Re: Real Estate Opinions Requested

fortune · ‎03-14-2010

@pattypeep wrote:
We are preparing to sell our rental this spring. It's an adorable home built in the 30's. We have just re-roofed house and garage, painted house and garage, put all new windows in the house, and built a brand new cedar deck the length of the house. (It has a water view) Our contractor estimated that it would be about $60,000 to do what I was thinking to do inside the house. It's perfectly livable as is and is currently being rented. My thought is: sell it as is on the inside at a reduced price so that the homeowner could put their personal stamp on it. Would a buyer prefer to live in it as is and do whatever they want inside and pay as they go - or pay an additional $60,000 sales price and pay over 30 years? If I was to buy I would opt to live and pay as I go. Thoughts?

@pattypeep

I would sell it just as it is. I wouldn't offer it as an "as is" house either. My folks spent thousands on a kitchen remodel. The new owners gutted the kitchen to make it "their own." It looks like you've taken care of the big things like the new windows, roof, paint, new deck, etc. The water view should keep the selling price up there! Relax and sell it now!!! Good luck!!

jackthebear · ‎03-11-2010

@pattypeep wrote:
We are preparing to sell our rental this spring. It's an adorable home built in the 30's. We have just re-roofed house and garage, painted house and garage, put all new windows in the house, and built a brand new cedar deck the length of the house. (It has a water view) Our contractor estimated that it would be about $60,000 to do what I was thinking to do inside the house. It's perfectly livable as is and is currently being rented. My thought is: sell it as is on the inside at a reduced price so that the homeowner could put their personal stamp on it. Would a buyer prefer to live in it as is and do whatever they want inside and pay as they go - or pay an additional $60,000 sales price and pay over 30 years? If I was to buy I would opt to live and pay as I go. Thoughts?

http://www.uexpress.com/smart-moves/2017/9/27/getting-the-most-out-of-pre-sale

@pattypeep I just saw as I was reading dear abby

pattypeep · ‎06-06-2011

@jackthebear Wonderful article. Thank you for sharing. That is exactly where my thoughts have been going.

Women and cats will do as they please, and men and dogs should relax and get used to the idea-Robert A. Heinlein

pattypeep · ‎06-06-2011

@fortune Thank you. I think you are right !!

Women and cats will do as they please, and men and dogs should relax and get used to the idea-Robert A. Heinlein

Lilysmom · ‎03-09-2010

@pattypeep, looks like you are getting some good advice. Good luck with the sale! LM

kivah · ‎03-11-2010

I wouldn't fix up the inside -- as that may not be the buyers' taste -d and requires way too much work and money. Find a great real estate agent - and he/she could answer some of ur questions. What u like is usually not what someone else likes. When ur property goes on the market, and the buyer makes an offer - that's the time to begin negotiations.

When I sold my previous townhome - my brown carpet was a mess - from my dog and it was old. I was ready to replace the carpet - and then I had an offer (literally 2 days later) - my realtor told me to put the money in escrow as the buyer wants to choose her own carpet. All $ amounts are also negotiable.

Helen852 · ‎03-11-2010

Two years ago we went through this with a 'rental' mom had. she had 'rented' a house she and my late dad had to my sister and then my nephew (her grandson). When he decided to move out of state we actually got to see what the property really looked like. It took us at least $20K to get it into shape to even sell. It was built in the late 40's. Had the original windows.

I'm sure you're not up against what we were. But we emptied the house with what they left, which was 3 dumpsters full of useless things. Painted every single room, installed new windows, new electrical, new bathroom (tenants left it in shambles - ceiling was all mold), ripped out an upstairs room that had cardboard for walls and ceilings and made a new bedroom out of it ... and remember this was her grandson. Bottom line, we sold it to my niece for a good price but they still need at least another $20K to get it to where it's where they want. So far they've done about $15k in renos on the interior beyond what we did.

Seeing what you've done on the outside is wonderful. I'd just spruce up the inside and let the new buyer(s) do what they want.

Good luck. The market seems to be a sellers market right now.

Helen852

AuntG · ‎03-09-2010

People have their own tastes so I would put $1000 maximum into freshening things up and doing minor repairs. It's hard to imagine recouping $60,000. Let the new owners do the big projects.