If these components are old, outdated, or not working correctly, the home’s appeal is lowered, as is the eventual sale price. According to the National Association of Realtors®, 65% of homebuyers surveyed wanted to be sure their new home had a working newer HVAC system. Of the 31 mechanical features inquired about in the survey, this was the most important. People want to purchase a home that reflects their aesthetic tastes and lifestyles, but also one that is safe and sound. Faulty electrical systems do not provide a feeling of safety. Leaky plumbing arouses concerns of mold infestation and sewage problems. These areas can require extensive work and they are extremely important. Overlook them in the preparation stage, and you run the risk of trouble later with inspections and appraisals.
SHOULD YOU SELL "AS-IS" OR DO SOME WORK?
If you have mechanical or structural issues and decide to sell your home “as is,” it may be necessary to negotiate with the buyer as you can almost be assured of a much lower price. Stating "as- is" in a listing is an immediate red-flag that there may be some issues a buyer is going to have to deal with so we recommend avoiding this if at all possible. Stating "as-is" basically means that anything a buyer's inspector uncovers will not be repaired by the seller and/or the seller will NOT give any credits (reduction to the price) to the buyer for those items.
REPLACING APPLIANCES
New appliances undoubtedly make an impact on buyers. The National Association of Realtors® conducted a survey of buyers and found that:
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