Downsides of carpet allowance in lieu of new carpet

Sellers often ask if they can just provide a carpet allowance on a listing in lieu of installing new carpet. In their mind, this is a benefit to the buyer since it allows the buyer to choose their own color and style of carpet. The benefit to the seller is they don't have to deal with the inconvenience of a carpet installation. In my experience a seller is much better off to install new carpet themselves BEFORE listing the home - if new carpet is needed of course. Why? Fresh new carpet makes the home show much better. Buyers often have a hard time picturing new carpet in a home. All they see … Continue reading...

I want to sell my house as-is

I sometimes have sellers who don't want to make repairs or updates and prefer to sell their home "as-is". As a home seller, that is certainly an option, but be prepared to take a major price beating when you sell as-is. Why? To understand why sellers usually end up selling an as-is home at a drastic price reduction, it is important to first understand most home buyers. There are basically two types of buyers who purchase "as-is" homes: The Fixer-Upper - This is a buyer who wants a good deal on a home they plan to renovate and then live in for a period of time, hopefully turning their hard … Continue reading...

How to Assess the Real Cost of a Fixer-Upper House

When you buy a fixer-upper house, you can save a ton of money, or get yourself in a financial fix.  I have seen a lot of young couples get excited about buying a fixer upper, only to discover later that they don't have the skills or financial resources necessary to repair a run down home.  On the other hand, home buyers that are experienced at working around a home and who have the financial ability can build equity quick with a good fixer-upper. Here are a few tips: 1. Decide what you can do yourself TV remodeling shows make home improvement work look like a snap. In the real world, … Continue reading...