Fix-up or Sell As-is?

Does this make sense to you?

You have lived in your home for many years and now are moving, but before you can move you want to “fix-up” your dated house.

In this competitive market, perhaps you aren’t confident that your home will sell as-is or for the price that you want it to sell for. Some home owners do try to sell as-is. Selling as-is can be a problem; potential buyers may not have vision or time to fix up a new home. These buyers won’t be buying the as-is home because they can’t envision it any other way, or don’t want to get into a project house.

What do you do?!?!

Before you start to fix it up, have it inspected. The buyers will be doing that themselves, but as a seller I would want to know any big problems before they could ruin a sale. I hate surprises like that! Fix the big problems, then fix the cosmetic problems.

I have often wondered why we want to fix up our home for someone else; we should be doing that for ourselves!

Hunter Douglas EverWood® TruGrain® Blinds

Hunter Douglas EverWood® TruGrain® Blinds

Instead of living with that tired looking carpet, replace it now!  Why wait to the house goes on the market just so someone else can see the new floor?  Don’t we deserve the new carpeting or flooring?  Your home might need some cosmetic work too.  Don’t wait to do that just for someone else!  When replacing items for real estate we tend to think we need neutral colors, but it doesn’t need to be white.  White can be too sterile looking, not warm and inviting.  There are other neutral colors that appealing and are “move right in colors”. Update the lighting-  don’t forget to use brighter bulbs to bathe the room with light!  Replace dirty broken and dated window coverings.  Give your windows the warmth of wood on a budget by using Hunter Douglas EverWood® TruGrain® Alternative Wood Blinds. They look amazing and will go with any decorating style.

Afterwards you are going to say “Why didn’t I do this sooner?”  You will love the new look and the perspective buyers will appreciate the updated interior.  Hopefully you will hear “I want this house”!!

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2 Responses to “Fix-up or Sell As-is?”

  1. SunnyM Says:

    There really is no such thing as Selling “As Is”. Unless your home does not need any work done. The lending companies can be very strict on what has to be done prior to approving a loan. But, normally cosmetics are not a big issue with lending companies.. If paint is chipping, you need a new roof, or your Heating and Air, or Appliances, have a problem or even the outdoor sprinkler system does not work, more than likely you will have to make some repairs. It will be up to lending company who usually determines what must be done in order to lend the money to purchaser. So, if it is priced at or less than the appraised price and nothing major is wrong, I doubt they would make you paint or put in new carpet. Please be sure to “De-Junk” since it will look amazingly fresher and more likely to pass the “As Is.” test, You may want to give a Buyer both prices. Or if you are required to paint or do a few repairs, you can offer a set amount in the contract for those items to be done, regardless of the actual cost. Is is just an allowance. Or you can offer to pay closing cost, that will encourage many buyers to buy As Is. Good luck. It is very difficult selling property these days and it is a Buyers Market. We sellers are loosing money. It will also help you to know the approximate cost if you do need to make any repairs and offer the “Carpet Allowance” $500.00 to $2500.00 depending on what you know has to be done. And normally it cost you less than paying to have it done yourself since you are not required to offer an allowance of any certain amount. Start low and hope they will accept if you know you will have work that will be required by the lender? If you know anyone at your local bank or lending company or appraiser, they may be willing to check it out and let you know. Real Estate is very negotiable so I hope you have a good Realtor that will protect your interest. And I hope you will let us know how it works out for you. I am pulling for you. I am so frustrated having to watch home or property owners loose so much money and have to practically give away their property. The good news is that Fanny Mae is relaxing some of their restrictions. That will make it easier for buyers to get a loan.

    SunnyM.

  2. SunnyM Says:

    Sally, I am a Realtor and appreciate your comments about home owners waiting to fix up their home just before they put it on the market for sale. This has been a trend for way too long. People need to consider anything they do to improve their home will make it easier to sell more quickly and in many cases can help increase the resale value. But do not allow it to prevent you from enjoying your home while you are living in it. .Not much other than a good cleaning, painting and refreshing (De-Junking) is what helps a home sell faster. I certainly agree that the colors we select should reflect out taste and we selected neutral colors, just a bit bolder. which I believe will just make it more appealing. I notice in the newer homes, they are using many new colors and it I believe it helps the sale. The colors are bold, and eye catching. Many of us, may not have been brave enough to select some of the colors, but it seems to be a positive trend that people like. There is just to many too choose from to worry about it.. But, if you select a cheap beige just to say it has new carpet, I can bet it will not add appeal or help it sell better. In most cases, it would be less expensive and more productive to have a professional to give your carpet a good “Dry Cleaning.” Steam cleaning ruins carpet no matter how great the quality. We are redoing our Rental Condo at the beach and have decided to go with a beautiful laminate floor that looks just as nice as real hardwood but much easier to keep clean and a lot less. expensive. Actually, the cost is not more than carpet after adding new padding and installation. And the laminate has a 40 year warranty. And it can be used in kitchen and baths since it does not scratch and is so durable. Also, we are using a deeper that color that is sort of a golden yellow. It is darker than we are accustom to, but made the rooms look crisp and bold, yet not overbearing and blends nicely with the new flooring. And add a few throw rugs for color, and “Viola” it looks like a million bucks.without costing so much and should satisfy the most discriminating taste.

    One of the most important things for a seller to remember is to remove as muck of the clutter and things that have been stuffed in ever nook, crook and cranny over the years..I don’t mean to say your lovely things are junk but to a prospective buyer, who is trying to visualize and place their things, the clutter does harm the appearance by making it appear darker and smaller. So, with a good cleaning, fresh paint and removing a few things , it will give the appearance of a more open, light, and attractive home, which means a faster sell. .

    I knew we had too much “stuff” in our home, so when we decided to sell, we rented a trailer and filled it full., and even I was amazed at the transformation. It honestly looked like a new home and seemed more open, brighter, lighter and larger. It made it easier for the prospective buyers to visualize where they would place their things and it was also more appealing and in turn key condition. One of our neighbors even commented that they did not realize our house was as large, but it is true looks can be deceiving. To much can make a house appear darker and smaller regardless of the actual square footage. For example, my 91 yr. young mother only has a queen bed and chest in her bedroom but it had l wide headboard with storage on each side and we had difficulty finding an apartment that had a wall wide enough to accommodate her bed.

    We need to remember that when potential buyers are looking, they are attempting to visualize where they will place their things and determine how well they will fit and look. And don’t forget the closets, and storage spaces.
    It is worth paying to store those items that takes up too much space and gives a room cluttered look. Also make sure you have good lighting, especially in the baths and kitchen and open the curtains and blinds. The brighter and more light the better. Lighting is so important these days, especially since we understand how healthy is for us. And clear off all the spaces we love to keep things, like your dresser, night stands and tables. It may sound ridiculous but not only will your rooms look larger and neater so will the closets and pantry. If the rooms are too full, and this includes the kitchen cabinets, pantry and mop closets and and storage areas, it can hurt the sale. Today’s savvy shoppers don’t mind looking behind the closed doors, so be sure nothing falls out and hits them when they open those doors.

    There are many small things we can do to make a house sell faster without spending much money, So if you are planning on selling a house or condo, please remember these little tips that can make or break a sale.

    SunnyM.
    C&M Properties
    Columbia, SC 29223


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