I want to sell my home. Here is an issue: We originally bought the home in good shape but we rented it out and

Question

The renters did not care for the home. We lived out in Arizona, so we couldnt check on the home as much as we should have. We were out for 3 years and they were NEVER late on the rent. But many things happened. They broke our furnise, I think thats how you spell it, our heating unit. How will this affect the selling of my home? If you need more info, I will post under additional comments.

Answer 1

Have your realtor get their "handyman for hire" and go through and fix up the house including the furnace. In the end, you should get more out of the house with the items fixed than leaving them undone.

Answer 2

I don't know what state the house is in, but many states require that the heating be in working order before sale. You may need to replace the furnace. If you can replace the furnace, you can write it off against the income you make from the sale. Usually people want a home to look as good as possible to sell it to get the highest price. Since you don't seem to live in the same area as the house, perhaps you don't care about that.

I wouldn't think that the tenants would have broken the furnace. Maybe a thermostat could be broken, but furnaces have things that go wrong as they age. Sometimes its something that can be replaced by a part, sometimes you have to get a new furnace.

Find a good realtor and they will help you with these questions.

Answer 3

First off, when renting you should have a contract drawn up advising the renters their responsibilities for damage beyond the normal wear and tear. Not sure if you did that but if you did and they broke the furnace irresponsibly, you may be able to sue them.

When selling a home it is best to either sell the home in full repair, in other words tip top shape. If there are damages included in the sale, they must be presented upfront. If anything is found out that has not been disclosed prior to closing, any deal you make may and probably will fall through.

Answer 4

Use their security deposit to fix the home!

Fix it asap! Learn to do it yourself if you can. Also make the kitchen and bathroom as clean and nice as possible! You will also want curb appeal...so make the front yard look nice.

Don't sell the house when it's empty! Go to RentaCenter and rent a few pieces of furniture if no one is in it. RentaCenter is fairly cheap and you can send it all back when the house sells.

Use a broker, not an agent! Unless, you find a really GOOD agent who's willing to work hard for you. Many agents don't do a good job... so I recommend the owner/broker of the company you choose to assist you with the sale.

Good luck!

Answer 5

First of all, I hope you got a security deposit. Anyways, the furnice is something you have to have fixed. You can't get away with not having it fixed, UNLESS your buyer is willing to take that into acccount when negotiating for a final price. However, you are leaving yourself open to trouble. I would honest fix it. Actually, I would replace it and write it off on your taxes. Fixing things don't get written off, especially for something like that because the IRS assumes that you have to do that ANYWAYS. To REPLACE it totally would be a tax write off. Also, it would be a larger incentive to buy the home. The more new stuff you have, the more attractive your home will be to buyers.

Whatever they have done to your home, I would fix it. Don't put in anything expensive, just clean it up, paint and fix the basic things. Don't do anything fancy. Clean and neat. You want to fix up your place for as cheap as possible. Do the minimal amount of work. You will not get away though with a broken furnace.

Answer 6

If you can prove damage other than normal wear and tear on your furnace you may have a claim I take it you are selling the home while it is still rented out as a going income making concern if so forget about the furnace as they will need it when cold and the new buyer is under the let the buyer beware .

Answer 7

You're going to need to get that fixed. Most lenders will require an inspection and won't approve the loan until the home is in good repair and fit for habitation.

How did you come to the conclusion that your tenant broke the furnace?

Answer 8

that is not dazzling. that could be a delusion that determining to purchase is often extra effective. purchase vs. hire. As housing marketplace stoop, that is extra easy to calculate "hire vs. purchase" state of affairs. because of the fact "appreciation" is not a ingredient. own loan charge includes 2 aspects: hobbies and central. hobbies are like hire, which does not upload to the fairness on your place. It purely disappear as your pay it. If hobbies element of the interior maximum loan charge is style of equivalent to hire of equivalent sources, then that could be a respectable purchase. for occasion, enable's purchase a $500,000 apartment with 0% down and prepare hobbies purely own loan (purely like renting a place). own loan charge may be $3250/month. that could be a bad purchase, because of the fact which you could savour comparable sources for $2000/month. Please word that i assume the tax reward from domicile cancel out expenditures from domicile association and sources tax. For extra precise calculation, seek for advice from with your CPA or accountant. yet not your realtor, whom will say something to get the deal to head by using. And lower back, in case you like a definite sources, then paying extra could be sensible. you're the only person who can settle on how a lot extra top classification you're prepared to pay.

Answer 9

Get it fixed now, and save the headache later. You'll have to fix it once the buyer has an inspection, so doing little things now will help you get top dollar.

Answer 10

you either take a real beating on the price or you fix everything and get a good price, according to where its located ofcourse. its furnace.