Princeton Town Topics – Let’s Talk Real Estate – June 24, 2009
IF IT’S BROKEN…
Most houses have a few “little” problems, like leaking faucets, a stove burner that won’t light, or electrical outlets with too much “spark”. These defects may not seem very important–unless your house is about to go on the market.
We rarely have difficulty getting sellers to agree to paint, replace worn carpets or plant a few flowers in the front yard. These kinds of repairs obviously increase the overall appeal of the property. However, if any of the major systems in your home need maintenance, be sure to have the necessary repairs made. It is also a good idea to have your furnace, central air-conditioning system, plumbing and wiring checked as part of your pre”‘marketing efforts. The best rule is–if it’s broken, fix it!
The purchase agreement gives the buyers an option to have the property inspected, and most buyers will have their home inspected to identify any major problems. During the period of time between the “meeting of the minds” and the removal of the inspection contingencies, it is to the sellers advantage to have their property market-ready, with any known defects either disclosed or repaired.
