Page 18 - Downsizing
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11.TAKE IT OR LEAVE
While many buyers may love an updated Taking that stance can cost you a great
house, there are still plenty of buyers who buyer, and it can ultimately lose you
will buy a house that needs updating. So money. If one buyer wants things
don’t sweat it if you decide not to update replaced, repaired, or credited, it’s
your house; there will be a buyer for it. likely that any other buyer will as well
And if you’ve accurately analysed the — and if not for the same issues, then
market, costs to renovate, and potential others, or even more issues on top of
return on investment, you’ll likely net what the previous buyer found. So, it’s
more than if you spent the time and usually better for you to assess whether
money on updating anyway. it makes more sense to agree to have
the repairs made or give a credit toward
But one stance you may want to avoid is the repair than it is to tell the buyer to
an attitude of “I’m selling my house as-is! take it or leave it.
I’m not fixing anything. The buyer can
take it or leave it as far as I’m You basically have two choices…
concerned!” While the words may not • Take care of any necessary repairs or
come out exactly as quoted, it’s a replacements before you put the
sentiment many homeowners utter house on the market.
when selling their house. • Let it ride, see what the home
inspection reveals (and what the
While it’d be ideal to find a buyer that buyer asks for), and deal with it by
gives you the highest possible price and getting the repairs done or
doesn’t squabble with you over anything negotiating a credit.
that needs to be replaced or repaired, Neither decision is always the “right”
your buyer will probably mention at approach. It depends upon:
least a few items that need to be
addressed. • The current real estate market you
are in.
Many homeowners live with issues that • The repairs your house needs.
they’re able to ignore or are unaware of • Your personal financial situation.
until a home inspector catches them. • Your personal perspective.
And they figure that if they could live
with the problem, then the new owner However, in order to make the best,
can too...or they can take care of it most informed decision, it’s a smart
themselves if it bothers them that much. idea to ask your real estate ag r her
Owners often feel that the buyer is advice on how you should approach it.
already “getting a good deal on the You can always take the advice or leave
house” and don’t want to spend any it! It’s up to you.
money to fix anything. 18
