Can There Be Buyer Turnoffs in a Strong Sellers Market?
As a potential seller in the current Twin Cities real estate market, you may wonder if there is such a thing as home buyer turnoffs. Ponder no more because the answer is a yes. Although sellers can consider themselves lucky, there are still some red flags that will chase buyers away. Check with any top Twin Cities Realtor and they will confirm it.
I’ll talk about those significant buyer turnoffs in a minute. But first, consider that as a seller, there is a fundamental rule that applies no matter who the market favors. When you sell your home, prepare it to look it’s absolute best and reap the rewards. If you want to sell your house for the best price with the least amount of stress, that will not happen if you give it a lick and a promise and sweep the dust bunnies under the carpet.
Taking that a step further, you can clean and shine and give your walls a fresh coat of paint, but there are three things that you should probably consider resolving before you have your Realtor throw up his “Home For Sale” sign out front. We are going to define these as significant buyer turnoffs that will have them headed out the door quickly. Ready? Here they are.
Every home has its particular smell. If you live in it every day, you will not detect it, but someone who walks in off the street will smell it immediately. When buyers enter your home and have to hold their nose, they are not remotely likely to make an offer. In houses I have toured with buyers I have encountered the smell of sweaty, dirty laundry, wet dog, bacon grease, body odor, mothballs, sewer gas, animal urine and feces, mold and of course, cigarette smoke.
To get rid of some of these odors, like cooking odors, you can air out the house, and it should be fine. For the severe odors, there will be more expensive and extensive actions to take. However, when we are talking about sewer gas, chemical fragrances and mold you will need to find out the cause and source of these unpleasant smells and address them. For cigarette smoke, you will need to call in a professional service to get rid of it. Your Twin Cities listing Realtor can help you find someone to remedy your problem.
The Monster in the Basement AKA the Gravity Furnace
Gravity, or Octopus furnaces, are outdated and incredibly inefficient. These antiques are only about 50% as efficient as modern furnaces. They take up a vast amount of floor space in the basement which can conflict with a buyer’s need or desire to refinish the lower level space. As if that were not enough, many of them contain asbestos.
Gravity furnaces are another of those buyer turnoffs that most do not want to deal with at all. If they do, the offer they will present is going to be considerably less then you ask based on the most expensive estimate for replacement. Taking care of this before you sell is most often the best and most economical option for a seller.
High Replacement Cost Replacements
Most buyers, especially first-timers, do not have a great deal of spare cash after closing to pay for expensive repairs. If the roof is at the end of its functional lifespan, a replacement before selling might be the best option. Outdated electrical systems, especially those that still have fuse boxes is another of those significant buyer turnoffs.
A seller can of course deal with these issues by offering buyer credits at closing. If an older home has several of these issues, another alternative is to look for an investor sale. There are still many home flippers in the Twin Cities looking for problem homes.