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Post by mom2rjcr on Jan 4, 2024 19:13:28 GMT
We currently live in a two story, 5 bedroom, 4 bathroom 3800 sq.foot house. We have lived here for 15 years. Our house is also paid off. However, we need to sell it, so we can move to a much more manageable house for DH and myself. We bought this house when our four boys were younger. They could walk to school and had friends in the neighborhood. We have to move...we just can't handle it. Also we need the money to buy a new smaller house with cash from the sale of our current house and pay DH's medical treatments.
My house needs some love. Last year we repainted the exterior of the house, so that looks okay.
We don't have the money to repair/replace things at all. So my question is: What do you think are absolute musts we have to do? What can wait and be given an allowance in the sale.
Things I wish we had done:
Replace windows(they have moisture in between the panes) Replace wood floors(they have some spots that all torn up because of the dogs) Repaint whole interior to be cohesive Replace blinds(some are broken, and it is almost impossible to clean them) Replace carpeting upstairs Replace baseboards Downstairs water heater needs to be replaced
Will anyone really buy a house if those things are done? Are we screwed?
Update: We met with the first realtor of three last night. He said we could get a HELOC to take care of the things in the house prior to listing. He said that a house of this size and its location(we are in a planned neighborhood near a great elementary school) it could be on the market for a while. We can't wait awhile. He talked about perhaps using a property management team and renting the house to section 8 renters. We would receive money directly from the government for that. He also mentioned that we could use the HELOC to purchase another home.
Currently our house is worth $450,000 and we can get a HELOC for about $350,000. We are looking at 3 bedroom, 2 bath, no more then 1700 sq. feet.
I don't know if this is good idea or not, but on the other hand we need to move somewhat quickly.
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Post by librarylady on Jan 4, 2024 19:17:33 GMT
Water Heater= replace it or offer $!,000+ towards purchase of new one. Carpet and Paint= Offer $ towards painting and carpet to their taste Blinds: can you remove the broken ones? If not replace. That would be so unattractive, it would turn buyers off.
Hard to say about the wood floors without seeing how much damage is there.
Have you discussed with a realtor?
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Post by ~summer~ on Jan 4, 2024 19:19:28 GMT
I’m sure answers will vary - but all I would do is paint the entire interior, clean rugs (buyer can replace) and refinish hardwood floors. Then clear out house and do minor staging.
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Post by Linda on Jan 4, 2024 19:21:10 GMT
It's going to depend on how extensive the damage is and what the market is like in your area. I would consult with a local real estate agent. We're currently working on the punch list ours gave us to accomplish before listing the old house.
Ours will be listed as-is so we're mostly dealing with safety issues/stuff that would derail financing - we fixed a couple of electrical and plumbing issues, tore off the rotting deck, cleaning up landscraping (basic not fancy) and will have it pressure washed.
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Post by auntkelly on Jan 4, 2024 19:23:33 GMT
I would set up appointments w/ at least three real estate agents to view your house. I would explain the situation to them and ask them what absolutely needs to be done in order to sale your house for a fair price. I would make sure I understood why they were making each recommendation. Don’t be afraid to ask lots of questions and take notes.
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luckyjune
Pearl Clutcher
Posts: 2,685
Location: In the rainy, rainy WA
Jul 22, 2017 4:59:41 GMT
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Post by luckyjune on Jan 4, 2024 19:27:41 GMT
Honestly, get together with a good realtor. Someone skilled can walk through your house and say "Do this, don't bother with that." I know that a real estate company in my area offers short-term, no-interest loans for home improvements. Sellers use the cash to make improvements and then the loan is paid off after closing. You might look and see if a company in your area offers the same.
We sold our "raising kids" house two years ago because we had no business rattling around in a house that size. We had an AMAZING realtor who coordinated the work, got the house staged, got the property listed, and sold within five weeks (that included us moving out!). We replaced all floors, painted most of the interior, and had a landscaping refresh. We didn't use the loan program, but thought it was a great option for people!
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Post by freecharlie on Jan 4, 2024 19:28:15 GMT
Replace the hot water heater or give an allowance upgrade it if you can and make that a selling piint Clean the carpet ubless ir is super gross- they will likely chamge it anyway How big is the scratched area? What do the rest if the floors look like? If the colors on the wall aren't outlandish, you could likely leave them as many people will repaint anyway. If they ate out there and detract from the house, paint them all one neutral color. Baseboards will depend on the damage.
If you sell as is (with the exception of the water heater) you price point will be lower and you won't make as much, but you open it up to some crafty do it yourselfers that don't have the money for a move in ready house
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Post by **GypsyGirl** on Jan 4, 2024 19:34:20 GMT
I would set up appointments w/ at least three real estate agents to view your house. I would explain the situation to them and ask them what absolutely needs to be done in order to sale your house for a fair price. I would make sure I understood why they were making each recommendation. Don’t be afraid to ask lots of questions and take notes. . I would not do a thing until I had talked with 3 agents and gotten their feedback. Based on the market where you live, there is a chance that you might not need to do much more than really clean the house/windows well, declutter and stage it a bit. As auntkelly said, ask questions about why they are making recommendations and also ask how much that money spent will affect the sale price. It's unusual to get 100% back of what you spend, so you need to know where the money is going to do the most good. You will also want to consider the time and effort it involves, especially with your DH beginning cancer treatments soon. You are both going to be mentally and physically affected by his health journey, so add as little stress to that as possible. Absolutely they buy houses like that. It's a good way for young people to get into a neighborhood they might not be able to afford, then fix up as they go. As long as your house is livable you should be able to find a buyer.
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twinsmomfla99
Pearl Clutcher
Posts: 3,985
Jun 26, 2014 13:42:47 GMT
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Post by twinsmomfla99 on Jan 4, 2024 19:35:28 GMT
We currently live in a two story, 5 bedroom, 4 bathroom 3800 sq.foot house. We have lived here for 15 years. Our house is also paid off. However, we need to sell it, so we can move to a much more manageable house for DH and myself. We bought this house when our four boys were younger. They could walk to school and had friends in the neighborhood. We have to move...we just can't handle it. Also we need the money to buy a new smaller house with cash from the sale of our current house and pay DH's medical treatments.
My house needs some love. Last year we repainted the exterior of the house, so that looks okay.
We don't have the money to repair/replace things at all. So my question is: What do you think are absolute musts we have to do? What can wait and be given an allowance in the sale.
Things I wish we had done:
Replace windows(they have moisture in between the panes) Replace wood floors(they have some spots that all torn up because of the dogs) Repaint whole interior to be cohesive Replace blinds(some are broken, and it is almost impossible to clean them) Replace carpeting upstairs Replace baseboards Downstairs water heater needs to be replaced
Will anyone really buy a house if those things are done? Are we screwed?
The windows probably need replaced. We had one window with moisture once when we were selling our house, and it was noted on the inspection report. Floors/carpeting/baseboards—either factor those costs into your sale price or give an allowance. I think most buyrs would prefer an allowance to purchase colors that fit their personal preferences. I know people who automatically replace carpets in a “used “ house because they don’t like the ick factor of other people’s “stuff” being in the carpet or the thought of previous spills or pet accidents. Many don’t like carpet at all, and they don’t want to pay for the new carpet installed before the sale, just to have to rip it out to put down hardwood. Blinds—Are they “in-style” but broken? Or are they old-school mini blinds that are out of date? Or fabric blinds that look rundown? If they look really bad, this would be a turnoff for me. If they are nice enough blinds, you might get away with just replacing the worst ones. Water heater—is it working at all? Again, I would hesitate to replace it because there are a lot of new options for water heaters that provide hot water on demand at the sink. Some buyers might prefer the allowance to upgrade the system over a new water heater. This might get flagged in an inspection, and the age of the unit will almost certainly be mentioned. As a buyer, I would take the allowance over the updates because I would want to choose the replacements. But someone who needs to be in a house NOW might not appreciate have to do immediate renovations. I would ask your realtor for their opinion, because they are the experts and should know what needs to be done to make the sale.
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Post by Lexica on Jan 4, 2024 19:41:47 GMT
I just recently sold my house and bought a smaller home in another state. Mine needed to have a lot of the downstairs gutted due to a water leak that I did not discover until black mold had developed. The area where it was leaking was filled with boxes for my intended move so I didn’t see anything until the bottom boxes had absorbed enough water to crumple, making the stack of boxes lean over. That is when I learned there was this tiny pinhole water leak.
My realtor suggested we update a few things on the house while the repairs from the water leak were being completed. I didn’t have any money for any updates. He then told me about companies that will loan you money to fix your home up for sale if you have the equity. They are temporarily added to the ownership and then they pay for all upgrades. They get reimbursed during escrow once the home sells. It worked flawlessly. My insurance covered the most minimal items from the water damage, and this company paid for everything else. I had everything the realtor wanted done without having to spend a penny of my own money up front. I had a great deal of equity in the house, having lived there for 44 years. I didn’t know there were companies like this, so I was extremely thankful for my realtor’s knowledge and connections.
My advice, obviously, is call your realtor and have them give you a list of what they feel are essential repairs that would affect the salability of your home. We got all of the repairs finished and the listing went live just in time for that first open house on a Saturday morning, and by Sunday night, I had 3 offers that had been preapproved by my realtor’s finance department.
Since you have been in your home for so many years, you could use your equity for the repairs like I did.
ETA, I had very thoroughly cleaned my wooden blinds in preparation for the sale. Yes, I knew they were dated, but I thought any window covering was better than none. But the realtor disagreed and had the painters dispose of all of them. And he was right. The buyers didn’t ask for window coverings on their small list of asks. I did end up crediting them for some landscaping around the pool. I had been slowly updating it, but it wasn’t finished. The landscaping and replacing the dishwasher were the only things on their list so I just gave them a credit to finish the things on their own.
Also, I had 99% of the house packed up into pods and removed from the property, making every cupboard and drawer clean and empty. My realtor paid for a staging company to come in with minimal furniture to create a homey look.
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quiltz
Drama Llama
Posts: 6,704
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Jun 29, 2014 16:13:28 GMT
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Post by quiltz on Jan 4, 2024 19:48:13 GMT
Replace windows(they have moisture in between the panes) Replace wood floors(they have some spots that all torn up because of the dogs) Repaint whole interior to be cohesive Replace blinds(some are broken, and it is almost impossible to clean them) Replace carpeting upstairs Replace baseboards Downstairs water heater needs to be replaced
Will anyone really buy a house if those things are done? Are we screwed? I would not do a thing until I had talked with 3 agents and gotten their feedback. Based on the market where you live, there is a chance that you might not need to do much more than really clean the house/windows well, declutter and stage it a bit. I wouldn't do anything. The color that you pick might not be what someone else wants or perhaps they want a different style of winder or blinds or anything else. My friend is a realtor and would say to simply sell as is. Don't even do the water heater as the purchaser may want a different brand or on a payment plan. People are fickle. If you want a quick sale, just sell as is. Let someone else pintrest this house to their style.
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Post by Basket1lady on Jan 4, 2024 19:48:34 GMT
We just bought a house in August. You can sell anything if it’s priced right.
When we were looking (first week of June), houses were going FAST. The good ones were on the market for mere hours. We literally were standing in 3 separate houses when they went under contract. The #1 thing that I was looking for was maintenance. Was the house maintained? What was the age of the roof? The furnace? The air con unit? How clean was the house?
We bought a house with a 25 year old furnace, but we knew that. There were other things about the house that made it attractive to us. It had 2 primary suites, a large 2 car garage and another separate workshop. It had a studio space for myself and good sized bedrooms. The updates to the house were well done and obviously top quality. The yard is fenced for the dog. The kitchen is original, but has been updated. And I’m designing a new one that will be exactly how I want it.
I would pull the blinds down. The only blinds that it had were in the primary bedroom and bath and on the back door. The blinds in the primary BR/BA are the new cellular shades, but the ones on the back door are a very dark brown. I strongly suspect they had the dark wood blinds throughout the house and just took them down. The floors are a darker color, the walls are brown, and their furniture was brown. It must have been so dark!
Either deep clean the house yourself or have someone do it. As in pull out furniture, scrub the corners, the showers, etc. Get rid of clutter and sell the furniture that you no longer need. At least touch up the paint in the most visible areas. Even paying a cleaner should cost less than $1,000 and the sale of the extra furniture should cover that.
Add a rug over the wood flooring damage if you can. If you are in the Minneapolis area, I have a HUGE tan rug that you are welcome to borrow.
I wouldn’t replace the hot water heater. Ours are often done through the city and they are guaranteed for x number of years. They always go out before that. My aunt is on her third freebie. The water is extremely alkaline here.
Talk to your realtor about offering money for replacement of some items. You may not need to. We weren’t offered anything for the furnace and didn’t ask, nor did we ask for money for the missing window coverings. We did ask for money when the inspection found that the chimneys were cracked and unsafe. But we fixed all the other little details ourselves, including a plumbing leak and an electrical issue.
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samantha25
Pearl Clutcher
Posts: 2,909
Jun 27, 2014 19:06:19 GMT
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Post by samantha25 on Jan 4, 2024 19:48:53 GMT
How is the roof?
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huskergal
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Posts: 2,997
Jun 25, 2014 20:22:13 GMT
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Post by huskergal on Jan 4, 2024 19:54:27 GMT
Talk to a realtor. The market makes a huge difference for what needs to be done.
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Post by lisae on Jan 4, 2024 19:57:01 GMT
You definitely need the advice of realtors. I'd get at least 2 opinions, maybe 3. Personally I think the windows and the water heater would be the priorities. The other items are more cosmetic, and the new owners might want to make different choices than you would make. It may be better to just remove the blinds altogether.
Given the low inventory of housing, you are probably in a better position to sell than you think. It sounds like your house is in a good neighborhood for families.
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Post by smasonnc on Jan 4, 2024 20:07:37 GMT
We sold our home several years ago in an OK market. It was in a desirable neighborhood for schools. Our realtor had us do a bunch of updated cosmetic things like a more modern chandelier and we took a good offer. The buyer wanted us to do a couple of minor things after the inspection. We said no. If you want the house, that’s the deal. They took it.
You’re in a good spot having the home paid for. Clean up, as up as best you can. Take down broken blinds, family photos, knick-knacks, personal art, etc. Get rid of clutter and any extra furniture to make the rooms look bigger. If you stage the house right it will sell.
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Post by melanell on Jan 4, 2024 20:28:56 GMT
Replace windows(they have moisture in between the panes)
Replace wood floors(they have some spots that all torn up because of the dogs) Repaint whole interior to be cohesive Replace blinds(some are broken, and it is almost impossible to clean them) Replace carpeting upstairs Replace baseboards Downstairs water heater needs to be replaced
Will anyone really buy a house if those things are done? Are we screwed?
I'd probably replace the water heater. I think as a buyer I like to know that things like that are newer and/or are working well. Of the rest of the list, as a buyer, the moisture in between the panes in the windows would be the thing on that list that would concern me the most. I see moisture and I immediately think that things might start to mold. Do the floors actually have to be replaced or can they be refinished?
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Post by cadoodlebug on Jan 4, 2024 20:46:46 GMT
When DH was still actively selling, you could only give credits towards closing costs. For instance, if the house needs a need roof and windows, you couldn't give a credit for a new roof/windows at closing if it would cost more than the closing costs. If a buyer is paying cash, this wouldn't apply. Maybe things have changed or this doesn't apply in your state. Like others have said, interview a few realtors that you trust.
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Post by busy on Jan 4, 2024 20:53:43 GMT
Like others have said, you really need to talk to local realtors because so much is going to depend on your market. You may need to do some work or you may be able to sell as-is and make some allowances. Most of what you mention is cosmetic in one way or another (except the windows) so I'd hesitate to do any of those things so the buyer can choose their own paint color(s), their own hardwood stain color, etc. I'd definitely clean the carpet and be sure everything is super clean, but anything beyond that - take your realtor's advice.
I think the water heater is the only thing that really should be done. It will probably be under $2k.
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Post by mom2rjcr on Jan 4, 2024 20:59:51 GMT
We replaced the roof about 8 years ago due to hail damage. We also upgraded the roof at the time too.
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Post by crazy4scraps on Jan 4, 2024 21:07:28 GMT
I agree with everyone who says talk to 2-3 realtors who are familiar with your market and ask them what their thoughts are. Personally, I would take down the broken blinds and either wash the walls or touch up any dings if you still have paint that matches just to freshen things up. Then declutter and clean, clean, and clean some more. I could deal with an outdated house but I wouldn’t even consider one that wasn’t fresh and clean.
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Post by littlemama on Jan 4, 2024 21:15:12 GMT
I dont think you have to do anything cosmetic.
As far as windows and other functional items, you can either replace them or be prepared to give a buyer a credit so they can replace them.
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CeeScraps
Pearl Clutcher
~~occupied entertaining my brain~~
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Jun 26, 2014 12:56:40 GMT
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Post by CeeScraps on Jan 4, 2024 21:33:42 GMT
We just sold a couple of years ago.
Replace windows(they have moisture in between the panes)--WINDOWS.....you may be able to just get new glass and then they'd seal it for you. The moisture is gone. Call someone to look at them.
Replace wood floors(they have some spots that all torn up because of the dogs)--skip it. They will do their own flooring. You could put throw rugs or area rugs over the spot. That way the room would look nice until they move the area rug.
Repaint whole interior to be cohesive--Can you paint white?
Replace blinds(some are broken, and it is almost impossible to clean them)--We took blinds down. So there were no window treatments on some windows. Consequently no questions were asked.
Replace carpeting upstairs--skip it. They will do their own flooring. Get someone to clean it for you. We did this. It was amazing how nice they turned out.
Replace baseboards--Why? If they are damaged can you paint them?
Downstairs water heater needs to be replaced--Water heater is a necessity. I'd replace it.
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GiantsFan
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Posts: 8,294
Site Supporter
Jun 27, 2014 14:44:56 GMT
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Post by GiantsFan on Jan 4, 2024 22:21:32 GMT
Things I wish we had done:
Replace windows(they have moisture in between the panes) Replace wood floors(they have some spots that all torn up because of the dogs) Repaint whole interior to be cohesive Replace blinds(some are broken, and it is almost impossible to clean them) Replace carpeting upstairs Replace baseboards Downstairs water heater needs to be replaced
Will anyone really buy a house if those things are done? Are we screwed?
Contact the window manufacturer. Some companies have a lifetime warranty and might replace them for free. We've had two of ours replaced. (milgard maybe?) Sand and refinish the floors. Repaint with a neutral color. Just remove the blinds and get easy to install rods and drapes. Just have the carpets cleaned. Unless the base boards are damaged, just clean them. Everything is negotiable during escrow. Example - Carpet in a house we sold needed to be replaced, so we gave the buyers back $1000 or whatever it was during escrow. A Realtor can help you figure out what needs to be done before listing. ETA - Regarding paint. You might just leave the paint. We bought our current house one bedroom was dark blue and the other had four different colored walls - pink, yellow, green and blue - like they couldn't decided what to do.
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Post by peasapie on Jan 4, 2024 22:22:45 GMT
I’m sure answers will vary - but all I would do is paint the entire interior, clean rugs (buyer can replace) and refinish hardwood floors. Then clear out house and do minor staging. This is exactly what I was going to say.
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Post by papersilly on Jan 4, 2024 22:43:56 GMT
to me it depends on if it's a buyer's markets or seller's market. if it is a buyer's market, you may be at the mercy of the buyer if they want stuff done if they will buy your house. if you have stiff market competition out there, you may have to provide allowances for some repairs or improvements if you will not do the work yourself. on the other hand, if it is a seller's market and there might be multiple offers, you may get away with doing little or nothing to the property and buyers will still climb over each other to buy it. our area is a buyer's market most of the time so people get top dollar for selling as-is. the houses listed in our area is either completely remodeled or as-is. some sellers won't spend the time and money for a partial remodel if they can get a lot anyway for doing nothing.
talk to you agent to see what type of market you are in. i wouldn't do some of the fixes you outlined (floors, carpet) if the buyers will remodel the house anyway. roof yes, water heater maybe. windows are not cheap and what you choose may not be what the buyers want.
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Post by iamkristinl16 on Jan 4, 2024 22:45:33 GMT
I would talk to a realtor so they can tell you what would be more beneficial and what would not be helpful in the sale.
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Post by peatlejuice on Jan 5, 2024 0:21:26 GMT
DH and I just did the buy/sell thing less than two months ago. Having our realtor come walk the house first was a godsend, as she knew exactly what would need to be repaired/replaced. I would also recommend having someone come look at your HVAC and roof to make sure you are up to city code. I'd done replacements on both before we chose to sell, and my realtor was so relieved, as out of date code violations often catch people by surprise. Another thing to remember is that you can offer repair allowances for anything you don't want to repair/replace yourself.
As a seller, besides having done the code and appliance upgrades (which I think was a huge selling point), we also had to replace the baseboard since the damage was termite-caused. We didn't have window moisture, but our realtor did tell us that "between pane moisture" is a common inspection item. We opted to replace carpets and countertops. Our realtor said we could very easily have done the allowances on them since the market is moving fast here, but we chose to do them.
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mimima
Drama Llama
Stay Gold, Ponyboy
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Jun 25, 2014 19:25:50 GMT
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Post by mimima on Jan 5, 2024 0:29:12 GMT
I'm a Realtor and I agree - talk with a couple of brokers/agents (depending on the vernacular where you are,) and find out what the market conditions are, if they offer loans for fix-ups (my company does, through an outside bank,) and what they would recommend that you do. If you have the wherewithal, you may wish to move out and then stage, clean, repaint, etc. I also agree that a new hot water tank will be a must - as you want that while you are there anyway!
Good luck! I am sorry that your Dh's heath necessitates this sale.
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Post by revirdsuba99 on Jan 5, 2024 1:02:44 GMT
Four boys? Four phone calls, come paint! If the rug must come up, they can do!
Yes talk to the realtors!
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