On a periodic basis I will sending out some thoughts on current issues I am seeing out in the field. Today I will discuss existing homes homes and buyers expectations. Also, we will discuss pre-listing inspections as the two go hand in hand.
Many of the buyers of existing homes in the Grand Strand area are expecting existing homes to be in perfect condition or the same as new construction from a cosmetic standpoint. In many cases this is an unrealistic expectation but this does not seem to matter to the buyer. Many of these buyers are retirees leaving homes that they have spent time, energy, and money to make perfect in their eyes. Or they have viewed cosmetically perfect new construction in the area. Remember perception is reality.
They arrive here and start looking at both existing homes and new construction. If they decide on existing and have a home inspection completed there are typically concerns. Many of the concerns are not costly to repair and can be handled by a qualified handyman. Also, many buyers are unable to decide what items to focus on for pre-closing repair and instead want everything fixed that the inspector found or want a totally unrealistic price reduction.
I have worked hard to provide my clients the realistic costs to repair the items of concerns and provide references of reasonable pros that can address the concerns. Also, we stress the overall condition of the home and try to divert the focus from the fix it list. As you all know many of these concerns are easily repaired and nominal cost especially when considered versus the price of the home. In other words, chump change.
A way to avoid some of these issues is a pre-listing inspection. I can complete an inspection and provide a list of items that need addressed. In addition, we can help find the good pros to make the repairs. If your seller decides not to have any or all of the repairs done at least they are not surprised just before closing. Also, if the repairs are completed by the owner, they improve the realtors negotiating position and likely puts or keeps money in the sellers and listing agent pocket.
Sorry for the rambling but I believe it is a pertinent subject. Just for some perspective, I also work in the Rock Hill/York/Lancaster area and this is not as big as an issue in that market.
Have a great week and always call me if you have questions or need an inspection.