[5-DayForum] Fixer Upper

[Bill Effros]

Nelson,

Don't say anything.  Offer your home for 50% of what you believe you can 
get for it.  Let potential buyers inspect it.  You don't have to point 
out the carpet--people walk on it.  Hidden defects should be fully 
disclosed in the inspection.  People will factor the problems into their 
bids.  They understand this.  They know your home is worth more than 50% 
of your starting price.  The may or may not feel your home is worth 100% 
of what you think it's worth.  They will let you know when they bid.  
You are just a referee--you don't call the play.

Don't say "As-Is".  Don't say "Fixer Upper".  Don't say anything beyond 
"This home will be sold to the highest bidder Sunday Night."

Bill Effros



Labrina Apuya wrote:
> Hi Bill-
>  
> Would I need to say that I will be providing a concession for the 
> carpet?  Or is it sold "As-Is" and bid appropriately?
>  
> Nelson
>
> On Nov 5, 2007 4:08 AM, Bill Effros <bill at effros.com 
> <mailto:bill at effros.com>> wrote:
>
>     Nelson,
>
>     Don't call it a "fixer upper".  You are selling a home.  Everyone
>     will be able to see what it needs, and they will discount their
>     bids to a level they consider appropriate.  Provide an inspection
>     report listing everything the home needs, then let buyers tell you
>     what it's worth in the current market.
>
>     You will net more money selling your home "as is" than you will by
>     replacing the carpet.  This has been demonstrated repeatedly.
>
>     Bill Effros
>
>
>
>     Labrina Apuya wrote:
>>     Bill:
>>      
>>     We are looking to sell a home that needs the carpet replaced but
>>     have no funds to do it.  Is it best to list it as a fixer upper? 
>>     Has this ever been done?  Did the property sell?
>>      
>>     Thanks.
>>      
>>     Nelson
>>     ------------------------------------------------------------------------
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