Special offer

Replace the flooring or give a flooring allowance

By
Real Estate Agent with Minnesota Property Group 40503429

In my opinion the flooring allowance doesn't usually do much for a buyer. When a buyers sees things that need work or need replacing they typically deduct whatever they think it will cost to replace from the offer they make on your property if they are even interested in your property. They almost always over estimate what it will cost and this almost always affects your bottom line. The most important thing to do is to get your home to show better than the competition, to be move in ready and to be priced at or below the competition. First time buyers tend to have a very hard time picturing the home with different amenities, finishes, decor etc. and they tend to either rule the home out right away or fall in love with the home based on the general feel the home gives them. It's very hard for a first time buyer to see past messy, smelly, or outdated homes and to see the potential in home. The better home shows, the sooner it will sell and the sooner your home sells the more money you will net.

Bill Pohl
Tetra Homes, Inc. - Loveland, OH

Joseph-

You are correct. Sellers need to make the changes to benefit them the most as most buyers do not have the mental capacity to project a change. Most of them can't even imagine a different paint color on the wall.

Dec 04, 2010 01:56 PM
Ernie Hernandez
RE/MAX - Cedar Park, TX
Central Texas Real Estate, NW Austin, Cedar Park

You ARE RIGHT! the flooring allowance will always be tripled by the buyer. There are plenty of companies in our area who will wait for payment (with good credit)

Fix it ahead of time and make more money on the sale.

Dec 04, 2010 02:02 PM
Maureen Fukumoto
Help-U-Sell Realty Pro - Mililani, HI
Maureen

Allowances for upgrades or repairs can also cause problems on appraisals, especially on VA & FHA loans.

Dec 04, 2010 08:25 PM