Two Repairs to Do Prior to Selling Your Home

[Dominick Penny]

When you list your home on the market, you have to realize potential
buyers are going to go over it with a fine tooth comb. This means you
need to make repairs before hand. Since you probably aren't rolling in
money, prioritizing repairs is often important.
We need water to live. You can survive a surprisingly long time
without food, but you can only go a few days without water. Alas, the
same doesn't really work for buyers when it comes to the homes they
are considering.
Simply put, water that isn't going where it is designed to is a big
problem. Rot. Stains. Mold. Water causes it all. Buyers are told in
every possible guide to shy away from homes with water problems. When
you start your repairs, this is the number one priority regardless of
whether you have water leaks through the roof, bathroom, floor or
wherever.
Energy is a big issue these days. Besides environmental concerns,
nearly every person knows about the pain at the pump. Well, your home
energy bills are big and getting bigger. Winter could be really ugly
in 2008 and 2009.
Buyers are now cued into the potential energy costs of a home. If you
can provide them with energy efficiency advantages, they are going to
be more receptive to your home. So, how do you do this? Replace
appliances with Energy Start products that are much more energy
efficient. Replace your large hot water heater with a tankless water
heater. Consider solar. Add additional insulation to walls. Make sure
all windows and doors are sealed properly. With monthly utility bills
of $200 plus expected, these savings can add up quickly.
So, what about the repairs you can't afford to deal with? After all,
you aren't selling a new home! One strategy that works in these
situations is to offer the potential buyer a credit from the sale
cost. Don't just offer a discount on the sales price because their
mortgage lender might not give them the full loan, which means they
won't be able to do the repairs.
If you are pressed for time, this credit strategy works really well.
Why? Well, buyers and sellers inevitably have different tastes. By
giving the buyers money to make repairs, you are giving them input on
how the relevant sections will look. Buyers will find this a definite
benefit.

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