7 repair requests to re-consider

Missy Yost of Inman News wrote an interesting article a while back about buyers being educated regarding which home repairs are actually necessary before finalizing a deal. I’ve re-formatted the original article below, with some of my insight added:

Most buyers and sellers understand that buying and selling a home requires negotiation. You give a little here, and they concede a bit there. But what do you do when you have a buyer who demands unnecessary repairs after a home inspection?

Educating buyers so that they better understand which repairs are necessary and which may annoy the seller enough for the deal to shatter is part of the job of a real estate agent. Here is a list of seven repair requests that buyers should think twice about before making.

1. Easily repaired items under $10

Whole-house inspectors often come back with a list of items that cost under $10 to repair or replace. Save yourself the hassle, and omit these things from the list of requested repairs. If repairs are not related to a safety issue or the breakdown of an expensive system, it’s better to refrain from listing them, if you are asking for a credit, than take them into account by rounding up.

2. Replacement of smoke and carbon monoxide detectors

Sometimes buyers are adamant they want missing smoke detectors or carbon monoxide detectors replaced. Although these are safety items, unless local codes say differently, it is better if the buyer installs the smoke and carbon monoxide indicators after closing. That way, they can make an informed decision on the type of alarms they feel most comfortable using in their new home. Fortunately, in our area, they are required by law to be installed and should be done prior to an appraiser coming out as they have to take pictures of them. If they are not there, the lender will not fund the loan until they have been installed and the appraiser has a picture to confirm.

3. Cosmetic issues in a resale home

Unless the home is brand-new construction, advising your clients against noting uneven paint or stained baseboards on a repair request is a good idea. Normal wear and tear should be expected in any resale home and should be a factor in the original price negotiations.  Homes are usually priced for condition and similar homes that have recently sold. Most buyers want a home that is move-in ready, thus why remodeled homes tend to sell at a premium.

4. Repairs related to minor plumbing and electrical issues

Often, a whole-home inspector will list in the report issues with simple electrical and plumbing items such as an upside down outlet, or corrosion on a fitting. Unless the problems cited are a safety concern, a buyer should not list them as a requested repair. Simple issues such as an upside down outlet or a corroded water line to a sink are simple DIY repairs or matters easily handled by a handyman.  Outlets that are not GFI’s tend to be common issue in our area. An outlet by water should be GFI – that is a health and safety issue, but for the rest of the outlets – especially if the house is 40 years or older – will not have GFIs, and the cost is about $350.

5. Repair of hairline cracks in the basement or driveway

Concrete expands and contracts naturally, and over time, cracks will occur. As long as the cracks are minor, don’t list them in a request for repairs. However, if the breaks are over a quarter inch, it’s an excellent idea to have a structural inspection. Structural cracks are a whole new ballgame.

6. Outdoor landscaping, porch and fence repairs

These items were visible at the initial showing and will be a factor in the initial offer and negotiations. It’s not a good idea to ask for things that were obvious at the beginning such as sod replacement, fence restoration, loose railings or loose hinges. The exception is if the repair is necessary as part of the loan process such as in an FHA, VA or USDA loan.

7. Replacement of failed seals in windows

Unless the window is under warranty, most sellers will refuse to fix a failed seal. Window seals fail over time with use, and depending on the age of the window seal, failure can be expected. It’s another simple fix, and sometimes you need to choose your battles.

For all items on this list that your buyer would like to have fixed and are not safety or related to the failure of an expensive system can be included in a request for credit at closing. Sellers are more likely to agree to a $300 credit for the buyer to replace 30 $10 items than they will to repair or replace the 30 issues themselves.

11 reasons your home isn’t selling

RIS Media shared a story from Charles Muotoh giving 11 reasons your home may not be selling. I found the piece very interesting and have summarized the points below, and added some commentary. Let me know what you think!

You overvalued your property: Overpriced homes will not sell. Simple as that. If you have an experienced real estate agent, they can give you an accurate value of your home.

Your listing is poor: You can’t poorly write the description of your home without any images. It will be skipped. Work with your realtor to make the listing attractive and interesting.

You’re always present at showings: Do not get in your agent’s way at showings. Let them do what they are experts at. Buyers don’t want you hovering over them the whole time anyway.

You’re too attached: If you are too stubborn to refuse to negotiate your price down, then there’s a good chance that you’ve become too attached to your home. That will make selling difficult.

You haven’t had your home professionally cleaned: What kind of buyer in their right mind will want a dirty house? Ask your realtor to recommend a professional cleaner for the carpets and windows before showing your home.

You haven’t staged your home: Never show an empty house, because it’ll make it hard for buyers to picture living in it. Always have it staged. Your realtor should have a stager on speed dial!

You kept up all of your personal décor: If you keep your home personal (with pictures, etc.), buyers will feel uncomfortable in your house. Take those down before showing the home!

Your home improvements are too personalized: If you tailored your kids’ rooms to their specific obsessions, that’s great…until you need to sell the home. Those little touches could scare off buyers.

Your home is too cluttered: Clutter can still be an issue in a clean home. Don’t keep too much furniture in the rooms – it will make your house feel smaller than it is!

Your home is in need of too many repairs: If a buyer knows he or she has to do a bunch of repairs, they are less likely to want to make a move. That’s a lot of extra effort and cost on their parts, even if the repairs are minor.

You choose the wrong real estate agent: You may have noticed a theme throughout many of these previous points. Choosing the right real estate agent is absolutely essential to the selling process. We can make all the difference in selling your home for the right price, in a reasonable amount of time!