Selling a home "as is"

Parent Cafe
81

<p>Let’s go one by one

</p>

<p>EASY ask them to give you comps of the most recent active and solds in your development. If you have a small development, you know which development is comparable to yours. Don’t get swayed by BS. At the end of the day the appraiser for the buyer will be the make or break. If they don’t stay true to your comps than you will be forced to drop the price. Appraisers RARELY ever appraise higher, they know what the sales price is and all the bank cares about is that the house is worth exactly that!</p>

<p>

NO! Ask for the RELOCATION BROKER. This is the person who knows everyone in the office and any clients coming in. You will most likely not get them as the agent, but a good RELO will match your personality and needs to the right agent.
For example, in my office we have agents that are dual language (Asian, Spanish and Arabic). I would never expect my Broker to match me with someone who feels more comfortable with those languages. I specialize in A paper, military and over 55, thus the RELO would refer those clients to me. In your scenario you want a realtor with experience dealing with elderly.</p>

<p>For example, the elderly are typically more rigid and don’t like strangers in the home. You need a realtor to convey that because of the lockbox they know everyone coming in. The elderly usually need more hand holding, that means just popping in to check in with them. You probably want a young new agent who has time, not the top lister. Elderly clients will call the agent even after they have been told 100 times that the lockbox lets them know who and when an agent comes, but yet they will call and say so and so was there at this time, and even give the agents phone number. It takes a special agent to understand that they are not being a pain, but just trying to control their own life.</p>

<p>I would say that I don’t like ReMax because they “BUY” their desk. It is fee driven from the realtors standpoint. In other words they pay for their referrals, whereas, Century 21, Prudential or ERA are contracted and mgmt(brokers) dole out the referrals with the thought of the client/agent relationship.</p>

<p>ReMax is good because every agent pays for their desk they are sharks, but be aware that you might not mesh.</p>

<p>

Here would be my DEMANDS

  1. BROKER OPEN HOUSE…you can choose 1 of 2 ways…COMING on the market soon or on the market.</p>

<p>The difference is COMING on allows you to correct anything that realtors deem negative, this may include price. If the property is great it will create a buzz and you will have a contract earlier. Seriously, it HAS to be great, picture perfect, priced right to do this.</p>

<p>ON means within the 1st week. In VA and NC Brokers open are done on Tuesday or Wednesday.</p>

<ol>
<li><p>Ask for examples of their brochures. Don’t expect them to show up that 1st meeting with a brochure because some are like me, we want to see the property first before we address marketing.</p></li>
<li><p>Check out their company’s website. Is it hard to find? Is it hard to navigate?</p></li>
<li><p>Make sure they use every internet tool…Trulia, militarybyowner.com.</p></li>
<li><p>DEMAND a virtual tour and that on realtor.com they pay for “showcase” it is a red banner down the side.</p></li>
<li><p>Check out real estate mags like Harmon Homes or Land and Homes. You see them in strip malls (they are free). If they don’t carry ads there then you are losing opportunities.</p></li>
</ol>

<p>

</p>

<p>The one issue when selling parent’s home is clutter and odor. I don’t mean to be mean, but here is the truth about homes owned by the elderly:

  1. There is a strong odor, and usually it is because as their sight goes, so does the cleanliness. They don’t see that the garbage cans’ bottom has not been cleaned out in eons. This creates a smell. They don’t see that urine around the toilet seat. They have not cleaned the grout in the kitchen or bath because they can’t see it anymore.<br>
    Windows are the worst. Pay someone or do it yourself and clean them, you would be amazed how bright the house will be if you do it.</p>

<p>Go in with an honest eye. AGAIN 1 to 3 bleach will do the trick.</p>

<ol>
<li> Elderly usually have a crap load of crap. They will keep everything from their entire life. Collect the family and have a dinner, at the dinner start addressing the tennis racket in the closet that has been there since you were in college.</li>
</ol>

<p>Mothers day is coming about, if you think that in the next 3 mos you are going to sell their home, pay for Merry Maids to come and clean the house.</p>

<p>DO NOT DO A GARAGE SALE. It is just too hard on them, instead, divvy up the crap and let them believe you are going to take it. The next day go to Goodwill and donate the crap!</p>

<ol>
<li>If it is a fixer-upper than sell it as that, don’t go insane dumping money into the property. It is very difficult for elderly parents to deal with this, they feel as if they are losing control and angers them.</li>
</ol>

<p>Have the realtor state “HANDY MAN SPECIAL”. I typically do this and explain to the family that you can dump 10K into new appliances, paint, floors, landscaping, etc. or we can list it lower and place in the remarks HANDY MAN. Clients who want pristine homes will never go and there is a market for fixer uppers.</p>

<p>I am only licensed in VA so it doesn’t matter how far I would travel :)</p>

<p>OBTW the most important thing is to acknowledge to them the stress that this is. Remember this is the home where they had Thanksgiving dinner, the home that your baby had their first christmas. It is emotional not only from memories, but accepting a chapter is closing. You need to STRESS how great the next chapter will be.</p>

<p>Selling 55+ is very unique. You need your parents to feel like they are still a part of the decision. Century 21 has realtors with 55+ designations.</p>

82

<p>

</p>

<p>Guilty as charged</p>

83

<p>How early you should put the house for sale. What do you recommend?</p>

<p>If you know you are moving in December 2011…can you place the house for sale with the condition that the house will be available in Dec 2011?
What are the rules (realtors, websites) concerning this situation?</p>

84

<p>You could do a leaseback if any buyers are willing to bite.</p>

85

<p>My parents were so happy that the agent “liked” their home. It was spotless. Mom wiped all baseboards every week, scrubbed the garage floor periodically and never used the shower in the master bath for fear it would mess up the tiles. My folks loved their home and reveled in any compliments about it. I think they took a little less than the asking price because they “saw the buyer’s eyes light up” when they came into the foyer. And yes, despite the realtors instructions, my parents had not left the premises when people came to see the house. Sometimes they would sit on the screened in porch - I am sure it drove their agent nuts.</p>

86

<p>Most buyers want to be in a home within 30-90 days. Contact a realtor and find out the avg market time. If it is 6 months then plan 8 months (6 to contract, 2 to settlement). So on and so forth.</p>

<p>Work, as an agent I don’t mind if they go to a screened in porch or putts around the garden, The important thing is that they don’t try to sell the home to buyer and follow them around highlighting what is GREAT about the home. Sellers need to stay out of sight so that buyers don’t feel like they imposed on them.</p>

<p>In No VA it is a competitive market, so much so that buyers will attach letters of their personal feeling regarding the home to sway the seller.</p>

87

<p>If your climate changes dramatically through the year, try to snap – or find – some photos of your house in different seasons. Leave them on a counter so buyers can see.</p>

<p>We’ve had to buy in March, when houses up North look very drab, only to discover they look glorious in June or October. When selling, we put out year-round pics of the house. I think it helps. </p>

<p>If you decide to paint white, at least choose the white carefully. I’d say: up North, seek a warm white with some yellow/sunny/creamy undertones. Our last seller had an empty house for a year, then got the sale moving (in a week) by covering over reportedly bad colors in common rooms. (ETA: and more importantly, DROPPING the price just into a price bracket that drew more inquirers). Re; the paint: she chose a cold/blueish/white. We knew it was awful before we moved in, especially in this cold climate. </p>

<p>Within 2 years we couldn’t stand it, so repainted in deep colors. I guess we’ll have to paint over when we decide to move on. </p>

<p>If you’re in a hot climate, I guess the opposite advice holds true?</p>

88

<p>I agree with what is said about the elderly. If at all possible, move them First with what they need and want then you can clean out the house and clean it up much more easily.</p>

89

<p>

</p>

<p>Though a frozen pizza will fit flat in a 48" subzero side by side.</p>

90

<p>B&P - I really liked their agent - she was very good with people over 55 (HEY - that includes me!) and she did many of the things you suggested. Sold their home very quickly. </p>

<p>As I said, it was easier because the home was meticulous and my mom hated clutter. When they told me they just liked to get a “peek” at the buyers, I decided I would let the professional handle the folks!</p>

<p>One side issue. When moving older folks, make sure THEY are satisfied that everything is out of the house and the moving truck when they move. DH and I went back to the home the night they moved and had inspected and signed off on moving truck. </p>

<p>You have no idea how many times my parents (actually just my dad) insisted something didn’t get moved. The standing joke between my DH and myself was that the new owner was wearing dad’s sweater or using the can opener or whatever couldn’t be located. Eventually, they found most of the missing items, but they thought I had not packed them. Yes, dad, I did check the back of the closet. No, your sneakers were packed. </p>

<p>One thing that complicated our move was that first they moved to an apartment until retirement apartment was ready, but the day they moved to retirement apartment, as the moving van pulled up, so did the ambulance to take dad to hospital for congestive heart failure. Don’t recommend you try this at your home.</p>

91

<p>

</p>

<p>Never used the master shower while it was on the market or NEVER used the master shower at all?!</p>

92

<p>

</p>

<p>Exactly how is that supposed to sway the seller? I don’t think a seller will take a 10% below asking offer with a house sale contingency and 100% financing with a letter over an asking price, cash offer with no contingency and a 30 day close.</p>

93

<p>I have a photographer in my kitchen taking pictures now. She staged it so nicely, it doesn’t really look like my kitchen.</p>

<p>This morning we had the mover surveying my house - what’s going in the storage and what’s going with us. H and I got kind of testy because we couldn’t agree. A plumber came to put in new faucets. The realtor also came. It was a zoo. Can’t wait until it’s all over. The good thing is our realtor already got few calls and it’s not on the market yet.</p>

94

<p>Never used the master shower at all.</p>

<p>There was a shower in a downstairs powder room, off the family room - THAT was where you took a shower. And she cleaned the tiles every day after dad or guests were finished. Once an errant nephew made the mistake of trying to take a shower upstairs. Mom just froze. She had never heard that sound coming from upstairs. Fortunately she showed some restraint and did not barge in. </p>

<p>It’s amazing I am normal. Or at least as normal as I am.</p>

95

<p>We had a friend who cared more about who would be living in his beloved house than another $20K; he chose his buyers by reading the letters.</p>

<p>I am also in the middle of getting a house ready to sell. Most recent disaster- stripping wallpaper only to find the walls underneath in terrible shape. The plasterer just left and now everything is covered in dust.</p>

<p>My spruce-up tip is fresh mulch; it makes just about any yard look better.</p>

96

<p>I can attest to the power of smell. When we sold our last house we decided to interview realtors before choosing one. The night we were supposed to be interviewing realtors, I was busy getting ready for a school bake sale the next morning and I was baking 8 dozen banana lemon muffins. That night we interviewed three different realtors, one of whom had a young trainee along. We showed them the house, listened to their sales pitches and send them on their way. Later that evening we got calls from two of the three making offers on the house. We ended up selling to the young trainee at about $15,000 more then we had thought we would ask without having to do a thing. She later told us it was the smell of the muffins that did it for her</p>

97

<p>ooooh…banana/lemon muffins… post that recipe for those of us trying to sell our house (and those of us who are not too!)</p>

98

<p>When we were in the market for a lake home, we visited a FSBO property. The owner let us know that they would be at the home on x weekend, so we made an appt. to view the home late morning. My DH and I knew the moment we walked in that this was “our house.” The view is spectacular, high on a cliff, and absolutely breathtaking. If the home had not had that "wow’ view, we would not have been interested. BUT, when we entered the home, it smelled of coffee and bacon. For us, that really gave us a sense of home and weekend living. This goes against all real estate advice (never fry meat before a showing), but in our case, it actually added to ambiance of “weekend getaway” house.</p>

99

<p>We placed a small photo album on the kitchen counter. We have amazing sunsets and also an ocean view. We also live in an area that can get summer fog. The ocean pictures gave the buyers an opportunity to see the potential of the site. Our house for most people was a knockdown. Ultimately after looking at many homes ourselves we decided that we would just be trading one set of problems for another. We pulled our house from the market and bulldozed the house and lot and started over. Living happily in the replacement house 10+ yrs now.</p>

100

<p>future you need to understand the VA market, nobody is going to walk in lowballing. The letters are submitted with strong mtg guarantees and bid. They are trying to sway the owner from taking full price and 30 day settlement to full price and 45 day settlement.</p>

<p>It is truly about the little things when the property is considered “HOT”. Especially with the elderly, they want to leave believing that the house won’t be torn down, but loved for what it is.</p>

<p>Nrds
Coffee and bacon in the morning is not an issue, because it is inviting. It becomes an issue if it still smells like that the next day, because now it is smells rancid. You can fry food, just remember to throw out the garbage bag as soon as you are done eating. Also, keep an eye on your light fixtures because that is where grease typically will collect.</p>