Special offer

Updated Home For Sale?? That's what you think!

By
Real Estate Agent with Keller Williams Realty

We see it time and time again!  Beautiful home totally updated, bring your buyers!  Have you seen that?  Well, I had this wonderful first time couple expecting their first child.  We found them their perfect updated home in older established community.  Inspections are done and lo and behold we find out that neither the gas hot water heater nor the central heating unit will lite.  We are shown pictures of how corroded the heating unit is and there is no rhyme or reason as to why the hot water heater won't work, it is getting gas to it. Oh, and the roof has hail damage too.

Attn Investors:  If you are going to update a home, do it from the inside out.  Start with the major items in a home that will affect the Buyers the most; ie: HVAC, Roof, HWH, do I need to go on?  Cosmetic repairs are wonderful, but the unsuspecting buyers are thinking (along with most realtors) that updates are more than just cosmetic. And for heavens sake, please fill out the Sellers Disclosure Notice, you may think you are exempt, but are you?  By disclosing everything in the home that you have taken time to do only increases your credibility as an Investor who truly knows what you are doing!

Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

In Wisconnsin sellers are required to complete a condition report....and as part of our interview with agents before we ever show a buyer...we run thru the mechanicals list...first timers can afford paint...roof, water heater, ac...not sooo much !

Feb 08, 2009 12:17 AM
Lynn Grimes
Keller Williams Realty - Garland, TX
ABR,SRES,GRI,IRES

Good points!  In Texas, investors strike through the Disclosure Notice and get away with stuff like this! On vacant homes where most of utilities are turned off, it is hard to go through a systems check prior to an offer,and most do not until after writing one, negotiating and finalizing the it first!  Thanks for your comments!

Feb 08, 2009 12:27 AM
Kelly Young
The Platinum Group Realtors - Colorado Springs, CO
Colorado Springs Real Estate ~ 719-226-0126

What I appreciate about this is how I can lose credibility with my buyers who are really looking at me for knowledge, assistance and suppport.  Good reminder to help them with their expectations as they see a home that "looks" perfect and then find out what may be really going on.

Feb 08, 2009 12:30 AM
Cindy Edwards
RE/MAX Checkmate - Johnson City, TN
CRS, GRI, PMN - Northeast Tennessee 423-677-6677

This is so true-  good reminder to us all.

Feb 08, 2009 12:37 AM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Lots of people are doing shoddy and incomplete work in their updates, and then if it has one thing that's new, but everything else is old, it's still touted as being updated!

Feb 08, 2009 12:48 AM
SarahGray Lamm
Allen Tate Realtors Chapel Hill, NC 919-819-8199 - Chapel Hill, NC
Realtor - 100K Hours of NC Real Estate Experience

Amen! Just showed an 'updated' house that has been on the market for 200+ days and has a new $20,000 price drop. All new paint, inside and out, clean as a whistle, staged adorably...BUT, there were half a dozen broken seal windows, paint covering rotten deck boards, peeling formica counters in the Kitchen, bathroom counters the perfect height for a 3 year old and gutters so packed with decayed leaves they looked like planter boxes! PA-LEEESE.

Feb 08, 2009 01:34 AM
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Lynn,

I work with several investor/builders in this area and have often had this discussion with them.  Many times what they fail to realize is if I know something is broke or not working I am required to disclose this information. 

The moral: If I know it is broke, you better fix it :)

Going to family reunion this year?

Best wishes

Feb 08, 2009 11:47 PM
Liz Moras Migic
Chilliwack, BC
Chilliwack, British Columbia - Realtor

Oh another texan! love it......i just spent a week there are I've adopted it as my second home ;-)

Feb 10, 2009 04:09 PM
Gerry Khatchikian
Red Lodge, MT
ASA, TRC, SFR

Lynn,

This is a good post and a great reminder to be always alert whether a house is updated or not.  The word "updated" can have many different meanings depending of who is using that word.  I agree that all Sellers should fill out the Sellers Disclosure Notice and more agents should be requesting them.

Gerry's AR signature

Aug 28, 2009 12:21 PM