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Which House Would You Buy?

The Cost of Doing Nothing

It's a Matter of Being in Control or Letting Fate Decide Your outcome

For a $200,000 Home, Which Offer Would You Rather Get —
$198,000 or $181,000?

The Cost of Doing Nothing is Leaving Money on the Bargaining TableYou can control this outcome more than you think. The cost of doing nothing could be the difference between these two figures — $17,000. Ask anyone and odds are that they will say that $2500 in maintenance and improvements is a good investment to save $17,000 in the the long run.

Time is not on your side.Yes, these are hypothetical numbers, but the figures are realistic and so are the results.

Let's have a little fun with this to make a very serious point.

Worst Case Scenario — The Low-Ball Offer

Example:

  • $200,000 — Your listing price
  • $0 — Maintenance/upgrades. You choose not to fix things up and see how it goes.
  • Outcome — $181,000 low-ball offer after 9 months on the market with no interest.

What went wrong

  What the Buyer is Thinking Price Reduction
Cluttered rooms with excess furniture Honey, these rooms are too small. We'll have to add on. Do we really want to go through that hassle? Maybe this is not the right home for us. Lost Sale
Sticking doors I think this home might have structural problems. Let's have the home inspector look really closely at this. Then we'll have a good bargaining chip. - $1,500
Stains on ceilings There must be a roof leak. Let's ask for a new roof before we close the deal. - $7,500
Cracked caulking in bathtub This bathroom really needs remodeling. It looks so old and dirty. - $5,000
Overgrown plants and weeds in landscaping Look at all the work we'll have to spend maintaining the yard. Even these homeowners can't keep up with it. - $4,000
  And here is what they do... Offer you $181,000

A Different Outcome

Example:

  • $200,000 — Your listing price
  • $2,500 — Maintenance/upgrades. You remove as many barriers to the sale as your budget allows.
  • Outcome — $198,000 accepted after 2 months on the market. You accept a respectable offer of $198,000 after some negotiation. You know you are in a strong position to negotiate because you had SystemToSell identify your specific problem areas and fix up your home and property to be competitive in the market.
  SystemToSell What the Buyer is Thinking Price Reduction
Cluttered rooms with excess furniture Stage interior and/or exterior rooms These rooms look so spacious. I think our piano would fit nicely over there. $0
Sticking doors Property Repairs This is a solidly built home. We won't have to do a thing when we move in $0
Stains on ceilings Remedy cause of leak and paint ceiling. (A non-issue) Look at the view out this window. I could live here. $0
Cracked caulking in bathtub Deep clean bathroom and fix cosmetic issues This bathroom looks so clean. I can't wait to take a relaxing bath with candles. $0
Weeds in landscaping Add mulch and groom yard. I could see us relaxing in this backyard in a new hammock. This is perfect. $0
  And here is what they do... Offer you $198,000

Will This Strategy Work for Me?

Yes. Learn about a better way to sell your home.

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