I getted asked all the time when selling an existing home, "Should I fix it or just give the new buyer an allowance to fix it themselves?" My opinion is to fix it or update it whenever possible. Most buyers need to fall in love with a property before the reluctance of making an offer is overcome. If you are selling a home, fix everything you can, update everything you can, within reason of course. If you don't and if you are lucky enough to get an offer, a buyer will negotiate based on comps, their desire, and their pocket book. A buyer will tend to overestimate the cost of the update or repair needed and then deduct that amount from the offer they make. This leads to a wider gap between the owners asking price and the buyers bottom line. Right from the get go negotiations will be more difficult. Most buyers think the allowance is too low and they don't want to do the work anyway. A professional REALTOR will be able to help you assess what repairs/updates are needed to get the highest price for your home. A cost/benefit analysis is important to do upfront. There is a correct balance to maximize your homes potential and get a top dollar offer.
If you'd like to speak in more detail about preparing your home for sale feel free to call or text me (402) 740-2744. I am happy to tour and help you understand what to do to sell for top dollar. After hundreds of home tours and sales I can steer you in the best direction.
Thanks for reading!
Sincerely,
Rich Bak
RE/MAX The Producers
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