Given the expense that comes with moving to a new home, it’s not surprising that you’re reluctant to pour money into the house you’re leaving behind. After all, you’ve learned to live with the the little things that hasn’t worked in a decade. The DiMora Team are real estate experts in the Novi and Northville neighborhoods and we know that they probably won’t. In fact, those minor (and sometimes major) repair issues you’ve tolerated can deter buyers from making an offer or even result in a low appraisal which can kill the deal. The last thing you want is for repair issues to land your home back on the market. If we’re back on the market because we have these repair issues, every other buyer that comes in to buy our property will want these issues addressed. Deals falling through due to repair and appraisal issues happens more often than you might think. In many states, you’re actual required by law to notify potential buyers of repair issues, and they’ll likely ask that you make the repairs before the sale goes through. The same holds true even for those repairs you don’t know you need. Once you’ve accepted an offer, your buyer is going hire a home inspector who will find any number of repair or maintenance issues. The buyer will then ask that you either make those repairs or take a lower offer. Check out below to see what sold in Lakewoode Parkhomes in June 2021:
22832 Talford Street, Novi: 2 bedrooms, 1 bathroom, 775 sq. feet, 1 car garage, Sold Price: $132,500
Lakewoode Parkhomes Home Sold
June 2021
22895 Talford Street, Novi: 3 bedrooms, 1 bathroom, 1,100 sq. feet, Sold Price: $190,000
Lakewoode Parkhomes Home Sold
June 2021
It’s important to note that making a lower offer isn’t always an option for your buyer. Buyers with typical FHA Loans, where they’re putting the minimum amount of money down, have less funds available to do the fix-ups. These buyers are looking for move-in ready properties so they can fold repair costs into their mortgage rather than paying out of pocket for the repairs. If you don’t want to lose a whole pool of potential buyers, it’s best to make sure your home’s bones are in tip-top shape. For more information on Lakewoode Parkhomes, or similar Northville or Novi neighborhoods such as Crosswinds West, Country Place and Highland Lakes, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.