Property Conditions
ByProperty conditions is an obstacle sellers face when pricing their home. Overall condition affects the ultimate selling price and can be negotiated during the property contingency period. As a seller there are ways you can minimize the negotiating.
1. Consider paying for a termite report and, depending upon the age of the property, a home inspection when you list the house. You want to know what the issues are BEFORE you have a buyer.
2. Price the house according to needed repairs and/or general condition.
By having the information up front you maintain a stronger negotiating position than the one the buyer has. This will translate into more money for the seller the majority of times making the cost of inspections well worth the price.
As a seller if you find out about a problem while in escrow and the buyer wants it repaired either a licensed contractor needs to complete the repair or the buyer wants the repair price taken off the asking price or a credit. If the seller knows about the problem prior to a ratified offer it is the seller’s choice who does the repair or the decision can be made not to do the repair and the price is either adjusted then or negotiated when the buyer writes an offer.
As a seller you want to protect yourself and this is one way to do so.
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