It really depends on the buyer. I know that I really would like to be able to customize something like that, and a credit to put towards a new carpet would definitely be intriguing to me. Other people want to be able to move in and not have to do any work. If you're not in a major hurry, it might be a good idea to try both. List it with the carpet as-is and offer the credit to start, if nobody is interested, replace the carpet and see if it helps.
In my experience with foreclosures, the deed in lieu let's you out of the mortgage without any type of compensation. This is in no way the rule or exception as all banks handle foreclosures and deed in lieu proceedings differently. I can tell you more about my experiences with foreclosures over the past 10 years if you email me.... more
I had a client who was in similar situation. Bank would not work with him on short sale and/or loan modification because they made enough and ratios where under the new guidelines.
But my clients did not give up. After the 4th attempt they finally got the loan modification done at the current interest rate from 6.5%. They plan to stay in the home for now but if work situation changes they may have to let go their home.
It tough but unfortunately situation that banks won't work with home owners.
Samson Properties... more
It doesn't matter what the offer of compensation is - I'll show my buyer any home that they are interested in. My commission is something that is already covered up front by a buyer broker agreement. If you're offering 3%, that's great. If you're offering 2% (or 0%), the difference will get worked out between me and my client unless the seller agrees to offer my full fee. The biggest problem I've come across with unrepresented sellers is either difficulty getting appointments to show or that they hang around during the showing and point out how many hours it took them to paint the trim with their 'upgraded' paint and how the special order, stained glass window in the laundry room costs $700...any many other things that my client could care less about. Some leave the house and let the buyer and I look around on our own - which is best. I still try to show everything possible to them, even after they are under contract - just in case. If you have it listed and are not getting showings, it may just be the market. Hang in there and be sure that you are making showings easy when you can.... more