When a Seller Prepares a Home for Sale - the Buyers will Reward the Seller
Realtor and Blogger Joan Cox makes a very strong point, that if Sellers take care of deferred maintenance, before the house is on the market, the Buyers will reward the Seller with a smooth transaction. Deferred maintenance is not liked by Buyers even in a strong Seller market.
Our Denver real estate market has been a STRONG Seller's market now for several years and Sellers have seen 8-10%+ equity each and every year. With that comes with additional issues -
- Sellers know they can sell their home so deferred maintenance is not done
- Sellers know they can sell their home to cleaning goes by the wayside
- Sellers know they can sell their home and buyers possibly pay over appraised value, so they demand high sales prices
We are seeing many homes come back on the market every day!
Dear Sellers, my advice is always - clean, clean and do more cleaning! Correct those items like water leaks in the sinks, and if those windows don't close and lock - FIX THEM! Know something in your home doesn't work? FIX IT! Do not give the buyers a reason to get out of the deal!
Our contracts give the Buyers a subjective termination clause for inspection and why have that option? Be prepared when you list the home! Correct any and all issues you already know about, that the buyers will discover at inspection!
When Buyers pay more for a home than they are comfortable with, then the inspection reveals more deferred maintenance or issues than they expected, those initial feelings of excitement will go by the wayside. There is still a chance the home won't appraise at contract price also if the appraiser thinks there is too much work involved.
Dear Sellers - would you want to fall in love with a home that needs lots of deferred maintenance?
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House to Home, Inc.
GRI, CRS, CNE, e-Pro, CLHMS
Broker/Owner
Joan@JoanCox.com
720-231-6373
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