Repair Before Selling

Published on 08/23/04
By Lewis J. Corcoran - Realtor-Associate - Weichert, Realtors

Repair Before Selling

Spring is "High Season" for real estate sales. So if you're thinking about selling your home any time soon, you'll want to make sure that it is in good overall condition.

A home in good condition will appeal to a broader group of potential buyers. That's because most people are simply too busy and/or don't have the skills it takes to buy a home that needs fixing up to make it livable.

Most homeowners are willing to do the small cosmetic tasks needed to make their homes more attractive and appealing. The fix-up becomes an issue when it involves more substantial repairs, like a new roof, deck repairs, major plumbing or electrical problems, etc.

Another thing to consider is that frequently a buyer will make a lower offer on a home that needs repair. If this happens, the appraiser may require the repair to be made before closing as a basic condition of financing the home. The seller then makes the repairs to close the sale, and as a result is essentially paying for the repair twice -- once in actuality and again in a lower offer.

The homes that command top dollar and sell more quickly are the homes in the best condition. So it's usually smart to do the repairs before you list your home and consider them as deferred maintenance.

Owner's Tip:

When you buy a home, you should have the property professionally inspected as a condition of the sale.

Owner's Tip:

As a seller, you have an obligation to fix or at least inform buyers about any health or safety issues.