Subscribe to Answers
We invest in these homes all the time.
Stevens Point, WI
Yep. Absolutely. It is not an issue if the seller understands they're not going to get the fixed up price for their fixer property.
San Diego, CA
Yes, all the time.
Yes we do come across these sellers.
I've seen them - but not listed them!
Yes right now!! I had a listing on a smaller starter home with a nice curb appeal, 3 small bedrooms with central air and heat. Priced to sell at under $90,000. Offer came in within 2 days for well qualified first time buyers. They had the home inspected and the report came back with major electrical problems...... My clients gave me the old "we are selling it as is" answer and refused to work with the young clients. I told my clients that since they sent us the report we would now have to dislcose the inspection and future offers would probably reflect the needed repairs etc... My clients shrugged their shoulders and would not budge one cent on price or concessions. We gave the buyers agent a couple of extra days to decide to terminate or move forward...............................Buyers chose to move forward!!
You bet - and yes, a discussion of market reaction/response to homes with and without improvements is in order - price, time to sell, all impacted.
Good Tuesday morning Dale. I have inspected some that needed a bulldozer - LOL
I've had sellers who couldn't afford to do anything. I had a LOT of it with short sales over the last few years.
Yes, happens all the time.
Dale - Yes, of course I have had a home that needed upgrading or a repair that the seller refused to do. At that point, I let them know they will not get top dollar, and will eliminate some potential buyers who may not want to purchase a home that needs repairs. Also, depending on the necessary repairs, it may eliminate any buyers that are getting FHA lending.
Of course, you lightly remove $xx from the listing price because of....
Yes, sometimes the seller did not have the money, or in this multiple offer time, they may not have to fix.
More than once.
Dale Erwin Sure, for various reasons they might not want to upgrade or make a repair.
Way too many times. They just need to understand that they will lose some potential money in the sale because of it.
As Roy Kelley says REO's, estates and a few others; eventually if in the business long enough we all do.
This happens all of the time with REO properties and frequently in estate or divorce situations.