Hypothetical Q - If you saw a house in need of roof, siding and windows?

Would you deduct it from the asking price?

How much would you deduct?

Re: Hypothetical Q - If you saw a house in need of roof, siding and windows?

it depends on how the house is priced. If it's priced below market for that area, I would think the work that needed to be done was factored into the asking price.

ETA our roof is on the older side, but in no way needs to be done ASAP - however we priced below market and said the house is priced to sell and "as is"

Message edited 7/21/2011 5:40:01 PM.

Re: Hypothetical Q - If you saw a house in need of roof, siding and windows?

Yes. Even if it was priced decent. Its still going to cost you to fix it.

You could ask sellers to go halves with you. Or deduct the cost from the list price.

Re: Hypothetical Q - If you saw a house in need of roof, siding and windows?

I think people would do this if they a) don't know the market that well in your area and b) only if the house is not priced to sell, kwim? If you know it's a house that is priced with the thought in mind that it "needs work" then that's the bigger issue.

You can always list the house as "priced to sell" meaning you are TELLING people you believe this is a competitively and fairly priced house. It all depends on what the buyer knows about the comps.

Message edited 7/21/2011 6:20:50 PM.

Re: Hypothetical Q - If you saw a house in need of roof, siding and windows?

Only if the house is over-priced.

If the sellers listed the house at a price that reflects the amount of work that needs to be done on the house, then no, I would not go in and deduct the amount it would cost to do these repairs...because it's already sort of deducted in the listing price.

However, if the sellers listed the house at the same price that other homes in the same area are selling for but those other homes are in good condition, then yes, my offer would be lower and reflect the fact that the house needs work and that work is going to cost me money.

Re: Hypothetical Q - If you saw a house in need of roof, siding and windows?

We just had new siding, new windows (not replacements), new doors and new gutters put in - it cost approx $22,000 and that was because the contractor is one of DH's closest friends.

Re: Hypothetical Q - If you saw a house in need of roof, siding and windows?

my house needs new siding and windows but just had a new roof put on. they accepted our offer which was below what they were asking ONLY because I presented comps of homes in similar conditions and what they were selling/sold as (this was FSBO) and they agreed. If the house is priced correctly then those factors were considered.