Home Sellers: Five Fixes that Aren’t (Part 2)
To continue our previous discussion from July 3rd, here are the rest of the so-called quick fixes! Let’s get right into them!
3. Patching holes in the wall by hanging an art or mirror frame
It seems odd that people would still do this, but I’ve seen it in a few homes. No matter that they are bank-owned homes. And because the bank has never lived in it, it is even less attached to it. But you wouldn’t do such a thing. Would you?
This “fast fix” bothers me more than the others perhaps because it’s possible it could never be discovered until the day the new homeowner moves into the house. It’s one of those things that could be missed by the home inspector, perhaps because it’s so obvious. And then you can imagine the trouble you would be dealing with. Why not sell the home and be done with it? Why not actually get the wall patched? (By the way, how did you make that hole in it anyway?) Why leave a bad taste in the homebuyer’s mouth at the end of escrow? And then have to talk to your real estate agent and theirs and also deal with small claims court?
4. Using better curtains and light fixtures to make the place look better and then taking them down at close of escrow
While technically this is not a quick fix, I think far too many home sellers are unaware of this rule in real estate: basically, anything attached to the home like curtains and light fixtures goes with the buyer in the sale. In other words, it is included in the sale of the house. Which means you cannot put expensive curtains up and then take them with you to the new house. You also cannot change light fixtures towards the close of escrow.
If you do intend doing something like that, you should clearly spell it out in a counter offer to the buyer. Better yet, spell it out right in the beginning as soon as a homebuyer expresses interest in the home and thinks about making an offer. That way, all your cards are on the table and you avoid a potentially problematic escrow.
5. Leaks and Eeks
One thing I always do when I take a homebuyer into a home and they are especially concerned with leaks in the home (Remember: whether water or fire do more damage is debatable!) I always check under the sink in the kitchen and around the tub and the toilet seat in the bathroom for leaks. What do you do if you’ve discovered a leak in your home and it is on the market? If you have read so far, the answer should be obvious. Get it fixed!
Homebuyers are nothing if not terrified of leaks. Remember that the minute they see one they will run for the door. Especially if the majority of homes on the market are bank-owned and they don’t know what’s wrong with them, it is especially important that you distinguish your home as better than the others by fixing everything that’s wrong with it. Owner occupied homes get paid a premium especially for the reason that they are more cared for. Don’t cheat your homebuyers out of that!
So the idea is that whenever there is an issue that needs to be fixed, either bite the bullet and get it repaired by a professional or disclose it to your potential homebuyers. When in doubt, disclose!
