Recently received a call from my SOI for a consult on selling their home..
"Of course Id be happy to come over and talk with you...How is tomorrow at 11 or at 2?"
Scrambled to pull comps, researched their subdivision, and knew my DOM and sold stats......off I go.
Pull up to a home with less than desirable curb appeal, in a moderately priced neighborhood, and walked into a fully renovated kitchen with high end everything. In talking with the sellers to be, I mentioned that many upgrades aren't always value added, and they may not see a return on the $ that they may have expected. While we were doing the home walk thru I learned they had over the years renovated/upgraded everything,,, adding extra insulation, double pane windows and doors, new roof, , security system, surround system,powder room, Sheet rocked the garage,solar heated pool, hot tub, koi pond w/ pergola , tiled floor throughout and more....but it backs up to a major highway...
They of course want to get as much as they can, we discussed the hurdle of what amount the banks will loan money for as they will definitely be more than most all homes sold and are in a price range where it will be a financed transaction.
We can adjust for some of the upgrades, but what would it appraise for???
If you are like me, you want to get the most for your sellers in the fastest amount of time. Do you just take a stab at the price and cross your fingers you are right OR do you call in the experts?
We talked openly about the challenges ahead , offering different scenarios.
I suggested they have their home appraised.. They thanked me for my honesty and said they had a lot to consider.
Did they sign the listing agreement? Not yet.....but the appraiser is scheduled for next Monday!
What would you have done?