Here’s what you need to know about fixing repairs before selling.
As we wrap up our educational series, let’s address a common concern for homebuyers: repairs. Understanding the negotiation process for repairs is crucial, as it often plays a pivotal role in finalizing deals.
Firstly, sellers are not obligated to make any repairs; everything is negotiable. We categorize repairs into two types: lender-required repairs, crucial for financed deals, and optional cosmetic repairs, entirely negotiable based on buyer preference.
During the inspection contingency period, buyers can identify necessary repairs not known before making an offer. It’s essential to focus on essential repairs and avoid overreaching. Request only what truly matters in the long run, as unnecessary requests can strain negotiations.
“Fix anything that could be a deal-breaker for your buyer. ”
For sellers, our advice is to conduct necessary repairs before listing to avoid complications. Disagreements over repairs often lead to deal failures. Both parties should aim for a smooth transaction and understand each other’s perspectives.
If you have have a home to sell, please call us at 916-919-5775. If you have considerable equity but your home needs repairs and you do not have the cash to complete them, please contact us about our Concierge Rehab Program. Through partnership with Revive Real Estate we are able to finance your repair costs so we can repair your property and sell it for its full potential value. We have seen tremendous results with this approach netting sellers on average 10-15% more for their sale. Just give us a call and together we will explore your options and determine what makes the most sense.
Cheers to a fantastic 2024; we look forward to working with you this year to make your real estate goals a reality.
