The Achilles’ Heel of the House You’re Selling
Cutting your asking price is the
swiftest way to cope with a weakness in your property. But it’s not always the right
answer. Some weak points can and should be corrected.
How can you identify and deal with the shortcomings of your home? Realty specialists make
these suggestions:
Correct what is correctable.
Granted, you probably can’t
easily add a second bathroom to a condo apartment. But many other home problems are more
responsive to improvement.
Another agent tells the story of a family that lived with 10 cats in a ranch house that
was built on a concrete slab.
The house was so fouled by cat odors and stains that he recommended that all of its
wall-to-wall carpeting be removed, that the concrete slab by chemically cleaned, and that
new carpeting be laid.(up)
The entire project cost the clients $5,000. But the listing agent on the property said
that the owners would have been compelled to take a $50,000 discount if they sold the
place without resolving the cat issue.
If a house has a problem, it can often be better to fix it than discount it.
Consider creative advertising to deal with some shortcomings.
Without lying, you can — in
many cases — highlight the positive aspects of your property.
You might describe a property with skimpy grounds as having "an easy-maintenance
yard." A place on a steep hill has a "beautiful view." By the same token,
you might note that a property features "an oversized one-car garage."
Your "problem" may be another’s "feature."
There are a number of home
features that draw mixed reactions. For example: a 14-foot tall foyer that’s topped
with a spectacular light fixture. Some buyers will look upon that as a handsome detail.
Others will think only of the difficulty of changing bulbs and lost heat.
Another feature that draws mixed reviews is a garage converted to a family room. Most
buyers want an interior space to park a car. But an occasional buyer will relish the
family room space that a garage affords.
Place your home’s shortcomings in context.
The need to make trade-offs is part of the reality of home selection for virtually every buyer. There’s no need to get defensive about a home with an imperfect location — such as a backyard that borders on interstate highway. At the right price, nearly anything will sell.
Smart Moves by Ellen James Martin. Copyright 1998 Universal Press Syndicate. Reprinted with permission. All rights reserved. Copyright 1998 Norwest Mortgage, Inc. All rights reserved. This material may not be reproduced in any format without written permission. Norwest Mortgage and design is a registered service mark of Norwest Corporation. Information subject to change without notice. 8J0518C (5A1123)
