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Saturday, March 19, 2016

Home Seller Tips: Selling an "Imperfect" Home

Homeowners often view their home much like they view their children....if not perfect at least as close to perfect as possible! 
 
When homeowners become sellers they often fail to shift their view from that of proud owner to prospective buyer.  And this can become an obstacle to the selling process.

There are a couple of characteristics a seller can not be change when it comes to pricing a home for the market.  The first is location.  The other, while it may change over time, is the competition. 

One characteristic that can be changed (although very often not) is a home's condition.
 
How does a seller know for sure the condition of their home? 

Sometimes seller know (or its obvious) this issues.   If the house is older I suggest sellers consider having an inspection done prior to listing the home.  This will either serve to verify the home's condition or bring to light issues that can be evaluated.

Read: Should Sellers Have a Pre-Listing Inspection?

What if a house has some issues?   
If they are known right away, decide whether the fix is worth it.  Some fixes are worth the effort if they increase the options for buyers (i.e. allows more types of financing options).  Some issues do not impact the ability for a buyer to obtain financing so the seller needs to look at the issue through the prospective buyer's eyes.

Sometimes the circumstances of the sale (health, death, estate) or available funds preclude the repair.  
If repairs are made, great.  

If repairs are needed, disclose them

Regardless, repairs needed or made must be considered when establishing the price.   Even if the price for repairs are considered in establishing the marketing (listing) price sellers should expect buyers to attempt additional deductions for repairs when they make the offer.

Buyer agents should educate their customers that if a house is priced for its REAL CURRENT CONDITION then attempting to negotiate with additional deductions is not a desirable tactic in a market that favors the seller. 

One final note about repairs...  

The question often arises as to whether a seller should obtain estimates for repair they will not be making.  This is entirely up to the seller. If time permits and the estimates are free, why not?  This may allay some concern prospective buyers have about the issues. 

Either way, the rule to follow is disclose all.  

If a pre-inspection has been done, make the report available.  If there are issues, tell the world up front.  Full disclosure protects the seller as well as prevents unnecessary showings when the issues are deal-breakers.

Ready to sell your Viera, Florida home?  Call or text me at 321-693-3850 if I can assist in any way.

agent@moving2brevard.com

Image courtesy of Stuart Miles at FreeDigitalPhotos.net

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