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When fixes are easy and inexpensive there is still an issue for many sellers and buyers -- it gets into the whole "it was good enough for me" vs "I don't want their cast off junk" mindset that happens even in HOT markets.
From a literally a burned out lightbulb to a missing sink stopper I have seen people be completely unreasonable. I have to make a frantic run to a hardware store to get the silly little rollers for toiler paper dispensers when a buyer freaks out at a morning of the closing walk through. It is very odd what happens to some people's brains when they asked to fork over a large part of the income for the next 30 years...
Location: Danbury CT covering all of Fairfield County
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I had a buyer walk on a 30 year old condo a couple of weeks ago after a building inspection The seller has owned the unit since it was new. The furnace & air conditioner was old and the radon test came back high. There were a few other small repairs, plus a couple that the homeowners association was going to take care (water damage & evidence of carpenter ants in basement). The buyer didn't want a radon system put in because it would be the only one in the complex with it. They blamed me for trying to 'sell them a defective home' repeatedly, so I subsequently tried them after they formally withdrew their offer.
Location: Sometimes Maryland, sometimes NoVA. Depends on the day of the week
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Back to my mention of the roof. It is 18 years old right now, no leaks. Could be approaching end-of-life, but I don't know if they are 20-, 30-, or 40-year shingles. Furnace? Its older (~15 or 20 years), but works very well. We have in inspected every year and when we had the a/c replaced, we asked about the furnace. Everyone said it was a good one, they don't build them like that anymore, yada yada. It is what it is. Driveway? Yeah, that totally needs repaving. I will be the first to admit it. I will just price for that one, and my money says they next owners won't repave it either LOL
I'm a 1st time homebuyer and consumed with HGTV's my first place. A lot of the couples ask the sellers to pay for their closing cost. Is this common? Or is it a state-by-state thing.
I'm looking to buy a townhome in Northern New Jersey and was wondering if I should ask the seller to pay for closing costs or would my offer just get rejected for that idea.
We have never paid a buyers closing costs on four of our homes sold....
One in Florida, two in Jersey, and one in PA.....
Nor did we pay the buyers closing costs for my mothers home.
My daughters buyers in Florida and New York never asked for closing costs.
Our daughter didn't get help on closing costs on her first North Jersey home......
I really think this is a brand NEW thing arising from good 'ole HGTV, of which I love.........but, disagree on this point.
The roof issue is big.........I have heard realtors on the phone getting estimates and talking with sellers about who they would choose. I myself have had to replace a roof or two before a sale.
Its never a fun thing to deal with but I can understand...no buyer wants to move into leaks.
My husband having done roofing in his teen years was allowed to replace one himself....thank goodness. The cost of roofs can vary get at least four estimates. The fourth one here in PA was the best price with the same materials.....and we were thrilled to save on up to four thousand dollars!
Location: Danbury CT covering all of Fairfield County
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Reputation: 1378
Quote:
Originally Posted by middle-aged mom
Sorry, hard day at work. Several times after the buyers got their inspection report, they blamed me for trying to sell them a home with a lot of problems.
An agent put an investment property up for sale in 2007. It went under contract quickly. Home inspection revealed that the roof was nearing the end of it's expected life. Buyers wanted a new roof. Contract fell apart.
The place is vacant and remains for sale, 2 years later. A new roof would have probably run about $10K and this place would have closed in the $700's, back then. Seller will be lucky to net mid $600's and that roof is now 2 years older.
We have never paid a buyers closing costs on four of our homes sold....
One in Florida, two in Jersey, and one in PA.....
Nor did we pay the buyers closing costs for my mothers home.
My daughters buyers in Florida and New York never asked for closing costs.
Our daughter didn't get help on closing costs on her first North Jersey home......
I really think this is a brand NEW thing arising from good 'ole HGTV, of which I love.........but, disagree on this point.
Sellers assisting with closing costs and rate buy downs was common in the later 70's- early 80's when rate went through the roof.
Sellers assisting with closing costs occured in some areas NY tri state area, Boston, Florida, Cali and Arizone for sure) during prior real estate busts.
Seller assists happen when the market strongly favors buyers.
And no doubt about it, HGTV is fanning this flame.
Just MHO, but, despite my post, the sink stopper? That would really make me wonder why the seller couldn't take 5 minutes to fix it before even listing.
I'll be dammned if I could figure out how to re-connect it to that rod down in the sink, after 30 minutes of messing with it.
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