Our Denver real estate market has been a STRONG Seller's market now for 4 plus years and Sellers are seeing double digit equity every year. With that comes with additional issues -
- Sellers know they can sell their home so deferred maintenance is not done
- Sellers know they can sell their home to cleaning goes by the wayside
- Sellers know they can sell their home and buyers possibly pay over the appraised value, so they demand high sales prices
This morning, we have a 9% fallout rate!
Dear Sellers, my advice is always - clean, clean and do more cleaning! Correct those items like water leaks in the sinks, and if those windows don't close and lock - FIX THEM! Know something in your home that doesn't work? FIX IT! Do not give the buyers a reason to get out of the deal!
Our contracts give the Buyers a subjective termination clause for inspection and why have that option? Be prepared when you list the home! Correct any and all issues you already know about, that the buyers will discover at inspection! Buyers do not have to give a reason to terminate!
When Buyers pay more for a home than they are comfortable with, then the inspection reveals more deferred maintenance or issues than they expected, those initial feelings of excitement will go by the wayside.
Dear Sellers - would you want to fall in love with a home that needs lots of deferred maintenance?