With the market slowing down it takes more to sell a home today versus years back.
We recently listed and sold 732 James Lane
located in the Lakeview subdivision.
2 Car Garage
Sq. Ft.: 1767
Selling Price: $575.000
It was a ranch style property which the owner had never occupied but rented with intentions of one day rebuilding it into a larger home. While the market changes over the last 4 years the dream was quickly not going to come to fruition.
He stopped by the office and invited me to review the house and give him an idea of what he could sell for or would renting make more sense. We arrived at the home to find it in one large mess- carpet was beyond cleaning, a leak was evident in a bathroom, the heat did not work and the appliances were a mess. The roof was the original wood shake which called for attention.
One way or the other this property needed some serious work to put it into condition to rent or sell.
I explained the age of the house, built in 1971, may or may not have records on the property and the amount of coverage allowed.
There were no records ! In this case this was a PLUS because the lot was just under half an acre and had lots of coverage which would be grand fathered in for future usage. An AS Built Survey would be required by the buyer to determine what was available or the buyer could go up a level.
Taking care of repairs prior to selling relieves the owner of future liabilities and full disclosure of items repaired and those outstanding:
Repair items included:
– Removal of pine needles, inspection and repair of shakes. This gave the roof at least 3 to 4 years.
– Heating was inspected and minor repairs made- new thermostats installed none were working.
– Painting and carpet replacement
– Appliances repaired ,not replaced
– Leak in shower required replacement of shower head
– Front deck into house was missing boards and railing required tightening and paint
– Removal of broken washer/dryer
Marketing was underway after the house was cleaned up.
The house went under contract within 30 days of listing and closed, this month.
Today you need a Broker who knows how to make sure the seller is covered for future liabilities.
A Broker who knows to check the right agencies to see what is on record or not.
Know who to suggest to the buyer to get work with who are reliable and show up!
We over saw all the work on behalf of the seller since he was traveling.
When you are ready to work with the right
Brokers- Call Chris & Patti Plastiras – Lakeshore Realty 775 691-7000