I am sure you have read the news paper articles, and heard all your neighbors talking. The Palo Alto real estate market is on fire! Homes are getting multiple offers and selling for hundreds of thousands of dollars over asking prices. Buyers are buying homes in horrible condition and on busy streets. People are desperate to buy a home in Palo Alto so selling your Palo Alto home should be so easy why would you spend any money on preparing it for sale?
There is a very good reason for spending money to get a home prepared for sale:
YOU WILL MAKE MORE MONEY SELLING YOUR HOME IF YOU SPEND MONEY WISELY
So, how should you spend money?
Today, I want to talk about the first thing that should be done when you want to sell your Palo Alto home.
At a minimum when selling your Palo Alto home get a property and termite inspection (about $750 for the two) and even better a roof and chimney inspection, (about $300) and a foundation inspection ($500-$800) for any home built before 1950 or where the property inspector suggests one.
The only exception I would make for this would be if your home is red tagged as uninhabitable by the city. You may see every home on your midtown Palo Alto block being torn down and being replaced by a big new home, but as long as your home is not being held together by termites (and sometimes even if it is) there is going to be someone who would move into it and not tear it down. That person may want to give you a better offer than 10 others who want to tear it down.
If you do not do the inspections ahead of time and the best offer is from a buyer who is going to live in the house that person will not be able to make an informed decision about the value of your Palo Alto home without having inspections. If they are done before the buyer makes an offer they will have the information they need to make an informed decision. If you do not do inspections before selling your Palo Alto home, the buyer will need an inspection contingency which could reveal all kinds of issues that could potentially derail the sale.
So, to summarize, if you are going to sell your Palo Alto home spend some money up front and get your inspections up front. This will enable all buyers to make an informed decision as to how much they want and can afford to pay for your pot of gold, your Palo Alto home for sale.
If you have any questions about selling a home in Palo Alto or other surrounding areas please feel free to contact me.