Buy a House Fast

When most people prepare sell their homes, they try to spruce it up to attract a new buyer.  This may mean a little painting, decluttering, and staging or could go into more major things like replacing the roof or the carpeting. Despite all the press about how competitive a seller must be in this market, some still cling to the idea of “why should I fix this up for someone else?”  They want to sell “as is.”

Ideally, sellers should have a game plan years in advance and schedule improvements that provide family enjoyment and good potential resale value.  Things like decks, modernized kitchens and baths, and finished attics offer a nearly dollar-for-dollar return at resale.  (This assumes they were not done 30 years ago and are now out of date!)  Additions and renovated offices may serve the seller’s needs but don’t translate into as high return at selling time.  Amenities like pools may even be deterrents to buyers.

But then…

Many people live in their homes without any plans of moving on, so undertake projects as time and money permits – or not.  Then, life happens. A job transfer, a divorce, an empty nest, a change in health, unplanned love of a home in a new development…  Suddenly, moving is a priority.  When they want to go, selling the house “as is” seems like a great idea.

It is true that new buyers come in with their own ideas of how they want to decorate.  Most potential buyers look at any home and think about what they would do in the future. This does not mean they want to pay top dollar for a home with” possibilities“ – and green shag carpeting, harvest gold appliances, and disco mirrors in the basement just won’t cut it.

What to do on a budget…

A good Realtor® will help the seller sort out what needs to be done.  If the sellers are on the verge of foreclosure or bankruptcy, major renovations are probably out of the question as they are too cost.  The seller still must still do the basics of cleaning and painting the house to give it fresh look and then work with his Realtor® to price it aggressively.  The Realtor should prep the seller for a low offer and more time on the market.

For people who need to sell, Express Realty Services can sell your house fast.  There is another answer. Our sister company Express Homebuyers can buy your home outright with no closing costs.

If you were buying a used car, you might take it to your mechanic for an inspection.  If it came back with a a recommendation that you buy new brakes, you could live with that. I f it came back with a report of impending transmission problems, you might pay the mechanic and run like the wind away from the deal.

When you buy a house, you should perform similar due diligence and order a home inspection.  Though laws in most states favor buyers when you find a major defect in your new house, it is time consuming and inconvenient to pursue actions with sellers after you have moved into your new home.  Assuming the problem is not major enough to void the contract, you may be stuck with a home with a flaw you would not have accepted had you only known it existed.  A simple way to prevent most dilemmas like this is to request a house inspection as a contingency of your offer.  This may seem like a no-brainer for distressed properties, but it makes good sense with any home.

What’s Covered

The inspection should cover what can be seen in major systems from roof to foundation.  Separate inspections may be necessary for termites, septic systems, or other specialized things like spas or pools.  It is not designed to critique aesthetics or lifestyle.

Ideally, when the inspection takes place, you should be there, but the seller should not.  The seller needs to provide access to all parts of the home and have the utilities on. The process might take several hours. If you are unable to be there for the whole inspection, try to come at the end so the inspector can walk you through the house and explain his findings before preparing his report.

What If…

When the inspector discloses his findings, you may have some decisions to make.  How serious are the flaws he found? How much will it cost to fix them?  What is the priority to fix them?   If the problems are serious enough, you might not want to complete your purchase.

Depending on the findings, your real estate agent may be able to use them to help you negotiate on price.  If the seller already mentioned a problem before the inspection and set the price based on that, it is unlikely he will further drop the price based on that.   If the flaw is a minor one or one that a sequence of previous owners have lived with, the seller may give a little to sell the house in this buyer’s market, but your agent can guide you as to what is reasonable to expect.

Prevent Problems

Though laws in most states favor buyers when you find a major defect in your new house, it is time consuming and inconvenient to pursue actions with sellers after you have moved into your new home.  Assuming the problem is not major enough to void the contract, you may be stuck with a home with a flaw you would not have accepted had you only known it existed.  A simple way to prevent most dilemmas like this is to request a house inspection as a contingency of your offer.