Selling First Rehab
I need help. i am selling my first rehab and just had a contract sent to me from a realtor. we are ready to put it under contract but i have some concerns on the aos.
there is couple of lines stating that if there are repairs required by the mortgage company, home inspector ect that the seller will pay up to 1500.00
there is also one if there is termite damage for seller to pay up to 1500.00
i just changed them to 500.00 but is it recommended to sell a property "as is" and not have any of these lines in there?
they are willing to close in 30 days but i know the potential buyer is picky and will find repairs.
thanks in advance for your help!!!!!
real estate is a constant balance of price and terms. rarely will one side get both.
its ultimatly up to you. do you need to sell quickly and for that are willing to give up the 500 or can you hold out and tell them if they want it they cant nit pick after they have had an inspection. it sounds like they are trying to lower the price by having an inspection done and finding minor things wrong that they can complain about therefore lowering the price because you agreed. i have seen it buyers do that before and i dont like it at all.
maybe tell you are only willing to pay 500 if they find termits and thats it.
any home inspector can and will find something that needs repair, so there goes 1500 right there if you agree to it.[ Edited by ZinOrganization on Date 02/18/2005 ]
you are on the money for 300k sales price. that makes a lot of sense. just to do it right the first time can cut out a lot of headaches.
it also does sound like it would make people nervous selling "as is" thanks for your feedback.
Gary "new jersey"
that is also a good point. i know the buyer is very picky and will try to pull that out at the end. i did initially tell the realtor it was "as is".
thanks
further more tell them that instead of having there "inspection" done you are willing to pay to have a termite spray or whatever you call it done. as long as its a reasonable cost. example under 500.
you know, they drill the little holes in the ground and pump termite repelant in.