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How a Buyer sees a home is NOT always how a Seller sees the home
It is not a secret a home seller always thinks their home is the best while placing a higher value on improvements they made. The other not so well kept secret, is that home buyers tend to pick apart home trying to get the lowest price for the home.
Some where in the middle is the true value of the home. Getting there can be a rough ride. Take a recent seller who spent a great deal of home to get their home ready to sell. A $20,000 kitchen, adding a bathroom to finished basement area. Painting the inside and replacing the 1st floor carpet with laminate.
It sounds amazing doesn't it? However when you look at value, what you pay for a repair does not always make your home worth more that upgrade. With some you are lucky to get your money back. In this case they already owed a big mortgage. Being a condo in a large complex of all similar units, value is limited to near what the last 3 highest sales sold for.
In brief the seller wanted to add the cost of all these repairs to what the last condo sold for as theirs did not have these repairs. ... more
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