Once the "stay at home" orders were lifted, and we were again allowed to show homes, buyers came out of the woodwork. The Denver metro area market was good prior to COVID, and is once again a strong Seller's market. Some Sellers are still nervous about putting their homes on the market and having a risk of the virus being brought into their homes. There are not enough listings on the market in the average to below-average price ranges and are seeing multiple offers on homes that show well.
Sellers are asking top dollar for homes when they have been remodeled, and we are seeing some that look good on the surface, but the inspections are revealing areas that were missed or dismissed. Because of the lack of listings, Sellers are feeling they can command high prices, and if one or two buyers walk, they WILL keep one to move forward to closing. In Colorado, these issues are required to pass on to the next buyers. If the Seller/REALTOR have the knowledge, they have to disclose.
Had an inspection performed this past weekend, where all the mechanicals are past their life span, leaks from plumbing into the crawlspace and electrical issues. The listing agent has already shared the Seller will be reluctant to do anything.....wonder if he knows what he has. This property was a rental, but he should know how old the mechanicals are. The inspector said the furnace filter looked like it had not been changed in DECADES, and was so gross! Reminds me of lipstick on a pig!
It will be interesting to see what the end results shall be and hope the Seller will realize these items will be in the forefront with every inspection.