How much fixing up is enough?

Many soon-to-be-sellers ask us how much time, effort and money they should put into fix-ups. In general, there is no hard and fast rule. It can depend on what type of buyer you are trying to appeal to. If your target buyer is a "fixer-upper" buyer, then obviously your cash outlay may be considerably lower than for a "move-in condition" buyer.

The Three Phases Of Fix-ups

Fixing-up falls into three categories:
    The basics.
Requires a minimum cash outlay, typically requiring more elbow grease than money. Includes: Mow the lawn. Trim the bushes. Edge. Clean closets, storage areas, garage. Wash windows. Scour the kitchen and bath.
    Middle of the road.
The basics plus cosmetic repainting of dingy rooms, repairing broken fixtures, replacing worn carpet, etc.
    Big guns.
At this level, major refurbishments come into play, like installing a new roof, updating kitchen cabinets, replacing old systems and appliances.

Give us a call and we'll sit down with you to make a list of needed fix-ups, so you can determine exactly what's right for your personal situation.

  How can I jump-start my home sale with a stunning entrance?

"Love at first sight" happens with houses, too. Often, buyers start making a decision about whether to buy or pass by after their first look at the home for sale. You send a positive message to prospective buyers when your home looks ready for their visit. Here's what can make your home look warm and welcoming:

    Sparkle
Make sure the front door is freshly painted and the hardware and nearby light fixtures are clean and shiny.
    Smile
Put out some seasonal flowers or a wreath to brighten up the front entrance.
    Safety
Repair anything cracked or broken like steps, walkway or the driveway.
    Serenity
Create a sense of well being by trimming the lawn and bushes, storing yard tools or toys, and maintaining a neat, attractive front yard.
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  Why should I replace and update now when I’ll be moving out soon?

• Because you'll increase both the value and the marketability of your home.
• Because many of these repairs would be required by the buyer or the buyer's home inspector anyway. Now is a better time to fix up than the last minute when you've got the sale of your home hanging in the balance.
• You've now got the luxury of time and can seek out the best professionals to help with your projects.

  Do buyers like a furnished house better?

If you have a choice, it is usually better to sell your home while it is still furnished. That way, prospective buyers can more easily imagine how it will look when they move in, even though their furnishings will be different. Generally homes that are furnished sell more quickly and for a higher price than vacant homes.

If you have to move out before you sell your home, consider leaving some furniture behind to help give the house a lived-in feel.

Call or e-mail us for advice on how to decide which fix-up ideas will do the most to help you make the sale.

  Is it better to replace the carpet or offer a carpeting allowance to buyers?

Replacing the carpet to help the house sell faster is a favorite with real estate agents. And there's a good reason. Taking a shortcut by offering a carpeting allowance doesn't have the visual impression – or sales impact – of new carpet. Here are some guidelines to be sure the new carpet has the maximum effect:

    Select neutral colors.
The color should be neutral or a dull color tone to help the room look bigger. When carpeting several adjoining rooms, the same carpet should be used, if possible – again to make the house seem larger and more unified.
    Select high quality pad.
The pad under the carpet is important, and not a place to cut corners. A good pad is dense and resilient, and gives an expensive feel to almost any carpet. Pads come in a variety of materials including rubber, foam, felt, and jute.
    Select fiber carefully.
Choose a fiber that suits the area where the carpet will be installed. Carpets are made of a variety of man-made and natural fibers, and often are comprised of popular combinations of fibers. Nylon is durable and resilient, and suitable for high-traffic areas. Olefin is economical and stain-resistant, good for active families. Polyester is soft and elegant, and appropriate for a higher-style area. Wool is a warm natural fiber, luxurious and expensive.
    Select loop to match use.
The type of loop should depend on the use. A sheared loop like plush works in more formal areas; a continuous loop, such as Berber, is suitable for children's play areas.

  What’s a cheap and easy way to make your home more attractive to buyers?

Turn on all your lights, both inside and out, when showing your home to possible buyers. Open curtains, drapes and blinds. Light not only helps prospects see your rooms better, light helps buyers see your home as warm and inviting.

We have a lot of ideas that will help you sell your house. Call or e-mail us today.
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  What happens when a buyer makes an offer?

One common first impulse is to ask "How much are they offering?" While price is an important factor, it's also important to sit back and look at the big picture when negotiating a sale. Consider:

1. Buyer's financial situation

• Is the buyer qualified?
• What is the buyer's annual income and employment history?
• How much down payment and closing cost cash is available and what is the source?
• What type of financial debt does the buyer have? Car loans? Credit cards?

2. Financing method

• Is the loan type and interest rate realistic for current economic conditions?
• Is the length of time requested to obtain a loan realistic? 30-45 days is a typical time frame. It allows enough time to process papers, but also allows you to put the home back on the market promptly if things fall through.

3. Your costs

• How much does the buyer want you to contribute toward closing costs?
• What will your net proceeds be? Add up any points, taxes or fix-up expenses requested and deduct them from the contract price to determine if your final profit is what you need to make your move.

4. Your calendar

• Does the buyer's proposed settlement date give you enough time to select your next home and obtain financing?
• If you can't move to your next home promptly at settlement, can you rent back from the buyer?

5. Contingencies

• Must the buyer sell a home before buying yours? You may not have the time to wait while the buyer sells.
• What add-ons does the buyer want? Curtains, lawn equipment, swing sets? All of this can affect your final net proceeds, be used as bargaining chips, or both.

We are here to help. We've been through this countless times and can help you cut to the chase and come up with a mutually acceptable contract. A call or e-mail today can make a big difference in the future.
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  How do agents turn a "Tire-Kicker Wannabe" into a "Sign-Here Buyer?"

When the bid is presented to you, listen to the offer, even take notes – but don't respond until the presentation is complete. You have three choices: (1) accept the contract as presented; (2) reject the contract; or (3) make a counteroffer. Most often, sellers choose the third alternative. The choice is yours, but we can advise you every step of the way.

Art Of The Counteroffer

If you find some items in the proposal unacceptable, it's time to negotiate. It's also time to call on our experience and training, as you did when you first decided to list your home. This is when our professionalism really pays off. We will guide you through the contract maze of small print, explain what each item entails, and help you evaluate the bottom-line impact of price and terms in the bid as well as suggest possible responses.
    Don't delay.
Often time is of the essence. Avoid delays. Although you may want more time to think over the offer, be aware the buyer could withdraw the offer any time before you sign it. The best time to decide what terms and price and timetable you will – or will not – accept is while preparing your house for sale, so you can respond quickly when a contract is presented.
    Consider seller-paid points.
It's good to know before you begin negotiating that paying points for your buyer's loan is a powerful double sweetener. That's because seller-paid points save the buyer out-of-pocket cash, AND serve as a tax deduction for the buyer. As we work together, we will clue you into other important negotiating tools.
    Do it in writing.
Make your counteroffer in writing on the original contract form, initialing changes you propose. Contract negotiations may go back-and-forth several times, with each party giving and getting something each time as you zero in on common ground. Don't negotiate by phone and, even if it looks messy, don't retype the contract as long as it's legible. Something could get left out or inadvertently changed.
    Consider a contingency kick out.
If the buyer offers a contingent contract, you could consider including a kick-out clause. The