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Home Seller - Make Needed Repairs
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By Roselind Hejl
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Before a buyer considers your home seriously, it must meet hisneeds in many ways. It must be a suitable neighborhood,commuting distance, size, layout, etc. If most of these needsare met, the buyer will move toward making an offer for yourhome. The purchase decision is an emotional and intellectualresponse, based on a level of trust in your home. So, it islogical that in preparing your home for sale your goal should beto enable the buyer to build trust in your home as quickly aspossible. Your first step should be to address apparent andhidden repair issues.
Make a Complete List
Keep in mind that potential buyers and their real estate agentsdo not have the fond personal memories and familiarity that youhave with your home. They will view it with a critical anddiscerning eye. Anticipate their concerns before they ever seeyour home. You may look at the leaky faucet and think of a $10part at Home Depot. To a buyer this is a $100 plumbing bill.Walk through each room and consider how buyers are going toreact to what they see. Make a complete list of all neededrepairs. It will be more efficient to have them all done atonce. Use a handyman to fix the items quickly. If your house isa fixer-upper, keep in mind that most buyers will expect to makea profit that is substantially above the cost of labor andmaterials. When a house needs obvious repairs, buyers willassume that there are more problems than meet the eye. Take careof repairs before marketing your home. Your home will sellfaster and for a higher price. Get an Inspection
It is a good idea to have your home inspected by a professionalbefore putting it on the market. Your may discover some issuesthat will come up later on the buyer's inspection report. Youwill be able to address the items on your own time, without theinvolvement of a prospective buyer. You do not have to repairevery item that is written up. For example, due to building codechanges, you may not meet code for handrail height, spacingbetween balusters, stair dimensions, single glazed windows, andother items. You may choose to leave items such as these as theyare. Just note on the inspection report which items you haverepaired, and which are left as is. Attach the report to yourSeller's Disclosure, along with any repair receipts that youhave. A professional inspection answers buyers questions early,reduces re-negotiations after contract, and creates a higherlevel of trust in your home.
Offer a Service Contract
A home service contract may be offered to the buyer for theirfirst year of ownership. For a fee of about $350 a third partywarranty company will provide repair services for certainsystems or components in the house for one year after the sale.These policies help to reduce the number of disputes about thecondition of the property after the sale. They protect theinterests of both buyer and seller.
Should You Remodel?
Our clients often ask if they should remodel their house beforemarketing. I believe the answer to this is no - majorimprovements do not make sense just before selling a home.Studies show that remodeling projects do not return 100% oftheir cost in the sales price. Normally, it does not pay toreplace cabinets, re-do kitchens, upgrade bathrooms, or addspace prior to selling. There is a fine line between remodelingand making repairs. You will need to draw this line as youreview your home.
Repair Decisions
Countertops are outdated: If other components of the house areup to date, the kitchen may be greatly improved by new, moderncountertops. Although this is an upgrade, not a repair, it maybe worth doing because the kitchen has a significant impact onthe value of your home.
Carpet is worn or outdated: Carpet replacement almost alwaysworth doing. Sellers often ask if they should offer an allowancefor carpet, and let the buyer choose. Do not take this approach.Choose a neutral shade, and make the change yourself. New carpetmakes everything in the house look better.
Wall texture is poor: You may have an outdated texture style oracoustic ceiling. In most cases, it does not make sense to stripand re-texture the walls. Just repair any wall damage or minortexture problems.
Walls need paint: This is a must do! Freshly painted wallsgreatly improve the perception of your home. Don't forget thebaseboards and trim. Use neutral colors, such as cream, sagegreen, beige/yellow, or gray/blue. Stark white, primary colorsand dark colors do not appeal to a wide market, and may be anegative factor.
Bathroom caulking is dirty: Put this on the must do list.Cracked or stained caulking is a turn-off to buyers. It iseasily replaced. Make sure the tile grout does not have voids.
Drainage or leak problems: Address any drainage issues or leaksin plumbing or roof. Use professional help to correct the sourceof the problem and check for mold. Fully disclose the repair onyour sellers disclosure, but avoid giving a personal guaranteeof the repair.
Structural and trim repairs: Fix any sheetrock holes, damagedtrim, torn vinyl, broken windows, rotten wood or rusty fixtures.Homes sell for more that show a reasonable level of maintenance.
Overgrown shrubs and weedy beds: Repairs to the yard are some ofthe most cost effective changes you can make. Mow and edge thelawn. Add inexpensive mulch to flower beds. Cut back any shrubsthat cover windows. Trim tree branches that rub against theroof. Buy new doormats. Replace dead plants. Remove any trash.
Check HVAC, plumbing and electrical systems: These systems needroutine maintenance. Have the heat/AC system serviced andfilters changed. Check for plumbing leaks, toilets that rock,corroded water heater valves, and other plumbing problems.Replace burned out bulbs and electrical fixtures that do notwork. Check your sprinkler system and pool equipment forproblems.
Make Needed Repairs
If you are planning to sell your home, your first step should beto discover and make needed repairs. By making repairs you willanswer buyers questions early, build trust in your home morequickly, and proceed through the closing process with fewersurprises. Your home will appeal to more buyers, sell faster,and bring a higher price.
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