Selling a Home AS-IS can Cost Thousands

By
Real Estate Agent with Boardman Realty Minnesota License#90858

 

Most home sellers today do their homework. There is a vast array of information on how to prep a home to sell for top dollar on the internet and cable TV. Most savvy sellers have watched an occasional HGTV program or YouTube video showing how to stage a home and flip a house. They know that to get the highest price possible for their home, it will take a bit of elbow grease and organization. Sellers expecting optimal dollars need to understand that buyers want optimal condition.
 
Sometimes I still run into someone who balks at making repairs to their home. They say, “Let the buyer tackle that project. I want the home sold AS-IS.” 
 
Sometimes it does make sense to hold off on an expensive repair that would be nice but not necessary. These are more expensive cosmetic repairs like new siding or windows. However anything that would prevent a buyer from getting financing or insurance is a must like a new roof if the shingles are showing extensive wear or septic system if it is not compliant. These issues will not be overlooked by any buyer. 
 
Cosmetic and minor repairs will definitely reflect in what a home buyer offers on a property. Replacing doors with holes, broken glass in windows and settling cracks in a ceiling make a huge difference in a buyer’s perception of a home. Damage like this is always noticed by the buyers.
 
4 Reasons to Make Home Repairs Before Listing

 

  1. Less Buyer Distraction. Buyers will be able to focus on the positive attributes of your home rather than needed repairs.
  2. Homebuyers Inflate Repair Costs. My rule of thumb is: If it will cost a seller $100 to fix an issue, the buyer will ask for a $1000!
  3. Easier Negotiations. When a purchase agreement comes in, it doesn’t come with a “laundry list” of things the buyer will have to repair to justify the low offer.
  4. Faster to SOLD! Homes that are in optimal condition do sell quickly. Homes that need repairs often can sit on the mark for weeks or months longer waiting for a buyer willing to accept the home in its current condition. Longer market time can mean having to reduce the price significantly to keep buyers interested.

Need More Tips on How to Sell Your Home?

Posted by

Teri Eckholm. REALTOR with Boardman Realty, is a native Minnesotan who has lived and worked in the Minneapolis St Paul metro all of her life. She specializes in lakeshore homes, acreage properties and first time home buyers but assists anyone making a move in the north and east Twin Cities metro.

If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give Teri , a call or visit her website for a FREE Home Buyer Success Guide or FREE Home Value Report She specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

Copyright 2019 terieckholm.com

 

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Tracy Santrock
Fonville Morisey/Santrock Realty Group, Inc. - Cary, NC
Raleigh - Cary Realtor/Broker In Charge

You are absolutely correct.  Buyers want homes that are move-in ready.  They do everything they can to scrape up a downpayment and will choose homes that reflect this.

Nov 08, 2013 10:35 PM #1
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Teri Eckholm

REALTOR Serving Mpls/St Paul North & East Metro
Looking to buy or sell in the Twin Cities? Contact Me Today!
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