To Fix or Not To Fix : East Central Ohio Homes and Land

To Fix or Not To Fix

Minor or cosmetic repairs are inevitable when preparing to sell your home. Such projects are usually inexpensive and don’t require much time or effort. But what about bigger repairs going beyond the aesthetic but not approaching the level of health or safety hazards?

Whether or not you “take care of business” before listing depends on the market situation, and an experienced real estate agent can advise you on whether or not the repairs will benefit your sale time and price.

If you are in a “hot” market, you may not need to take any action, but in today's buyer’s market, you have to make repairs just to compete. First-time buyers and those with busy schedules won’t even consider a home in need of repairs – they simply don’t have the time. Condition is everything, and experience proves that the homes in the best condition sell faster and for a higher price.

Anticipate the inspection report – many home sales include a clause that allows the buyers to withdraw an offer if the report is unsatisfactory or needed repairs are left unfinished. If they don’t back out, buyers will offer significantly less in anticipation of their repair costs.

If you’re in a lower end market, over-improvement can be an issue you want to avoid, but most sellers realize that “new” or “newly replaced” will be music to the buyer’s ears, so play on!

12:14 PM - Jul. 7, 2008 - comments {0} - post comment
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