We are in the military and we have got orders to move in February. We have to sell our house and we don't really have time to fix it up. It is in pretty good shape but needs painting, new carpet, ect. I don't have the time to do much to it. Should I basically just sell as is and make a few allowances? How much allowance is a good amount for basic repairs. (the house has a great roof and good plumbing and a good working heating system) That is all I think really should matter anyway but does anyone have any advice for us.? We have to put it up for sale in 2 weeks. By the way we are first time sellers.
2006-09-19 10:24:43 · 7 answers · asked by D 3 in Home & Garden ➔ Maintenance & Repairs
Allowances should only be given for structural or (in some cases) functional items that need repair/replacement. Examples are
o leaking / old roof
o damaged siding
o broken or damaged windows
o water damage caused from leaking basement
Painting or laying down new carpet will make the house more attractive to a buyer. The only reason you should give allowances for paint/carpeting is if it's required for the house to be lived-in. In other words, your house was just flooded therefore requiring new carpet/paint.
What the buyer can and can't ask for in allowances should be carefully documented in the contract. You'd state in the contract that the house is stucurally sound and free of plumbing leaks, that all doors and windows close and latch, etc... If at final walkthrough, that's not the case, then you can expect the buyer to ask for allowances at closing.
I would strongly advise that you hire a lawyer (if you haven't already) to protect yourself from buyers that would want to have you make concessions late in the game once the contract and selling price have already been negotiated.
2006-09-19 11:54:25 · answer #1 · answered by g0at_cheez™ 3 · 0⤊ 0⤋
I had to sell a house for my grandmother's estate - while going through chemotherapy. The realtor advised me to 'just leave things like they are, people love to be able to make their own changes'. Of course, I didn't really have time to deal with any work, but it was the worst advice I could have followed. I finally fixed everything up after having having dropped and dropped the price trying to get a buyer. The house sold within 1 week of my finishing the fix-ups.
My advice - do cosmetic stuff so it looks good. It will make a lot more of an impact with most people than a slight drop in price.
2006-09-19 10:32:18 · answer #2 · answered by Iaean 3 · 0⤊ 0⤋
I think you should make allowances and try to fix it up some if time permits. Maybe give the buyer the option of choosing the color of carpeting and paint and hiring someone to do the work.
2006-09-19 10:28:56 · answer #3 · answered by Coastalchick 2 · 0⤊ 0⤋
If it is just cosmetics, don't make too many allowances. The cosmetics affect how long a house is on the market, not necessarily the selling price. Maybe a grand or so for new carpeting.
2006-09-19 10:27:58 · answer #4 · answered by just browsin 6 · 0⤊ 0⤋
Hire a realtor. He/She will be able to lead you through all of this. They can be worth the commission. They will go through and let you know what you will get for the house and what allowances you will need to make for paint/carpet, etc.
2006-09-19 13:12:56 · answer #5 · answered by Anonymous · 0⤊ 0⤋
I'd really try to find someone to help you clean it up. With sales at such a slow pace, you need to make it look nice. There are many more buyers that want a house they can move into, compared with buyers that want to fix one up. Can a friend or realtor recommend a reasonable painter, handyman?
2006-09-19 11:37:08 · answer #6 · answered by Papa John 6 · 0⤊ 0⤋
Carpet guy's will install quickly, I would paint and install the carpet it will be fast and help the sale everyone loves the smell of fresh paint and new carpet.
2006-09-19 13:29:30 · answer #7 · answered by Jack 5 · 0⤊ 0⤋