I made this video as a case study for my web site based on an actual 2017 transaction representing some wonderful long term clients and friends. They are savvy to construction and renovations and were the only buyers that had not been turned off by the fact that there were a ton of repairs that needed to be done to make this home live-able. The finishes looked good on the first walk through, but then we started to notice things like plumbing not connected to drains under the sinks, water lines weren’t in place to fixtures, there was missing tile in each of the bathrooms, a toilet was missing in the main bathroom, light fixtures were missing and electrical work had been done in an amateur way, there were doors and hardware missing, windows were nonfunctional, trim was missing along with a myriad of other small repairs needed throughout that were daunting to most buyers.
In addition to this, when the seller was walking us through the home, he was talking about all the problems with the home that he would fix. We were feverishly writing down notes to make sure we got all of the concessions being given away before we were even in contract. Needless to say, my offer on behalf of my buyers included a laundry list of items the seller was to fix before we even got to the inspection period. The video shows the rest of the process and the numbers that the seller had to give away through negotiations.
My buyers ended up with an excellent deal and a beautiful home that would sell immediately for a much higher price now that all the scary issues are taken care of. This was too crazy of a example of giving away the farm to a professional negotiator/realtor by a For Sale By Owner not to share with my people! Lesson here is… Hire me to list so you don’t leave a bunch of money on the table or you just might have to negotiate against me or a fellow broker working hard for their buyer!
Cheers – Rob