May 27 • Q & A: Ask me anything
What Would You Do Question
Hi everyone. This is a question I was going to ask in the lab call last night. What would you do in the following scenario:
I had a listing appt and suggested that she make some refreshes to the vacant house before putting it on market: paint, clean carpets and clean the interior, remove the blinds, replace damaged pieces of siding, clean out gutters and replace a fallen gutter. I had told her with the improvements, she could show better than the comps that are nearby and dated. She could possibly get $318k.
She had a "guy". He told her that she didn't have to have gutters here in GA. Basically, he told her to sell it as-is. I believe she just didn't want to pay the money to get the work done. When we talked yesterday, she said she'd rather use the money to pay closing costs because she will have to pay.
She is aware that she will not make any money and will have to come to the table with money. She bought the home in 2023 for $314.5k and she currently owes $302k. She said last month was the first time she deferred a payment. When you factor in compensation (3% list and potential 2% to buyer's agent) and attorney costs, she'll be in the negative. So she just needs to get out from under this house.
Do I take this potential headache? I've already told her it's likely to sit if listed at $318k which is what she still wants to try.
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What Would You Do Question
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