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Which Problems are Major? |
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We are preparing to sell our house. there are a few condition problems. How to we determine whether a condition problem would be considered major or minor by a potential buyer? Which problems, if not corrected would require the house to be listed as 1) a fixer upper or 2) one that needs a "little TLC and how much lower should the house be priced than it would be if these problems did not exist? |
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The one thing you must remember is your legal obligation to reveal any major problem that buyers can't see for themselves in a normally prudent inspection. As for what's considered major -- in general, it's anything that would cause buyers to offer less for the property, or to decide not to buy at all. It's clear you can't decide which problems this covers, and neither can I as I don't know just what you're referring to. But there's someone who can answer your questions accurately, and that's a real estate broker who is active in your neighborhood. More than one broker, as a matter of fact. It's perfectly proper to call several nearby brokerages, and ask if they'd send someone over -- at no obligation to you. Agents do it all the time, hoping you might end up listing the porperty for sale with them. An experienced real estate agent will be familiar with buyer expectations in your area, and after looking over your house will be in the best position to advise on what should be done to put the house on the market and what can be left alone, and to give you advice on pricing. |
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Edith
Originally published on May 28, 2007 |
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