More than ever, deferred home maintenance items need to be addressed before listing a home for sale in the traditional retail market. Even though in the Metro Phoenix area, there is low inventory. The consumer’s expectations do not change.
Due to the abundance of information, the internet brings us, people are becoming more and more particular with the condition of the home. Below is a list of the Top Four deferred maintenance items that will kill a sale if they are not addressed prior to listing your home.
If you have a unit that’s beyond its useful life of 15-25 years of age. There is a good chance the buyer is going to ask for a new one or a credit at the close in lieu of repair. Typically buyers do not want to endure any large expenses within the first two to five years of owning a home, so if your unit is not functioning properly with splits of 18-22 degrees or is beyond it’s useful life the buyers could cancel. The HVAC unit is a major mechanical component to homes here in Arizona. Prior to listing your home for sale you should have your unit serviced or replaced if you’re expecting to receive TOP dollar for your home.
The roof is typically another major structural component to a home that will quickly kill a sale if it’s in need of replacement. If your home has a roof that’s beyond 30 years of age, and or is in terrible shape showing signs of leaks, get this addressed prior to listing your home. That is a major expense that will keep it from selling in the retail market. If cost or monies is an issue, you may want to consider selling to an investor.
There are two types of homes here in Arizona, homes with termites, and homes that are going to get them. While termites are not as detrimental to a home in Arizona as they are in the southeast. They are still a nuisance and an expense a potential buyer does not want to deal with. Have a termite guy come out and inspect or treat them. There is typically a warranty that is transferable. Being able to provide this to a buyer will ensure a piece of mind and alleviate one more item being asked for on the BINSR.
If you have any dripping or leaking sinks/pipes on the interior of the house that could be causing water damage or creating mold issues. Get these addressed immediately. If noticeable to the layman’s eyes, these will be issues that will prevent offers from even being sent.
As mentioned before, if these are items that are not affordable to address consider these two options: a HELOC (Home equity Line of Credit) or selling to an investor. Investors will purchase a home as is, and make these repairs, prior to resale. They do collect a convenience fee for doing this; however, this takes the stress and hassle out of prepping your home for sale. If you would like more information or a free consultation/evaluation on your home, please give me a call at (602)428-7200.