The age old quandary for sellers is the condition of their property before they list it for sale. There are always a number of small defects or problems. Simply put, they need to be fixed. The question, however, is should you go ahead and do it or have the buyer do it by selling the home ?as is?? Obviously, the choice is subjective, but it usually pays to make the repairs ahead of time. There are a number of reasons for this approach.
When you go to sell a home, you have to keep in mind that you are competing with other homes that have been listed. Buyers often see the potential in a property, but the need for repairs can sabotage this. The small problems consciously or sub-consciously tell the buyer the home has not been maintained. They often start to wander whether there are other problems they just haven't found. When push comes to shove, they may take a home in better condition over yours. In short, making the repairs before listing the property is a good way to beat the competition and get a quick sale.
A secondary issue with the decision on repairs is control. Simply put, you are in a much better position to control the cost of repair if you do it before the listing. If you leave the process to the buyer, there is some risk that the buyer may come back and complain that much larger and more expensive repairs are needed. Once you give control of the repairs over to the buyer, you could end up seriously regretting doing so.
The final reason to do repairs prior to listing a home is the valuation of the property. You might be surprised to learn that a home in tip top shape is going to be valued higher than others in the area. Appraisers are human beings. A home that is in excellent shape generally is going to get a better appraisal than one that has problems.
At the end of the day, only you can decide the best course of action on repairs. In most situations, it makes sense to do them ahead of time.
