before issuing a loan to a buyer. If major problems, like a leaking roof or outdated electrical wiring, exist, you may want to repair those before putting your home on the market, or expect to repair the items and/or give concessions to the buyer.
STARTING WITH THE B G WITH THE BASICS
Every listed home should meet the basic expectations of any buyer. It should have a sound roof, functioning gutters and downspouts, foundation without cracks, functioning heating and/or air-conditioning system, solid subflooring, and safe and secure electrical wiring. With almost every buyer doing a home inspection, any shortcomings may be required to be remedied to get buyer financing approval. It might be a good idea to have the home "pre-inspected" prior to putting it on the market, doing any necessary repairs. This in and of itself is a great marketing tool to give buyers confidence in your home! It is important to understand that the market value of a home is determined by the prices of comparable homes recently sold in the area. Extensive remodeling to sell the home or to increase the value may not pay off. The property needs to be up to the standards of neighboring homes, so while the kitchen has to be comparable to others, spending $25,000 to remodel a kitchen in an area where comparable homes recently sold for $275,000 will not increase the house’s value to $300,000. While it may be a helpful selling feature, it won’t return dollar-for-dollar value-but it will sell for more and more quickly. Time is money!
MECHANICAL MAINTEN CAL MAINTENANCE IS A MUS CE IS A MUST
It is easy to get wrapped up in the more eye-pleasing aspects of preparing a home to sell. However, the upkeep of all the more mundane aspects of the home cannot be overlooked.
These mechanical features require consideration:
46
Powered by FlippingBook