demand that you fix them 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 If major problems like a leaking roof or outdated electrical wiring exist, you may want to repair those potential deal-breakers before putting your home on the market or expect to give concessions to the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, a foundation without cracks, a functioning heating and/or air-conditioning system, solid subflooring, and safe and secure electrical wiring. With finance-mandated home inspections, any shortcomings may be required to be remedied to get buyer financing approval. 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 and may help your home move faster, it won’t necessarily return dollar-for-dollar value.
MECHANICAL MAINTEN CAL MAINTENANCE IS A MUS CE IS A MUST
Getting wrapped up in the more eye-pleasing aspects of preparing a home to sell is easy. However, the upkeep of all the more mundane aspects of the home cannot be overlooked.
These systems require consideration:
• Electrical boxes and wiring
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