interesting. 
11:01pm • #2
176,173 Points Outside Blog

I would be a little bit worried about the liability and what about other interested parties?

11:12pm • #3
3 Featured Posts
I think it's an awesome idea - but I haven't seen the show yet.  I mean, come on - we try on pants and shoes and jackets.  Look at the cost of a home compared to those items. It just makes sense.
11:19pm • #4
488,983 Points 50 Featured Posts Outside Blog
Adam & Ron: I thought of actually letting Buyers do this after we have an executed contract. So, it's not like we are letting any Buyers come stay and try. We must have a somewhat serious commitment from the Buyer (not just any Buyer).
11:49pm • #5
APR
21
2008
Localism Sponsor
Loreena, I saw this show and one of my buyers did too!  I know it is a great idea for the buyers...but what about liabilities if something/someone is damaged/hurt while they are in the home?  How many sellers would actually feel comfortable having strangers stay in thier home overnight? I would think it would be prudent to have an attorney prepare some kind of release that both parties would have to sign first.  I am in Northern IL, and we rely very heavily on our attorneys here.  I'd be interested to see how it all plays out...keep us in the loop if you try it!  If all were protected properly, it could be an interesting idea.
8:56am • #6
APR
22
2008
107,966 Points 3 Featured Posts
I haven't heard of this before, not a bad idea.  You would definitely have to trust the people staying in your house though!!
11:10pm • #7
APR
23
2008
 I have seen this show (being an HGTV junkie) and wondered how it would work in real life.  For the buyer it would be a great opportunity but for the seller - maybe not so much?  I am not sure I would be willing to do this if I were selling my own home - too much opportunity for things to go wrong.  But hey, let me know if you try this and how it goes for you, please.
5:27am • #8
167,651 Points 10 Featured Posts Outside Blog Hit Router
Loreena - I think it's a cool idea, but I see trouble written all over it.  Maybe for a staged home, but I wouldn't let a stranger stay in my home with all my stuff...
4:38pm • #9
319,994 Points 8 Featured Posts Outside Blog Hit Router
It's a shame we live in such a litiginous society. It could make or break a deal! Try it for 24 hours. See how you like it!
4:47pm • #10

No way, as stated above the liability factor is just too high. Also we have enough problems getting to the closing table sometimes, why complicate the matter. One last thing what if the buyers got hurt in some manner? What if they hated their stay and heard all kinds of things from the neigbors? Would they tell everyone they new. As agents could we be sued by the sellers for statements they made.

Lifes too short to complicate matters.

5:09pm • #11

No way, as stated above the liability factor is just too high. Also we have enough problems getting to the closing table sometimes, why complicate the matter. One last thing what if the buyers got hurt in some manner? What if they hated their stay and heard all kinds of things from the neigbors? Would they tell everyone they new. As agents could we be sued by the sellers for statements they made.

Lifes too short to complicate matters.

5:09pm • #12

No way, as stated above the liability factor is just too high. Also we have enough problems getting to the closing table sometimes, why complicate the matter. One last thing what if the buyers got hurt in some manner? What if they hated their stay and heard all kinds of things from the neigbors? Would they tell everyone they new. As agents could we be sued by the sellers for statements they made.

Lifes too short to complicate matters.

5:09pm • #13

I agree you would have to really trust the homebuyer before letting them stay in the home before the purchase. I think because of the television exposure the show was getting, that would make it tough for any liability. I would try more innovative ways.
openhousedog.com
5:15pm • #14
APR
25
2008
Localism Sponsor
Loreena...what a great discussion you have going here!  It seems like most agree that the liability is just too much to do this.  It will be interesting to see how it turns out of anyone tries it!
11:52am • #15
APR
27
2008
 I would not compare buying a home with cars and clothes. I could not find a change room big enouph to try it on or a road wide enouph to see how fast it can go. Joking aside, there are more things that could go wrong than right. Unfortunately.
11:25pm • #16
APR
28
2008
405,549 Points 9 Featured Posts Localism Sponsor Outside Blog

Loreena:  I think this is nothing more than a gimmick.  What could a buyer possibly learn about a house on an overnight stay?  I also agree with the liability issues that have been mentioned.  I don't think I would recommend it on either side of a transaction, even for buyers.  What if something goes wrong in the house and the buyers get blamed and end up in a lawsuit?  Was a sleepover really worth it?  Or even necessary to determine if the house was what they wanted?  A home inspection--YES...everytime.  Stay in a hotel nearby and try out the commute--ABSOLUTELY.  But this just seems a little risky.
11:23am • #17
6 Featured Posts
Loreena ~ This is a great idea. I always thought it was "rushing" Buyers to decide to purchase a home after 1 or 2 visits to it.
6:34pm • #18
MAY
13
2008
Localism Sponsor

I am following this post with interest...has anyone ever actually done this?
4:17pm • #19

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Loreena Yeo - Broker|Realtor(R) of Frisco-TX-Homes (214) 783-2210

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