The City of Denver offers so much to residents, but also to our visitors! You will find cultural events, festivals, some of the best restaurants around, architecture, shopping and sporting events. The beauty of the Rocky Mountains is undeniable, and a sought after feature when purchasing a home!
Sunday, May 19, 2013
When the Seller says no to Repairs....
Denver’s real estate market is still on FIRE, and many sellers are sitting high on their horse feeling like King of the Mountain. It is a fact, if a buyer walks, there will be another..... but.... you have to disclose those inspection issues identified!
Working with buyers in this market is challenging when you are competing, and buyers are assuming they need to accept a property AS IS. Not all sellers are this greedy, hopefully with a good offer, they will work with the buyers on any serious inspection issues.
I remember a fix n flip last year that was exceptional (on the surface) and the buyers absolutely knew this was the one ... until the inspection. Serious items were found, plugged drains in most of the sinks, dishwasher flooded the kitchen, no venting in the laundry, piping stopped in attic when it should go through the roof, decking was "squishy" and the list went on and on. The red flag was when the agent never changed status in MLS. I hope the new buyers knew all we knew....
Blue Ribbon home warranty
A couple of great tools to use when you have a stubborn seller, Lowe’s has given us REALTORS® a benefit of offering buyers and sellers a one-time 10% off coupon. Another tool I use when inspection issues are not corrected, is purchase a home warranty. This gives a buyer a year (or 14 month with Blue Ribbon) a sense of calm knowing if the water heater goes out, the expense is only $50 for the service call.
Lowe's Realtor Benefits
A Balanced Market is best for both buyers and sellers, but nice to come up with Plan B during a market that swings towards the buyer or the seller! As a Denver Realtor, I have assisted many buyers through this process.
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