Smart selling requires that you prepare your house for market by evaluating its physical condition, including systems such as plumbing, heating and electrical, and components such as the foundation, roof,doors and windows, floors, fixtures and finishes. The time to begin the evaluation depends on how soon you want or need to sell. If you know the house has been well maintained, less time is needed. In most cases, allow thirty to sixty days before listing.
Today most buyers demand that a house be in move-in condition, meaning that it's structurally sound, in good general repair with no obvious signs of deferred maintenance, and meticulously clean, attractive and inviting. If your house doesn't look ready to occupy, buyers will quickly move on, knowing they have many options. Don't expect that you can skip doing the work, put the house on the market and offer a price reduction or repair allowance. Buyers will have difficulty picturing how the house might look with new carpet or neutral paint colors, so you risk taking an even longer time to sell, getting no offers, or eventually getting an offer that is far lower than you anticipate. That's a waste of money, time and effort. Keep in mind that you're competing against new construction in pristine condition, often with buying incentives from the builder, well-maintained, existing homes and homes in foreclosure selling at a greatly reduced price.
You're probably already aware of some necessary repairs and other chores to address. Create a list of things to do, and decide if you can manage them yourself, or if you need help. Get estimates, develop a budget and proceed according to your selling timeframe. Consider getting a seller's home inspection if you suspect any serious problems, because known defects must be disclosed. Correcting them at this stage will cost you less in the long run because the buyer's repair estimate or demanded price reduction will always be more than if you had done the work before listing. Even minor disrepair can make a buyer worry that there are larger problems, so be thorough. Cosmetic preparations are equally important, and we will discuss them next time.
Smart Selling Tip: Before listing your house for sale, evaluate its condition and make any needed repairs. Don't plan to lower the price and skip doing the work because it will cost you time and money.
©2009 Mary Stephens and Sandy LeRoy
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