Janis Peterson, GRI, ABR, CSP Realtor®
Philadelphia Main Line Homes and Real Estate
Montgomery, Delaware, and Chester Counties
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Receive Top Dollar
Most property owners want to receive top dollar for their home when selling. That's a natural desire, and there's a surefire way to make it happen by offering the home in "top dollar" condition!
A surefire way to attract low purchase offers is to offer a home in less than top dollar condition. It is common knowledge that sellers are likely to receive offers of $2.00 less than the asking price for every $1.00 in needed repairs. If the cost of replacing badly worn, soiled carpet is $2,800, buyers tend to offer as much as $5,600 less, provided all else is in good condition.
A home in need of repairs is an open invitation to make low purchase offers. Buyers assume that if the doorbell doesn't work, or the dishwasher is on the "fritz," other items need attention too. Once the caution flag has been raised, it is difficult to convince a buyer to pay full price.
Property owners should ask for advice from their real estate agent before their home is placed on the market. The agent can conduct a "walk-through" inspection, playing the part of a buyer. Take notes on all suggestions made by the agent. Include not only all major and minor repairs, but also cosmetic improvements and organization of closets, etc.
All repairs and improvements should be completed before anyone is shown through the home. This includes other agents, who may be invited to an agent open house. They should see the home in only mint condition.
Homes in top condition bring top prices, while the rest invite compromise. Wise property owners will heed the compelling advice, and will prosper from it.
"Real Service in Real Estate." For a personal consultation on buying or selling real estate, Janis Peterson, GRI, ABR, CSP Realtor® can be reached at (610) 642-3744, e-mail: firstname.lastname@example.org. Prudential Fox & Roach Realtors® is an independently owned and operated member of The Prudential Real Estate Affiliates, Inc.
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