<SomeItem> is Broken/Old/Worn/Ugly/Stained. Should I Fix It Before I Sell My Home?
June 30, 2009
Yes.
I know it isn’t fun.
No, we’re not going to offer an allowance instead. Trust me. I’m looking out for your best interests.
Let me know if you need help finding people to help you. I know all kinds of helpful folk.
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Other Information That Might Be Helpful
- Carpet Allowances - The Short Discussion (July 1, 2007)
Question: The carpet is _______ (gross, stained, dirty, ripped, smelly, non-existent): Should I offer a carpet allowance when I sell my home?
Answer: No. Replace the carpets.
Buyers almost always overestimate the cost of replacing the flooring. Have it replaced yourself before you put the house on the market. Yes, it’s a hassle, especially if you still live there. [...]Share This Story With Your Friends:
- Don’t Depend On The MLS Comments (November 1, 2007)
”Seller will give a $2000 flooring allowance at close of escrow.”
…but only if you buy it for full price.“Roof will be placed prior to closing.”
…but not if you buy it at the ‘as is’ price.“All fogged windows will be corrected before closing.”
…and by that, we mean we’ll give you money and you can go fix [...]Share This Story With Your Friends:
- How Long Does It Take To Write An Offer? (September 28, 2007)
Sometimes people ask me how long it’s going to take to write an offer. That’s a question I can’t really answer. It could be 20 minutes, it could take 2 hours.
The typical purchase contract we use in Tucson has over 20,000 words, with dozens of clauses and contingencies that we may need to include or [...]Share This Story With Your Friends:
Fixing and Flipping Homes in Tucson?
June 23, 2009
I had an inquiry the other day from someone about to move into Tucson about potentially fixing and flipping homes along the Valencia corridor in Tucson - basically, the Southwest and the South side.
I gotta tell ya - that’s something I wouldn’t do right now, at least not operating in the open resale market. I think the idea was to pick up a foreclosed home at a steep discount, make repairs, and resell it for profit.
The problem is that in those parts of Tucson, pretty much the only thing selling is the foreclosures. If you find one at a crazy low price, I’d bet it is in terrible shape too. Which means even more cash you have to put into the thing.
Not to mention that prices over the last year in that area have fallen - on average - 3% a month. So not only do you have to recoup your repair costs, your purchase costs, the holding costs, and the selling costs in order to just break even - you lose money just owning the thing over a very short term because of the declining market.
It’s not a bet I’d be taking right now.
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