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Having an inspection this week on a house to be placed on mkt. I can repair any main issues before any buyer ever sees the place.
BUT... I don't want to get into too much....
What do you think of an allowance to buyer for repairs...taken off of sell price, prior to finalization of contract? Are there any guidelines to follow for doing this??
Don't do anything more than clean and basic stuff oil squeaky hinges. If carpet is trashed get new carpet. You can always give the info the seller will give credit of x dollars for carpet as info to agent to disclose. Personally I would replace carpet. Otherwise I would let the buyer do his inspection. When he comes up with whatever negotiate it as credit after close of escrow on the amount of x dollars. This way he's not getting crap till after he buys the place. And that amount is negotiable
I'm sure others will have a different opinion but I don't think it makes sense to have a pre-listing inspection done. You are probably already aware of anything that is wrong and those things you can have fixed. If you have the pre-list inspection and the inspector discovers things you didn't know about, you now either must fix them or must disclose them because you now have knowledge of them. If you wait until the buyer does their inspection, they can find whatever they find and you can negotiate over the repairs. As an agent, yes, I like selling a perfect house but as a seller, I don't need to spend money needlessly. just my opinion...
Re: offering a credit...I think most buyers will want things repaired by a reputable tradesman but who knows? Some like it one way and some like it the other.
I think there is going to be issues with sub-flooring due to a leak...will see what inspection shows...
Quote:
Originally Posted by Electrician4you
Don't do anything more than clean and basic stuff oil squeaky hinges. If carpet is trashed get new carpet. You can always give the info the seller will give credit of x dollars for carpet as info to agent to disclose. Personally I would replace carpet. Otherwise I would let the buyer do his inspection. When he comes up with whatever negotiate it as credit after close of escrow on the amount of x dollars. This way he's not getting crap till after he buys the place. And that amount is negotiable
I'm sure others will have a different opinion but I don't think it makes sense to have a pre-listing inspection done. You are probably already aware of anything that is wrong and those things you can have fixed. If you have the pre-list inspection and the inspector discovers things you didn't know about, you now either must fix them or must disclose them because you now have knowledge of them. If you wait until the buyer does their inspection, they can find whatever they find and you can negotiate over the repairs. As an agent, yes, I like selling a perfect house but as a seller, I don't need to spend money needlessly. just my opinion...
Re: offering a credit...I think most buyers will want things repaired by a reputable tradesman but who knows? Some like it one way and some like it the other.
Hubby and I discussed this issue. I told him that doing our own inspection was a bad idea. I had thoughts about what might be wrong with our house but didn't want to have that in writing. I don't know if KY requires disclosure but I didn't want to find out.
Buyers inspection turned up no issues. Either they had a poor inspector or what I thought were issues were not.
I think its a function of how sophisticated the buyer and seller are
As a buyer, my motivation is to approach the pre-sales inspection like an ISO 9000 audit. For each thing I find wrong, that's money off for me. I'll be there for HOURS.
As a seller, perhaps you get lucky and your buyer is so taken with the curb appeal and the school district, they don't bother to notice the dead electrical outlets in the den and the leaky washer in the laundry room. But shame on you if the roof leaks and a family of racoons lives in the attic, and you pretended not to know.
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