TLC may be referred to a home that is simply a bit outdated, needs some touch ups, maybe paint, floors, minor updates if desired, maybe the landscaping has been ignored, etc.
The key is, aside from visual inspection, to always hire a professional property inspector once your offer has been accepted and you enter into escrow. They will check everything from plumbing, to appliances to foundation.
Feel free to call me with any other questions.
I see your son is looking for move in condition, which is great but do also consider that these come at a higher price. I would still say don't ignore the TLC properties, the work that may need to be done may be minimal and might get you the best bang for the buck..
Like I tell my buyers.. if there is a home that they love that has everything they are looking for and move in condition. Then there are probably 10 other buyers that feel the same way about that home and vice versa. So just be prepared to maybe go higher on the price to get the home they are after.... especially in today's market. Where anything that hits the market that is decent, move in ready, priced right, will have 8 offers in two days.
I was especially interested in the comment on who the agent wants to see as buyers.
My son is looking now and says he and his wife want move-in condition. As one contributor pointed out, that might include something that needs cosmetic fixes. Expands his range of choices. Thank you!
BTW, he's ripped out a bathroom to the studs and replaced all the plumbing, done the floor leveling, tile work, etc. He had a summer job in college painting houses. I've been working on a 117-year-old house for the past four years -- repairing plaster, gutting a kitchen to the studs and redoing, repairing wooden windows (I'm state-certified in that), exterior and interior painting, etc. -- so I am familiar with both hands-on work and hiring contractors. He hasn't dealt with contractors yet.
Thanks for the tip on inspectors. I hear you! The so-called inspector my realtor urged me to hire never entered
the attic because it didn't have a floor, ignored the spalling brick chimney base (water leaking from bad roofing) and missed carpenter ant damage so severe it threatened to collapse the back porch.
Now that you know how subjective the two terms are you may be asking yourself what your next step might be.
At the very least, I would suggest you find a personal friend with a little experience in remodeling that can tour homes with you.
Better yet, use Trulia to search for RealtorsÂ® with hands-on building / remodeling experience (and the physical and financial scar tissue that goes with this experience) would be a good move.
Finally, search for the best darn property inspector you can find right now! You donâ€™t want to be searching around for this person once you have already entered into contract and your inspection contingency has started. By the way, one DOES NOT need to be licensed in CA to be a Property Inspector. So, I would suggest you find someone from one of the three property inspection associations below:
You've already read that "fixer" or "TLC" can mean many things.
One Preston's TLC, can be another's fixer.
It's just in your perspective.
I always advice my clients to see homes and have them make their own judgement.
Either way as a buyer they need to see the property, cause "like I have found out" what one might consider a fixer or needs TLC, to an other, the home may be perfect.
Shadow Hills resident for 32 years.
You are probably getting the idea from the responses that there is no real definitive answer.
It all depends on the agent that lists the property. I have seen the whole spectrum. One property was a complete tear down but the agent referred to it as needing TLC. In another one, it was pretty much move in condition but the agent wrote fixer.
The best thing you can do is look at the property yourself. You know what you can live with and what you would like as far as your taste is concerned. If you are planning to list your property and know that it is basically in good form but needs a little work, you can discuss with the agent about wording before you list it.
Please call or send an email if you need help with any of your real estate needs.
DRE #01723594 SFC (Short Sale & Foreclosure Certified)
Premier ServiceÂ® Professional
A place that needs TLC probably has some deferred maintenance and/or needs updating.
A fixer is more of a contractor project that requires extensive repairs and/or structural work in addition to upgrading.
These are subjective terms that can mean the same thing or something completely different. As a buyer, whenever I see that, I would suggest asking the listing agent for specifics of what the home needs.
There are indeed different degrees of fixers ...some are merely outdated and need a 'face lift' and others have systems and house components that really aren't working. Thus, it's critical to get the facts of the home in order to truly understand how the listing agent is using the term.
Hope that helps.