cosmetic fix up on a property

Asked by terra renee, Tempe, AZ Mon Oct 1, 2012

i have driving by several properties and the pictures look ok, i havent been able to view the the inside the home to view it. the exterior is a little shabby. is this something that i will have to fix or the owner who is selling it to me?

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4
Shamile Hirsh, Agent, Gilbert, AZ
Mon Oct 1, 2012
Hello Rich, It seems that you are inquiring about a cosmetic repair on the home. If this is the case, the current market is a sellers market. Most homes come as is if the item that you are requesting to be repaired is for mere cosmetic reasons. I do recommend two thing: "a good and aggressive realtor to request repairs in the home, or credit towards the repair"and " a really reputable home inspection company". If the item in question is not in working condition, you should request a repair. Most properties that are foreclosures or short sales are sold "as is". Just remember that if you were competing for a home with several offers, the owner will most likely not repair the requested repairs and may chose to reject the request. If this happens he will know that he can get another offer. I work with several investors, and sell homes every single day. I have seen my investors factoring their cost of the repairs already when they buy the home. Again, just based on being a seller's market. Make sure your realtor discuss warranted and not warranted items when it comes to requesting repairs too.
Good luck :)
1 vote
Stephanie We…, Agent, Gilbert, AZ
Sun Oct 7, 2012
In real estate, everything is negotiable. Banks will sell basically "AS IS", however, depending on the buyer, buyer's financing, cash buyer, etc., the seller may or may not fix it. It will depend on each separate property, the parties involved, etc. All the best!
0 votes
Jennie Miller…, Agent, Phoenix, AZ
Tue Oct 2, 2012
That will depend if the home is a traditional sale or a distressed property. Distressed properties are lender owned homes and short sales. The latter two types of homes are normally sold "As Is' meaning you buy it how it stands now. This is not always the case and these types of repairs can sometimes be negotiated so you will need an experienced agent to help you navigate through these waters.
0 votes
David Vought, Agent, Chandler, AZ
Mon Oct 1, 2012
The repairs that may be needed on the property you are referring to can be done by either the person selling the property or you can fix the problems. The owner may be selling the property As-Is and all repairs will be made by you. However, if your a handyman or like the challenge of fixing up a home, the repairs can be a negotiation to be a lower price. If your not interested in taking on the repairs, you will need to get a good idea of the cost of repairs and factor that in to the purchase of this home. Repairs could be simple like new carpet and paint. OR, they can be much more extensive like a new roof or a new A/C unit. You need to be thorough in your investigation. You will definitely want to get inside and check all electrical, plumbing, A/C functions. I hope this helps.
0 votes
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