Guess what the #2 question prospective sellers ask me? Number one is of course, “How much money can I get out of my house.” So, what is the second most asked question? “Ivy, should we fix up our home or try and sell it as is?”
Quandary: Quick Sale or Quicksand?
Want to hear my profound, professional – having sold over 250 homes – kind of answer? “Depends.”
- Depends on your priorities.
- Depends on how quickly you want to move.
- Depends upon how much you want to put in before you get out.
- Depends, are you doing the work or hiring contractors?
- Depends on your local market.
- Depends on…well, you get the picture.
Quick Sale As-Is
I remember a seller whose spacious home sat in a coveted neighborhood, possessed an oasis backyard but was jammed full of stuff. Everywhere. With a modest amount of updating and a vast amount of decluttering, they looked to make a truckload of money. They passed. They decided to sell “As-Is.” While their truck drove away half empty, an investor brought his truck in and made off like a bandit. However, and this is important, the seller simply wanted to move fast. They achieved their objective and were happy about their decision.
Quicksand: DIY = ONO (As in OH NO!!!)
One of my sellers decided to sell one of their rentals. She called and asked me to look at it. Oh my…it was a nightmare. I told her to sell it as is. She talked her husband into taking on the disaster. She called two months later, “He’s done. Come on over and take a look.” Oh my…it was nightmare #2. He was a nice guy but could not perform nice work. Mismatched kitchen cabinet doors, obvious drywall patches, different sheen (flat next to glossy on the same wall), mislaid tile, broken light fixtures, missing and mixed handles, and on and on.
Here was their reality: two months of sweat equity with no return on investment. Emotional and physical investments are as real as financial ones. To make matters worse, they paid two more house payments and precious finances on wasted materials.
Hard or Harder?
I’ve discovered, it is better to address hard questions now than face a harder sell later on. For instance, one party thinks fixing up the home entails a few cosmetic improvements. The other person envisions a total makeover. Both use the same phrase. “We are going to ‘fix up’ our house before selling it.”
The solution? Bring in a third party at the beginning. These are big decisions with major ramifications. Because I’m more committed to serving people than selling houses, I am a safe consultant. Contact me HERE: https://ivystantonhomes.com/contact-us/ We can do this.