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Asking RE pro's out there. If a person could not for a number of reasons - ill health, financial restraints etc., get their house in tip-top condition for sale, what might they expect to sell the house for?
For example - based on local sales, the house in pristine condition, would sell for $350,000. City is a big draw and selection is low. Sales and rental market extremely tight and expensive.
House is well maintained, mature landscape, desirable neighborhood etc.
But house cannot be brought to current expectations - no kitchen remodel, no remodeling of any kind really. Everything is clean, in working order and appliances are within the last 2-15 years - all in good condition. Countertops fine, but 25 years old. Flooring in kitchen and bathrooms - ditto.
Appliances all white. Kitchen cupboards painted white. No pulls.
Newish vinyl windows (15 years?)
No horrible wall paper anywhere. Neutral paint everywhere. Needs a few touchups.
New roof (6 years)
New furnace and A/C - 2 years
Carpeting throughout that can be replaced with wood (like) flooring, but that's about it.
Nicks and chips around, but nothing major. Some can be fixed.
Light fixtures dated but working fine.
If asking $350 with deficiencies listed above, what might a good offer be?
Probably not answering all questions, so feel free to ask.
Asking RE pro's out there. If a person could not for a number of reasons - ill health, financial restraints etc., get their house in tip-top condition for sale, what might they expect to sell the house for?
For example - based on local sales, the house in pristine condition, would sell for $350,000. City is a big draw and selection is low. Sales and rental market extremely tight and expensive.
House is well maintained, mature landscape, desirable neighborhood etc.
But house cannot be brought to current expectations - no kitchen remodel, no remodeling of any kind really. Everything is clean, in working order and appliances are within the last 2-15 years - all in good condition. Countertops fine, but 25 years old. Flooring in kitchen and bathrooms - ditto.
Appliances all white. Kitchen cupboards painted white. No pulls.
Newish vinyl windows (15 years?)
No horrible wall paper anywhere. Neutral paint everywhere. Needs a few touchups.
New roof (6 years)
New furnace and A/C - 2 years
Carpeting throughout that can be replaced with wood (like) flooring, but that's about it.
Nicks and chips around, but nothing major. Some can be fixed.
Light fixtures dated but working fine.
If asking $350 with deficiencies listed above, what might a good offer be?
Probably not answering all questions, so feel free to ask.
Thanks for any input.
That's an excellent question for an experienced agent who really knows the comps in your area.
We honestly can't make even an educated guess from here, not knowing which market the home is in and not seeing recently sold prices.
All real estate sales are "as is." You disclose everything in the sale.
Read through an actual contract.
Everything will be accounted for.
Nothing really to "disclose".
Stair banister needs a fresh coat - pretty obvious.
Track lighting not so modern - pretty obvious.
Dining room fixture - dated. Again obvious.
There is nothing to hide that can't be seen in a simple walk-through. All the basics are safe, well maintained and up to date. It's just the aesthetics as viewed through "I want everything new and updated" eyes.
Stair banister needs a fresh coat - pretty obvious.
Track lighting not so modern - pretty obvious.
Dining room fixture - dated. Again obvious.
There is nothing to hide that can't be seen in a simple walk-through. All the basics are safe, well maintained and up to date. It's just the aesthetics as viewed through "I want everything new and updated" eyes.
1. What you need to disclose is in the disclosures questionaire. You may not know all that is in it.
2. As noted, a real estate agent familiar with the area can give you a competitive market analysis.
3. The discount for "not new and trendy" is probably not very much, especially if an older house where original features might actually add value.
4. None of this will stop someone from making an offer that claims they should subtract the cost of a new kitchen and new AC.
That's an excellent question for an experienced agent who really knows the comps in your area.
We honestly can't make even an educated guess from here, not knowing which market the home is in and not seeing recently sold prices.
I'm asking here as I know a local agent will be anxious to get the house in perfect condition for the highest price. I just want to hear educated guesses as to what the "discounts" would be on a $350K house without all the bells and whistles.
Market is Portland, Oregon. House is built in 1982 and 4 miles ( no freeways or bridges) from downtown.
Location: Finally the house is done and we are in Port St. Lucie!
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Honestly, there will be a buyer that will love fixing up the place to their taste. One would think that if all important items are in good condition, aesthetics shouldn't make a big price reduction automatic.
A good agent can help you determine what it should be listed.
Honestly, there will be a buyer that will love fixing up the place to their taste. One would think that if all important items are in good condition, aesthetics shouldn't make a big price reduction automatic.
A good agent can help you determine what it should be listed.
Good luck!
Good to know! That's exactly what I did when I bought the place in '92. I painted, added on and made it my own. Right now, I just can't afford to bring everything ( or even most things) up to current expectations. The best I can do is move everything out, clean the bejabbers out of it and see what happens.
Reading your comment above... no, not all agents will recommend you do a bunch of work. We sell homes that need updating too!
You need a local agent to come out and tell you what it will bring in your market. It's impossible for us to accurately price a home we've never been in, in an unknown market.
Asking RE pro's out there. If a person could not for a number of reasons - ill health, financial restraints etc., get their house in tip-top condition for sale, what might they expect to sell the house for?
For example - based on local sales, the house in pristine condition, would sell for $350,000. City is a big draw and selection is low. Sales and rental market extremely tight and expensive.
House is well maintained, mature landscape, desirable neighborhood etc.
But house cannot be brought to current expectations - no kitchen remodel, no remodeling of any kind really. Everything is clean, in working order and appliances are within the last 2-15 years - all in good condition. Countertops fine, but 25 years old. Flooring in kitchen and bathrooms - ditto.
Appliances all white. Kitchen cupboards painted white. No pulls.
Newish vinyl windows (15 years?)
No horrible wall paper anywhere. Neutral paint everywhere. Needs a few touchups.
New roof (6 years)
New furnace and A/C - 2 years
Carpeting throughout that can be replaced with wood (like) flooring, but that's about it.
Nicks and chips around, but nothing major. Some can be fixed.
Light fixtures dated but working fine.
If asking $350 with deficiencies listed above, what might a good offer be?
Probably not answering all questions, so feel free to ask.
Thanks for any input.
From my experience in selling my own home that was nearly 100 years old, it is all about location. I sold my house as is. Purchased it in 1998 and sold it in 2015. It had a new water boiler, I had repaired the sidewalk and steps about 7 years prior and a new fence in the backyard, Pergo floors in 2003. I put in some new kitchen cabinets when I purchased it in 98. No bathroom remodels, paint was a few years old. Market was hot and the neighborhood homes were selling like hotcakes. Like yours, mine was well maintained but not necessarily updated. When I asked my realtor if I should invest in some updates, he said no, it will sell as is. In 10 days of showing I had 5 offers. Again, the neighborhood was desirable. It was a 1200 sq ft home with 1 large bedroom and 2 small bedrooms and barely any closet space. I sold it for 3x what I paid for it. I accepted the highest offer and it was $5,000 less than the asking price. I took the money and ran!!
Your realtor will tell you what the home is worth with and without the updates.
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