Have you ever heard that you should always try to negotiate from a position of strength? Before you put your home on the market for sale with an Austin Realtor, you can put yourself in a stronger position with potential buyers if you make ALL needed repairs ahead of time.
As an Austin Realtor, I sometimes hear sellers say: The buyers will have an inspection, and we know the report will show that repairs are needed, so we’ll just wait until they ask us to make repairs. The truth is, not all inspection reports come back with “repairs needed.” What if your buyers’ inspector told them your house was one of the “cleanest” he had seen, and that he couldn’t find anything that needed to be repaired? Wouldn’t this stop buyers from further negotiation on price?
The alternative is to wait for buyers to give you a list of repairs needed during the option period. Then, time is short for any negotiated agreement on a price reduction, repair allowance or repair to-do list. As an Austin Realtor, I see sellers get beat up the most during this time period whenever repairs are needed. In fact, many buyers are so scared off by repair lists, that they simply cancel the contract and move on to a house that doesn’t need so much work or attention.
Don’t let this happen to you! Make all necessary repairs before you list the house. In fact, why not hire your own home inspector? All home inspectors are licensed by the State of Texas, and they all use the same criteria and forms to inspect houses. You’ll get the same report that any potential buyer would get. You’ll have the information BEFORE the buyer does, which puts you in a position of srength in any negotiations. Even if you choose not to repair all items on the list, you’ll be able to provide the buyer factual information ahead of any offers they make. Just knowing the true condition of the home before they make an offer eases buyers’ minds. A calm, well-informed buyer is a happy buyer, and happy buyers argue much less over price.
There’s one more reason to make any repairs before you list the house. Once the home is on the market, the clock is ticking. You simply don’t have much time to get repairs done. That means you won’t have time to shop around for the best, lowest-priced repair person. In fact, you may not have enough time to make the repairs and might become forced to offer a “repair allowance” to the buyer or reduce the price. This never works in favor of the seller. Oftentimes, you wind up relying on buyers’ repairmens’ bids or you give in to the buyers’ amount just to get the house sold rather than lose the buyer. I can tell you as an Austin Realtor that you wind up in a weak negotiating position.
Time that you spend making home repairs is ALWAYS a good investment. Keep your home in tip-top shape. If your house were a car, make it the one a little, old lady drove and a little, old man maintained & washed every weekend. You know the one – that mint-condition car that still has a new-car smell years later. If your home is the one in mint condition with great service and repair records, it’s the one that’s going to sell for the most money!