Liabilities into assets


By Kathy Henne



Getting ready to place your home on the current real estate market? If it is in anything less than “like new” condition, you’ll need a little reality check before you can determine a fair asking price. Since buyers will order one anyway, you may want to consider having a whole house and a termite inspection performed by a professional when you first put your home on the real estate market.

Why do it now, since the buyers will probably pay to do it later? Ask yourself if you like surprises! If repair issues are identified in these inspections, you have time to decide whether to pay now for the repairs, or adjust your asking price down accordingly. If habitability issues are discovered when you first put your home on the market, you’ll have time to get three estimates and probably save some money. If you wait until the buyer has the inspections completed, you’ll end up paying whoever can come TODAY, whatever they decide to charge to have the repairs completed quickly. Otherwise, the closing may be held up or the buyers may be scared off and the whole deal falls apart. When the buyers are comparing your home to the other homes available for them to choose from, it will be to your advantage to have the inspection reports and repairs that were completed, laying out with the feature sheets for the buyers to review. When the inspections have been completed and habitability repairs completed, the buyer feels more confident about the purchase of your home.

This is a great opportunity to take lemons and make some lemonade! Don’t ignore major repairs that can boost your home’s value and desirability. If your home is marketed while in need of a new roof, you’ve got a real liability and challenging road ahead of you. Market your home with a brand new roof, and suddenly you’ve got a great asset. If the buyers decide your home needs a new roof, they’ll probably deduct two to three times the cost of the roof from their offer.

Discover problems and implement solutions in the beginning. To do otherwise, simply invites unpleasant surprises and low offers. In today’s fast-paced market, you need to take proactive steps that assure your home’s value stands out in the crowd. Get the inspections completed quickly, have the habitability issues addressed, then relax knowing you’ve avoided most of those ugly inspection problems that can kill your sale.

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By Kathy Henne

Contact the Kathy Henne Team RE/MAX FINEST by calling (937) 778-3961.

Contact the Kathy Henne Team RE/MAX FINEST by calling (937) 778-3961.