Author Topic: Repairs before selling?  (Read 707 times)

Watchmaker

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Repairs before selling?
« on: December 29, 2016, 03:33:15 PM »
I may be selling my current house in 2017 and the siding has gotten to where it probably ought to be replaced next year (or last year); most of it still looks good, but there are a few spots where it is crumbling away (it is some kind of composite board).

I'm trying to figure out if I should try to sell the house as is (maybe with a credit back to the buyer for new siding) or whether I should replace the siding before selling.

It doesn't make sense to me that someone would want me to replace the siding since I would be motivated to go the cheapest route, but I don't know that much about real estate.  I know if I was buying the house, I'd rather redo the siding myself.

Thoughts?

geekette

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Re: Repairs before selling?
« Reply #1 on: December 29, 2016, 03:34:21 PM »
In my experience, buyers prefer move in ready, or a big discount.

sokoloff

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Re: Repairs before selling?
« Reply #2 on: December 30, 2016, 10:48:19 AM »
Exactly. Most buyers are not that savvy and are buying on first impressions much more than on cold, hard calculus.

If the siding looks terrible, it breaks their fantasy of what it would be like to live in this particular house. Nevermind that logically they might be better off replacing the siding and picking the paint color themselves, it doesn't matter, the spell is broken.

Now, for items discovered during the inspection, watchmaker's logic holds, because they've already been able to imagine themselves in the house enough to make an offer. Now, as a buyer, I'd much rather get a cash credit and do the repairs myself, ensuring they are done to my preferences and satisfaction and any warranty applies to me.