Has anyone sold a house lately? Advice needed!

[Raven]

I have had my house in a suburb outside of Boston on the market for several months. I'm living in NH so fortunately I don't have to be around when it's shown. Recently, I dropped the price. This house is in a great school district with a view of the Boston skyline. It has all new updated systems and is in very good shape. I just got an e-mail from my broker saying that he had shown the house for the second time to some folks. They spent 1 1/2 hours going through it with a fine tooth comb. They brought a "relative" with him who the broker thought might be a home inspector. They complained that some of the windows in the house had broken sash cords. They mentioned a few other very minor things that were wrong with the house.

My feeling is this: when I dropped the price, I specifically told the broker that, except for code violations, this house was being sold "as is". I'm afraid that if I start negotiating with people on window sashes I'll be on a slippery slope. Any thoughts on this?

[Misinformed01]

1. Send Will over to fix the sash cords

and tell him I said "hi."

[Raven]

23. Hah! Will is dangerous!

I sent him over there to sweep the attic and he put a broom handle through the attic window. I don't think I need a one man wreaking crew on the window sashes!

[VelmaD]

2. Never owned a house

so I'm not sure if I have any great advice. But I personally wouldn't start negotiating on every little thing. I think you're right about the "slippery slope". And what the hell is a "sash cord" anyway?

Stick to your guns and tell the broker that when you said "as is" you meant "as is" and not to let people pull this oenny-ante crap.

Velma - who wants a house really badly x(

[jmowreader]

39. A Sash Cord

The "sash" is the part of the window that has the glass in it. They have to be counterweighted so that when you open the window, it doesn't slide back down.

The sash cord is a piece of thin rope with the sash at one end and the counterweight at the other.

New windows don't have sash cords; they generally have a screw mechanism that keeps the window from sliding down. Both work, but the screw mechanism won't break as easily as a sash cord will.

[stopthegop]

3. you may have to dicker more...

but that may be required to sell it..depends partly on whether you're in a hurry...if it's empty now and you're still paying a mortgage..sash cords sound cheap

[wysimdnwyg]

29. "you may have to dicker more..."

Hey, no sex threads!!!! :evilgrin:

[bloom]

4. I agree with you.

Let them make an offer. You can accept it or reject it - but sash cords - sheesh.

The people sound interested enough.

[cally]

5. My advice FWIW

Agree on a price reduction to fix the sashes when they own the house. That way you are not responsible for unexpected problems and the contractor hassles are theirs. I've done this in several houses. The few hundred dollars you lose will be insignificant if you can sell the house quickly.

Edit to add: You need to give in on the minor issues to create good will. This is a minor cost. I've paid for some absurd things when I sold my house. Look at the big picture. Window sashes are relatively cheap.

[stopbush]

6. Homes are sold "as is" - as far as I know.

Ask your broker to fax you a copy of your state's standard contract agreement. It should outline everything. It should also give you the opportunity to cross out anything you want - a line-item veto - to remove as a condition for selling the house. For example - you have an old freezer sitting in the basement that's on it's last legs. You're better off removing that as being included in the asking price of the house. If you include it and it breaks down before you close, you'll be required to repair it at your expense.

Broken sash cords? Give me a break.

Talk to your broker. You need to have a lot more information at your fingertips than you seem to have at this point. If your broker doesn't give you all the info you feel you need, get another broker.

BTW - we sold our home in NJ last May.

[Beaker]

27. not always-

buyers seem to have gotten a lot more uppity about asking for repairs or credit towards having them done.

spoiled baby-boomers and their kids and such...

[Tesha]

41. While they are sold "as is", you...

While they are sold "as is", you are legally obliged to
disclose defects that are known to you and the buyer
certainly has the right to look for the things you missed.

And the price is obviously negotiable for any number
of reasons including defects you've disclosed or that
they've discovered.

The practical upshot is that if you want to sell the
house, either fix the sashes or offer them the money
that it will take to fix them.

Tesha

[madrchsod]

7. they were not serious

and don`t negotiate. these people are more trouble than they are worth. if your house has all these things going for it,you`ll find someone who will over look broken cords

[cally]

9. Not in my experience

Just cave in with some money to make them happy. It's ridiculous to negotiate over 500 dollars. Give it to them, settle it, they think they won, but you just sold your house. :-)

[ZenLefty]

14. I think they're serious

If they spent that much time, and two visits, they're serious. But either they're first-time home buyers (who don't know that broken sash cords are the least of their worries) or they're too nit-picky to deal with. Either way, they'll be a pain in the p'toot from day 1 through closing (beyond if they're attorneys). But I do think they're serious.

[ScreamingMeemie]

8. I appraise homes and I think the dropped price is enough. If the

house is listed as is..as is it is. Stick to your guns on this one. Because even after the sale, they'll find something to bite back at you for.

If you've got the school district and the views and some of the major updates done a few broken sash cords won't matter. A window is a window from an appraising point of view.

Good luck,
Laura

[bubblesby2002]

36. I agree with MrsGrumpy....

I am an appraiser too, only in BC. So not sure what's different out east and in the US. But, as is where is, means just that whether in Canada or the US. Tell your agent again. And a word of advice - don't let these buyers (if they end up buying your home) know where the heck you live. Some people are just dickheads.

[ZenLefty]

10. Slippery slope

You'll end up reducing the price even more. A $2000 'broken window sash cord' allowance may seem silly now, but just wait until they write it into their counter-offer (and Gods-know what else they'd bring up). :eyes:

However, I get the impression that they really want to buy the house, they just want to play hardball to get the best screamingest deal they can get. My personal experience in real estate tells me to avoid buyers like this unless you have no other choice.

[Nite Owl]

11. They or any prospective

buyer would most likely get an inspector before the closing and as part of the contract. Try to find out how much this would be to repair and offer them a credit. The housing market has been strong because interest rates have been so low but that seems to be ending. They certainly won't go down any more. I would sell while the going is still good. Have they made an offer?

[Raven]

15. No offer as yet.

The advice here has been very good. I think I should wait for an offer and then deal with the home inspection when it comes in.

[stopbush]

21. I would strongly advise against you getting into any argument

based on such niggling details as sash cords.

We took the position that our house was being sold "as is." That's pretty straight forward. Maybe your state does it differently, but I doubt it. You're better off giving in a bit more on the price without tying it to anything specific than going down the road of "$100 off for the sashes." Go that route and the problems will never end.

First-time buyers notice crap like sash cords because their living space experience revolves around trips to Pier One for purely cosmetic improvements to their house or apartment. Experienced home owners worry about water damage, drainage, foundations, termite treatments, electrical systems and the age and condition of the roof. First-time buyers are easier on the one hand because they don't really know what to look for, but an experienced buyer can be a smoother sail because they know what's realistic to expect when purchasing a home.

Just my 2¢.

[really-looney]

12. What town

I may be relocating to Boston from Northern VA so the sticker shock of the Boston housing market will not be so dramatic. It is amazing what a house costs in the close in communities. Started looking in Arlington and Lexington I need to look a little further

[Raven]

19. I'm in Newton, in the Chestnut Hill section of Newton.

I'm in the Ward School district which is the best elementary school district in the city. I'm close to public transportation and to the Mass pike. I'm across from a golf course (public). The house is a ten room, 4 br, 2 1/2 bath house. BUT, it sits up on a hill with about 23 steps to the front door and it's an older home. Also, an early 90's kitchen with NO granite counters or chi chi appliances(shame on me!).

Arlington is a great town. There are some neighborhoods near Spy Pond that I have always thought were great. Access to Boston is good from there too. I grew up in Belmont so I know the area pretty well. Let me know if you have any questions as you look around.

[radwriter0555]

13. Here's how ya do it: (just went through the same thing)

In my reply to their offer, which mentioned specific minor "trying to haggle over the price' defects, I specifically replied that

"..the condition of the 3 window sashes was already considered in the price reduction and no further reduction will be made..."

OR, just give them the $60 allowance per window that it will cost to have them repaired, OR have them repaired for $30.00.

Where do I get the $30? Go to any decent hardware store and buy SASH SPRINGS. Depending on the size of the window, you will need anywhere from 1 - 4... the box will tell you what you need.

And then, keep it ALL in perspective. If giving them a break of $1500 will sell the house, clean and simple, just do it...

[MercutioATC]

16. Tell them the price reflects the needed repairs. Alternately,

offer to have them pay more and kick in cash with the sale (You ask $200k and they say it needs $5k in repairs. Offer to kick in $5k if they pay $205k for the house). This can be attractive to buyers who want to make repairs but don't have a lot of cash because they're getting what's essentially a home equity loan built into the mortgage. You DO take a VERY small hit on this, though, as some fees are computed on purchase price and you'll be paying a proportion of some of those fees.

It's not a must-do, but if you want to make the sale, it can help.

[FlaGranny]

20. That might be good advice, but it all

depends on the appraisal. No lender will give the buyers a loan for $205 thousand if the house appraises at $200 thousand.

Last year we sold our house to the "buyers from hell." Never, ever want to go through that again.

[MercutioATC]

24. Agreed, but most appraisals will come in at sales price, regardless

of actual value (unless it's WAY off). 2 1/2 percent shouldn't make a difference.

As long as the basics are O.K., the bank WANTS to make the loan. The bank hires (and pays) the appraiser. The appraiser will, therefore, usually make the appraisal come in at a number that will allow this to happen.

Some banks allow you to use your own appraiser. It never hurts to know a "friendly" appraiser.

[3rdParty]

17. you need a better realtor (preferably a sleazy one)

Find out the average time a house stays on the market in your neighborhood. (Make your realtor earn their keep) If the housing market is good in your area (like it is in most of the country), you should have received an offer within 3 weeks. Here in NJ I have known of 8 different houses/condos of friends/relatives and ALL have sold within 1 month with all at least 3K over ask. Weichert is the best in our state but I don't think they are as ingrained in your area yet.

[streakr]

18. Take an offer...

then counteroffer and agree to fix those items listed in the contract. Be sure to counter closer to your price, then offer to "give" them a couple of grand at closing for "repairs"

Another option is to offer to pay for a home warranty for the buyer; this should run no more than 500-600 bucks. When we bought our current home we required the seller to do this and it has proved to be a godsend..the first year both A/C evaporators failed to the tune of 2 grand but we paid only the deductible of $100 plus a gratuity to the mechanic (another 100). We renewed the policy on our own dime (500/yr)and saved another bucket o' money to repair a leaky tub and ruined ceiling.

If you can afford it, rent or buy (thrift store) some nice furniture to make the house look comfortable. Repaint if need be..this really helps. I would think that houses in the Boston market would be easy to sell but yours needs something to "excite" a buyer.

I'm not a real estate agent or broker, just an experienced home owner and job mover; 7 houses bought and sold in 21 years.

streakr

[Raven]

22. The house is furnished.

I left all my furniture in it but got rid of all the personal stuff and frou frou. It is freshly painted in neutral colors and regularly landscaped and cleaned. It is in "move in" condition...if only someone will want to move in! :-)

[Raven]

25. Again, thank you all!

It never fails that I get great advice here. And the advice is always good, common sense, practical. Thanks everybody. I think I have a handle on this now. :hi:

[Beaker]

26. if they're bitching about minor stuff-

just tell them that it's part of it's "charm"...then tell them the story about the master weavers who always leave a flaw in when they make a rug, otherwise it would perfect, and an insult to god.

[Raven]

28. I love that! I'm gonna use it!

It's better that burying a statue of St. Joseph upsidedown in the back yar. Have you heard about that one?

[wysimdnwyg]

30. Well, I'm repeating a bunch of people here, but...

since I just can't keep my mouth shut...

Wait for them to make you an offer. If said offer is contingent upon you fixing anything, I would recommend you either reject it or counter with no repairs. "As is" means just that. If the prospective buyers don't like it, they are liable to find a hell of a lot more wrong that just the sash cords.

Also, beware of committing to any repairs. These costs have a way of multiplying very quickly.

[izzie]

31. Less than 2 years ago I sold my home.

I said take it as it is and he found fault and we did go back and forth, I came down $2000 for the problems as I knew more problems and I did not wish him and inspector to get into them.I also figured that all in when I started the selling thing. I doubled my price from what I bought it at, in 6 years, so was very pleased.

[izzie]

32. Less than 2 years ago I sold my home.

I said take it as it is and he found fault and we did go back and forth, I came down $2000 for the problems as I knew more problems and I did not wish him and inspector to get into them.I also figured that all in when I started the selling thing. I doubled my price from what I bought it at, in 6 years, so was very pleased.

[trof]

33. You're gonna laugh your ass off at this, but...

Miz t. ( the Somewhat Witchy-Woman and Cajun Queen of Orange, Texas) has helped about 60 or so (at last count) friends and friends-of-friends sell their houses.

She buries a small image of St. Joseph, upside down, somewhere in the back yard where prospective buyers must (or can be led to) step over it.

BWAAHAAHAAHAAHAAHAAHAAHAAHAAHAAHAAHAA

I know, I know. I don't believe in that kind of stuff either.
But it seems to work for her. She's built quite a reputation, locally.

Here's the drill:
Get a St. Joe figurine from a Christmas creche or religious shop. Gather a few (gullible? spiritual?) friends and/or family. Bury him about 6-8", then all hold hands and "ask" for St. Joseph to find the person who needs this home. Then repeat the Lord's prayer.

The Theory Behind The Ceremony: See, Mary and Joseph could find no room at the inn, but he was able to secure accommodations in the stable, so he's a "home finder" for people.

As I said, I don't "believe" in this crap, but she DOES have some kind of "gift". She can also "predict" when women (who are trying to) will get pregnant.

There, I have destroyed any modicum of credibility I may have had at DU for all time.
whatever
:shrug:

[Raven]

34. You are totally credible!

My brokers (who are a jewish couple, by the way) buried St. Jo in my backyard a few months ago. They said that their brokerage firm has a whole carton of these statues. So far, St. Jo hasn't helped much!

[trof]

35. Here comes Flame-a-rama

It's OBVIOUSLY a religion thing.
St. Joseph is a CATHOLIC saint, not a jewish one.
Jeez, they killed his (adopted?) kid.
Miz t. was a good little Catholic (since lapsed) girl.
I think the situation calls for a do-over.
With some good Catholics this time.
;-)

The jewish couple did it for purely mercenary reasons. Miz t. can accept NO remuneration for her services or it doesn't work. She HAS accepted a few steak dinners, which don't seem to rise to the level of greed that would interfere with the overall process.

[Raven]

37. I knew it! A curse has been put on my house!

Um, is a catholic curse or a jewish curse???...protestant??? maybe baptist? I know, it's them damn arabs! :-)

[trof]

38. That's "Ay-rabs".

[Tesha]

42. Yes, but you need to give the Joementum time to build up! (NT)

[trof]

44. LBN:

Miz t. sez it won't work if the broker/salesman does it. Has to be a third party who doesn't stand to gain.
I don't make these rules, I just relay them.
;-)

[areschild]

40. Just sold my house.

Some people would come in and want us to put in ceramic tile floor and offer much less than we were asking. Other people wanted brand new carpet, etc. My house was being sold "as is"; we just declined offers we weren't interested in.

We had our house listed with a realtor for six months; nothing. When our contract ran out, we put a sign out "For Sale by Owner". A man and woman driving thru the area stopped by to see the house and the lady loved it. She signed an earnest money contract immediately and paid cash at closing. Hang in there.

If minor things can be fixed, do it. We came down quite a bit on our house because we knew it needed some work. If we had wanted, we could have held out for more, but we were anxious to move.

In fact, I am now in my "new" house and I'm exhausted from moving, packing and unpacking. Just got hooked up to the internet today.

BUT....I've had to go from broadband to dialup. ARGHHHHH!

[ewagner]

43. The ball is in their court

Tell the broker to have them submit an offer....you can then counter-offer....and so on and so on........