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Old 11-23-2018, 10:26 PM
 
Location: Brentwood, Tennessee
39,676 posts, read 38,271,867 times
Reputation: 74941

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Quote:
Originally Posted by RamenAddict View Post
I disagree on replacing the carpet. Many people donít want carpet at all and would rather not have to rip out a brand new carpet or pay a marked up price to get a carpet they donít want. Simply get it professionally cleaned and then allow the buyer to decide what type of flooring they want to put in. My sister just bought a new home and it had new carpet over an old asbestos flooring that had to be removed, so it was basically just extra costs for removal/disposal of the carpet on top of the asbestos flooring. The walls are definitely worth it to repaint a nice neutral though.
Yes, it really depends on what is happening in the local market, and a good agent can best advise that.

If it's a working-class area where people are just looking for a nice livable house, then clean it and leave it. If it's an area where the upwardly mobile are trying to impress each other with HGTV influences, then good luck.
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Old 11-24-2018, 04:42 AM
 
Location: Florida
18,434 posts, read 18,719,339 times
Reputation: 21200
keep in mind the op mentioned giving an allowance (for the floors, the painting should be done)
If the sellers shell out for new carpet and the buyer rips it out, they've both lost
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Old 11-24-2018, 04:53 AM
 
2,214 posts, read 1,192,888 times
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Don't offer anything, let the buyer ask. If the items are in acceptable condition leave as is and let the buyer decide if they want to ask for something.

Many people don't want carpet, it isn't going to kill a deal units it's a total mess. Even then, easy to fix.

Paint is the same. They'll probably repaint anyway.
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Old 11-24-2018, 09:08 AM
 
441 posts, read 318,133 times
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I have a house full of tile that has grout problems due to either a poor installation job or long dog nails, or more likely a combination of both. I've regrouted a small area without much success (and I've done a lot of tile work over the years). If we replace it while we're still here and a couple years out from moving, we'll go with wood that makes us happy. If circumstances preclude us from replacing it before that, I'm leaning toward an allowance for replacement.
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Old 11-24-2018, 09:15 AM
 
7,546 posts, read 3,823,077 times
Reputation: 10440
Quote:
Originally Posted by aridon View Post
Don't offer anything, let the buyer ask. If the items are in acceptable condition leave as is and let the buyer decide if they want to ask for something.

Many people don't want carpet, it isn't going to kill a deal units it's a total mess. Even then, easy to fix.

Paint is the same. They'll probably repaint anyway.

Same here. I might cheaply paint for the "new paint smell" but wouldn't offer any special "allowance". They can factor it into their offer. They will anyway, allowance or not, so why pay the double dip?
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Old 11-24-2018, 09:23 AM
 
Location: Denver CO
19,237 posts, read 10,277,411 times
Reputation: 28154
Quote:
Originally Posted by RamenAddict View Post
I disagree on replacing the carpet. Many people donít want carpet at all and would rather not have to rip out a brand new carpet or pay a marked up price to get a carpet they donít want. Simply get it professionally cleaned and then allow the buyer to decide what type of flooring they want to put in. My sister just bought a new home and it had new carpet over an old asbestos flooring that had to be removed, so it was basically just extra costs for removal/disposal of the carpet on top of the asbestos flooring. The walls are definitely worth it to repaint a nice neutral though.
I agree with this.

Fresh paint yes, because even if the new owner wants to re-paint to their own preferred colors, they don't have any extra issues or hassles in painting over even a new paint job. And they might decide to live with neutral for a while anyway.

But flooring is different. I wouldn't care how new the carpeting was in the main living area, it would be coming up before I moved in, to get replaced with hardwood. So it's a waste of your time and money, and the price I'd be willing to pay would be based on knowing I was going to have to re-do the floors anyway. And then the issue of a houseful of new carpet and pad ending up in a landfill. Get the carpets cleaned and then price accordingly for a house with 14 year old carpeting. You can mentally consider it a "flooring allowance" if that makes it more palatable to you
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Old 11-24-2018, 09:58 AM
 
Location: Florida -
8,326 posts, read 10,115,122 times
Reputation: 15325
Interesting question faced by many with a similar quirk: They will live for years with dirty, faded, worn-out paint, carpet and other defects. Then, upon deciding to sell, they suddenly recognize most buyers would not want to buy or live-in a property in that condition. So they wind-up paying for the renovation needed to sell it, yet, never enjoy living with the benefits.

In the OP house, it's probably reasonable to assume that the carpet and paint are only the most immediately obvious things that need to be repaired, replaced or upgraded. Thus, to only correct one deficiency, will likely only draw attention to another (cabinets, counters, window treatment, etc.). IOW, the overall house is probably going to be seen as a 'fixer-upper' by most buyers, rather than a 'ready-to-move-in' property.

In this case, it is probably best to leave the property as it is - and negotiate from there, without initially offering a carpet or paint allowance. The ads could invite potential buyers to 'make an offer,' recognizing that some work/negotiation is necessary. Then wait and listen for a while - for the buyer response. (Of course, another major factor will be the condition and sales price of other homes in the immediate area).

This strategy will leave one in a position to allow the immediate market to determine what it will really take to sell the property for the greatest seller return.
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Old 11-24-2018, 10:34 AM
 
Location: Brentwood, Tennessee
39,676 posts, read 38,271,867 times
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Quote:
Originally Posted by jghorton View Post

(Of course, another major factor will be the condition and sales price of other homes in the immediate area).
This ^^^ is absolutely one of the most important considerations.

If all the comps are in move-in condition, then the OP's house will most likely be seen as a fixer-upper and will either linger on the market or get low offers.

A good agent will know the best strategy and help them prevent any kind of "wait and see what the market says" misery.
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Old 11-24-2018, 11:16 AM
 
Location: Raleigh NC
7,943 posts, read 6,258,248 times
Reputation: 7056
the first question is - "will lenders allow the seller to provide an 'allowance' suitable to get the job done to the Buyer?" Allowances are largely a thing of the past, but you can give them the same amount in closing costs, up to a % of price limit.

knowing that critical information, your next question is "how much would it cost to do this stuff?"

THEN you can find out from various agents what effect it has on selling - time on market or price.

then you can figure out the best thing to do.
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Old 11-24-2018, 12:17 PM
 
549 posts, read 192,288 times
Reputation: 1801
As a seller - I would paint and re-carpet.

As a buyer - I would prefer an allowance so I could chose my own paint and carpet.

If a home is well taken care of, I would not care about older carpet and paint. Same goes for appliances.
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