Here’s a good example. Let’s say the bathroom sink has a slow drip from the faucet. You have spent so much time and money rehabbing the house that it looks 100% better than the mess it was when you started. The little leak seems like a petty little problem at this point. You are also a do-it-yourselfer and that’s just a minor part and 15 minutes to fix.
The buyer comes to view the house and you tell him all about everything you’ve done since you started the remodel. You talk about the new roof, the new heating and air conditioning units and ducting, the updated kitchen with all new appliances, and the jetted tub you installed in the master bathroom. He’s somewhat impressed, but can’t quite get past that little drip in the half bath sink. He is not a do-it-yourselfer and realizes he’ll need to call a plumber to take care of that problem for him.
Let the negotiations begin. You don’t want that small problem to become a negotiating point worth thousands because he has the impression that the plumbing isn’t in top condition. Remembering that the buyer and seller have very different points of view can help you to sell for top dollar.
Go through the entire house from very top right down into the basement. Take a pad or laptop along and create a list of everything that a buyer will see as a potential issue. Missing carpet on the basement step or that little drip in the bathroom can make a difference.
Once you’ve made your list, see how much of it you can go through and fix just to get everything right from a buyer’s perspective. When possible, try to repair everything so there is nothing for the buyer to negotiate about. Let the bargaining be about the actual value of the house and grounds, not about an annoying little drip from the faucet or a chipped vinyl tile in the kitchen floor. If you must wait an extra week to put the house on the market you may find it worth your while when the negotiating begins.
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