Tag

deferred maintenance

Discounting for Condition: How Much?

Not Just Price Tag, Scope of Work Discounting for a home’s “vintage” condition is inherently subjective. Some Buyers don’t want to tackle anything more challenging than painting a Bedroom (if that). Others ” especially if they have contracting skills (or access to them) ” are up for remodeling the Kitchen, Bath’s and anything else that...
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Discounting for Deferred Maintenance: How Much?

Rules of Thumb Veteran Realtors know that $1 in deferred maintenance subtracts much more than that from a home’s sales price. The ratio can be 3:1, 4:1 or even higher. While the exact amount is house and buyer-specific, at least anecdotally, there seem to be two factors that widen the discount. One. Price Point. First-time...
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The Difference Between a Home Inspection Addendum and a Repair List

Loose Door Knobs and Caviar-Stocked Fridges [Editor’s Note: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced.  If you need legal advice, please consult an attorney.] Test your knowledge of today’s housing market, and answer the following question: Which of the...
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The Difference Between a Home Inspection Addendum and a Repair List

Loose Door Knobs and Caviar-Stocked Fridges Test your knowledge of today’s housing market, and answer the following question: Which of the following issues are properly raised by a Buyer’s home inspection, and resolved either by a Seller price concession, or the Seller assuming responsibility for repair(s)? A. The dated Kitchen; B. A concrete driveway with multiple...
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The Difference Between a Home Inspection Addendum and a Repair List

Loose Door Knobs and Caviar-Stocked Fridges Test your knowledge of today’s housing market, and answer the following question: Which of the following issues are properly raised by a Buyer’s home inspection, and resolved either by a Seller price concession, or the Seller assuming responsibility for repair(s)? A. The dated Kitchen; B. A concrete driveway with multiple...
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Discounting for Deferred Maintenance: How Much?

Rules of Thumb Veteran Realtors know that $1 in deferred maintenance subtracts much more than that from a home’s sales price. The ratio can be 3:1, 4:1 or even higher. While the exact amount is house and buyer-specific, at least anecdotally, there seem to be two factors that widen the discount. One. Price Point. First-time Buyers are notoriously...
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