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We're eight years into a home we overpaid for (bubble). We'd like to move to be closer to family, but don't have a ton of time or money to put into fixing up the house to sell. Plus, our house is never neat. We homeschool our four kids, cook all our meals at home, and have four pets. There's no way our house is ever going to look "ready to sell."
Plus, I have to admit, putting a lot of money we could use for a down payment on our next house into cosmetic fixes, just so someone else can live here (or to pad our realtor's commission?), kind of irks me.
It's a good solid house, no major issues, in a good neighborhood
So, what are the downsides of putting it on the market "as is"? The worst that would happen, I would think, is that no one bites. Right?
Listing a home as-is indicates that you may know there are things wrong with the house, beyond the cosmetic (messy, dinged floors or crayon all over walls). When I see a listing say as-is, it translates to major deferred maintenance. It's better to not say that, and negotiate on the price/inspection items as they come in. I've seen wonderful houses that needed updating and they were priced appropriately and snapped up.
Our agent advised against it only because it sends out red flags to many buyers who as others have said may think it means there are problems you've ignored or don't want to deal with. You can price it to sell and just indicate during the negotiation phase that you aren't upgrading/making certain repairs. That's what we ended up doing, and we spent less than $1K on repairs.
If your house really is fine in all the important areas, then really consider making the effort to clean it up, take a short break during homeschooling, since you have that flexibility, and make an effort to get it as close to "show ready" as you can. Do you know anyone who can keep the pets for a short term during showing?
It doesn't have to look like a model home, but just the way you described it, with 4 pets, made me very nervous about its condition.
If you can take a month to make it NOT look like you homeschool 4 kids and have 4 pets lol it could pay off for you.
Are you at least in an active market?
Last edited by BirdieBelle; 09-01-2017 at 09:39 AM..
Reason: typo :(
Listing a home as-is indicates that you may know there are things wrong with the house, beyond the cosmetic (messy, dinged floors or crayon all over walls). When I see a listing say as-is, it translates to major deferred maintenance. It's better to not say that, and negotiate on the price/inspection items as they come in. I've seen wonderful houses that needed updating and they were priced appropriately and snapped up.
Ah, okay--that makes sense. Thank you! We could do minor things--clean, fix dings, etc. but the things our (maybe) realtor has suggested (new windows, new carpet, full indoor paint job) just seem unrealistic. Our house has sold quickly (less than six weeks) the last two times it's sold. I'd like to see what might happen if we just put it on the market without all these expensive (and maybe unneccesary) cosmetic fixes.
Ah, okay--that makes sense. Thank you! We could do minor things--clean, fix dings, etc. but the things our (maybe) realtor has suggested (new windows, new carpet, full indoor paint job) just seem unrealistic. Our house has sold quickly (less than six weeks) the last two times it's sold. I'd like to see what might happen if we just put it on the market without all these expensive (and maybe unneccesary) cosmetic fixes.
New windows? Please. That's one of the most expensive renovations you can do and not necessary to sell. Just price it with the existing windows in mind.
New carpet? It would be nice, but again ... have it professionally cleaned and price it with the condition in mind.
Interior paint job? That may be worth looking into. Paint can make a home look SO much better, especially if you have every room painted a different color, and it doesn't have to be expensive. If you can't paint it yourself, ask around for recs for an affordable painter.
carpet that you've worn out and interior paint that looks bad (assuming your 4 kids and pets are as rough as my 2 kids and a pet) - yes, those are cosmetic fixes and have very little affect on the APPRAISED value of your home. They do affect the MARKET value, as you're relying on a Buyer to determine the value to them of having to or not having to undertake what look like "must-do's".
As to padding your Realtor's commission, if you spend $10K on carpet and paint, and achieve anywhere from $1 to $10,000 more for the home, you're not padding their compensation because they eventually earn $0.03 to $300.
It is very true that Buyers - and oftentimes their agents - look at a house in poor cosmetic condition and wonder "If the Sellers haven't done anything about the stuff they see every day, what have the Sellers ignored that they don't see?"
Our agent advised against it only because it sends out red flags to many buyers who as others have said may think it means there are problems you've ignored or don't want to deal with. You can price it to sell and just indicate during the negotiation phase that you aren't upgrading/making certain repairs. That's what we ended up doing, and we spent less than $1K on repairs.
If your house really is fine in all the important areas, then really consider making the effort to clean it up, take a short break during homeschooling, since you have that flexibility, and make an effort to get it as close to "show ready" as you can. So you know anyone who can keep the pets for a short term during showing?
It doesn't have to look like a model home, but just the way you described it, with 4 pets, made me very nervous about its condition.
If you can take a month to make it NOT look like you homeschool 4 kids and have 4 pets lol it could pay off for you.
Are you at least in an active market?
Okay, so "as is" in the description is out. Thanks for the input. We're in an improving market in a neighborhood that's appreciating. It's an active military area, so there are always plenty of people in and out. Plus, the rents around here are extremely high, so buying is always an attractive option.
The house is really in pretty good condition (despite the kids and pets). It's just the realtor who's making me nervous with all his "do this/do that" advice. His wife was our buyer's agent, and I liked her, but I'm not sure I trust his judgement. A few more realtor opinions might be in order. Thanks again.
New windows? Please. That's one of the most expensive renovations you can do and not necessary to sell. Just price it with the existing windows in mind.
New carpet? It would be nice, but again ... have it professionally cleaned and price it with the condition in mind.
Interior paint job? That may be worth looking into. Paint can make a home look SO much better, especially if you have every room painted a different color, and it doesn't have to be expensive. If you can't paint it yourself, ask around for recs for an affordable painter.
More great advice.
I'll add one more. If you explained your situation and feelings to your realtor and she still suntested new windows, I'd likely be looking for a new realtor.
New windows? Please. That's one of the most expensive renovations you can do and not necessary to sell. Just price it with the existing windows in mind.
New carpet? It would be nice, but again ... have it professionally cleaned and price it with the condition in mind.
Interior paint job? That may be worth looking into. Paint can make a home look SO much better, especially if you have every room painted a different color, and it doesn't have to be expensive. If you can't paint it yourself, ask around for recs for an affordable painter.
Quote:
Originally Posted by Jkgourmet
More great advice.
I'll add one more. If you explained your situation and feelings to your realtor and she still suntested new windows, I'd likely be looking for a new realtor.
Lol. Very good advice from both of you. I think we need to contact a few more realtors.
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