Selling a House Question

[be12hunt]

Fix what you know they will find and let them pay an inspector to find the rest. The general upkeep of a home says a lot about the seller. Few things wrong = no biggie. Many issues = a homeowner who doesn't keep up with the place thereby throwing a red flag.

This

[sportsman]

When I sold mine last October, I had the realtor come visit and point out anything that needed to be fixed in her eyes. I fixed the few things she pointed out. I listed it and the buyers realtor found 3 things that needed attention. I fixed 2 of the things myself. I had a contract in a week. But the buyers had issues securing financing and kept extending the closing date. I went thru 4 or 5 weeks waiting on financing to go thru from the buyer.

[CaptainDave]

As stated, it's pretty standard for the buyer to have their own inspector, so I wouldn't bother getting one. They will come up with a list of items and these often are bargaining tools on the price of the home. Actually, the inspector typically goes in after the seller accepts the buyer's offer, so depending on the issues, the buyer could request the price lowered.

As far as fixing issues. If it's an older home, I would only fix a few things that are obvious and easy fixes. The bottom line is you don't want to spend too much on any significant repairs because more times than not, you will not recoup that on the selling price of the home. In other words, you will spend more on repairs and not see that much increase in the home value.

[gacman]

Pass on getting it pre inspected.

[Bill]

List it "As is, no repairs."

I like that approach, I'd simplify is to "home is priced as is". If the buyer wants things done, then it's all part of the negotiation. One approach to winning in negotiating (especially when selling) is to put all items on the table at one time, and then gives and takes to put together their best deal with the buyer. I call that parallel.

I have found experienced buyers try to negotiate in a serial fashion. First negotiate price. Then negotiate terms. Then (in this case) have a home inspection and then negotiate having you pay to do them. Then apply for a mortgage and come back and ask for more.

Ask your Realtor what he/she thinks needs to be fixed on a walk through with you and point out what you are aware of.