Have you ever noticed clothing sales that advertise â€œsecondsâ€ at greatly reduced prices? The â€œsecondâ€ quality merchandise may exhibit flaws like uneven seams and pulled stitches, and capitalizes on the slightly lower quality in exchange for a lower price.
Much like those â€œmark downs,â€ a home being offered for sale with obvious flaws also invites a lower price. Homebuyers, like other savvy shoppers, quickly become aware of needed repairs, and then begin scrutinizing the home for other defects.
If you plan to sell your home and expect to receive full price, be certain that all needed repairs are completed before the â€œFor Saleâ€ sign appears out front. If you don’t, expect to receive about $2 less for each $1 in needed repairs.
Protect your investment by asking an agent for advice. They will walk through your home as a buyer would, making notes of all apparent defects that attract attention. This could range from a cracked windowpane to carpet in need of replacement. No matter what the flaw may be, if it attracts attention, it also becomes a point on which the buyer may negotiate a lower sale price.
Your real estate agent can guide you further by providing marketing tips to make your home more attractive to buyers. Remember that by offering a â€œfirst quality” home, you may expect to receive the best price.
Bennington VT, Selling, Investment