Update Your Home Before You Sell? Or Sell It As-Is?
Vložit
- čas přidán 21. 02. 2024
- Do you need to update your home before you sell it? Or maybe you should sell it as-is?
My seller's husband had gotten sick and she knew she was going to have to sell her home fast but it wasn't updated. It was a very dated home and she didn't know if she should remodel the kitchen or paint the cabinets and replace the countertops. She also had hardwood and asked me if she should refinish her hardwood floors before she listed her home. I gave her a lot of real estate tips and advice.
Download our FREE Seller Playbook here! bit.ly/TLHSellerChecklist39 This will show you what you need to update and what colors you should paint your home
You do not need to update your home in order to move and maximize your price!
This homeowner approached me during a challenging time; her husband had fallen ill, and their current home no longer suited their needs. Despite her initial belief that extensive and costly renovations were required to make her home marketable, I assured her that wasn't the case. Given the home's well-maintained condition, despite its dated appearance, we focused on minor cosmetic updates rather than a complete overhaul.
Initially, the homeowner considered major renovations for the kitchen and bathrooms, areas often thought to significantly impact selling prices. However, I advised against it, explaining that many buyers prefer to personalize these spaces themselves. This approach not only saved her money but also simplified the selling process.
We embarked on finding her a new, more suitable home, keeping in mind her current and future requirements. When it was time to sell, we employed a strategic pricing approach, listing slightly below market value to spark interest. This strategy was incredibly effective, resulting in six competitive offers and a final sale significantly above the asking price.
This success story underscores the power of strategic planning and market insight in real estate transactions. It demonstrates that selling a home efficiently and profitably doesn't always require large investments in renovations. Instead, a well-thought-out plan, informed by extensive market knowledge and tailored to the homeowner's unique circumstances, can lead to outstanding outcomes.
In my commitment to serving the Northshore Chicago real estate market, I continue to offer guidance, expertise, and support to homeowners looking to navigate the complexities of selling their properties. This story is a testament to the philosophy that I live by in my profession: selling a home is not merely a transaction but a strategic move that, when executed correctly, can significantly enhance one's financial well-being and ease the transition into a new phase of life.
For anyone considering selling their home in the Chicago North Shore area, remember, it's not just about the sale-it's about making informed decisions that pave the way for your next chapter. Whether you're in Northbrook, Glenview, Wilmette, or any of the other beautiful suburbs in our area, I'm here to help you achieve the best possible outcome in selling your home.
In Illinois or Florida? Kati can list your home! Get in touch with Kati directly by calling or texting 847-318-3431 today!
If you are looking for an agent anywhere in the country, fill out this form and Kati will connect with you right away and match you with a great agent! bit.ly/Find-An-Agent39
Looking for more videos of Kati's?
Turning a 'Fixer-Upper' into a 'Market-Winner' (No Updates Needed!)
🔨🏚️➡️🏡✨ ➡️ • Home Selling Tips if Y...
Avoid These Costly Updates When Selling Your Home: What Really Pays Off
🛑💰🏠💡 ➡️ • Avoid These Costly Upd...
Every Seller's WORST Nightmare - Sued for $10,000 Without Even Closing
🚨😱💸 ➡️ • This Story is So Crazy...
❓ SUBMIT YOUR QUESTIONS❓ to Kati to answer in a Live Stream or video!
bit.ly/QuestionsForKati
Hey, Kati Spaniak here, I'm a top Chicago North Shore Real Estate Agent. Thanks for watching my channel your ultimate guide to selling and buying homes in the Chicagoland area. Specializing in the vibrant communities of Northbrook, Glenview, Northfield, Wilmette, Kenilworth, Winnetka, Glencoe, Highland Park, Lake Forest and Deerfield. I offer expert advice and insider tips to navigate the North Shore Chicago real estate market with ease.
Whether you're looking to sell your property for the best price or buy your dream home, my channel provides comprehensive support, market insights, and personalized services to meet all your real estate needs. Stay tuned for our latest success stories and invaluable advice from one of the top Realtors on the North Shore of Chicago, ensuring you make informed decisions in this dynamic market.
Subscribe for the latest updates and reach out for a personalized consultation to start your journey in the North Shore Chicago real estate market today!
⬇️⬇️⬇️⬇️⬇️⬇️⬇️
Contact Kati:
bit.ly/ContactKati
*Thinking about selling your home in the next 5 years. Join my Ready! Set! Sell! Masterclass and find out all the ways to prepare your home to maximize your profit!* bit.ly/TLH-PIN
The issue is that either the renter or the owner must in some way pay insurance and property taxes if they want a "permanent roof" with utilities like electricity, gas and water. Because of this, many people-at least in California, where I currently reside-are living in tents. No taxes, rent, mortgages, or insurance. The number of people who tell me they live in their car that I meet amazes me. Its crazy out here!
It’s getting wild by the day. The prices of homes are quite ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%). Sometimes i wonder if to just invest my spare cash into the stock market and wait for a housing crash or just go ahead to buy a home anyways.
I get such worries too. I'm 50 and retiring early. Already worried of the future and where its headed, especially in terms of financies and how to get by. I'm also considering making my first investment in the stock market, but how can I do so given that the market has been in a mess for the majority of the year?
In my opinion, it was much easier investing back in the 60s but it’s a lot trickier now, those making consistent profit in these times are professionals reason I’ve been using an advisor for the past 5 years to consistently build my portfolio in preparations for retirement.
I won't pretend to know everything, though. Her name is Amber Angelyn O'malley but I won't say anything more. Most likely, you can find her basic information online; you are welcome to do further study.
That's crazy!
Suggestion to those with wood floors: i know someone who has the typical shiney honey oak shade wood floors through out her house. It was a very popular 50's, 60s & 70's shade for wood floors. When the floors were redone, the honey oak color was stripped & left them with the natural color with a clear satin finish. OMG, what a difference!! The floors are gorgeous! The floors are brighter & lighter, and it looks like the floors are brand new!! Plus, the floors make the house look brighter, clean & fresh & updated. I am amazed what a difference the natural clear staining made! It instantly got rid of that 1960's dreary feeling! Just a suggestion for anyone who might be looking to refinish their hardwood floors.
I like all colors of hardwood but a great investment is definitely keeping the real woof and refinish, recondition as needed.
I must say, kudos to the husband for taking care of his wife and his house that the wife was able to sell the house without a lot of changes and money involved. Too bad he now has dementia and needs to be taken care of instead.
She would say the same thing... He did a great job
Years ago, I sold my old farmhouse without updating. The interior hadn't had any improvements in 30 years, but the curb appeal was awesome! The exterior had been freshly painted, it was a sunny June day when it went on the market, the lawns were mowed and trimmed, the gardens were in bloom, and it looked gorgeous. Inside, there were period features that hadn't been developed, but it looked comfortable and cozy. Fifteen people looked at it on the first day it was shown, and four made offers over the asking price on the spot. Although the place had some serious issues, charm won out!
Congratulations! Thanks for watching!
My real estate agent had a similar strategy- my house was solid and well maintained but not ‘updated’ - the house was cleaned like crazy and lots of excess furniture removed and the hardwood floors polished (not re-finished) and a couple of rooms re-painted and some paint re-touched. I was Super happy with fast sale and good price.
In my location, no one would make an offer cuz the hardwood floors were polished yellow oak, fence was split rail, wide planks in family room and narrow planks in LR/DR.
Good job listening to your agent!
I would say that they probably wouldn't make an offer because the price was too high. It's always the price... :) I have lots of videos on this one! Thanks for your comment!
@@KatiSpaniak yes and sometimes the reduction in price is more than the cost of repairs paint and cleaning …. Because with a messy or unrepaired house people worry what else might be wrong
@@KatiSpaniak yes I did pretty much exactly as she suggested. She also knew when in the year was best locally and pushed me hard to be ready for the early Spring market. The
I think at bare minimum: Make necessary repairs, new paint, (new) inexpensive flooring(if needed), clean up yard, and have it professionally cleaned. Especially post covid, having your home professionally cleaned is a great selling point.
For sure!! Thanks for your comment!
I agree my ideas are great but I don't have the funding for it but if you sign up for habitat for humanity there's a entrance through the back door of home ownership. Put yourself on several section 8 waiting lists so you will be assigned a case manager to work with you when you go shopping for homes.
Eventually they will pull your name for a housing voucher and they pay for all the expenses for you to move in. You may have to decorate it yourself if it's unfurnished but furnished apartments are more worth the money if your just now getting on your feet you want to make sure your getting your money's worth. After like 2-3 years they will be done building you a one or two bedroom house and I've heard you either rent to own it or it becomes your property and you have to pay low taxes on it.
My husband and I have recently retired (early-I'll be 60 and he'll be 63 this year). We know at some point we want to downsize to a smaller (preferably one story) home. Having lived here since 1999, we have 25 years of stuff. OMG. So I'm starting to figure out what to get rid of and how to do it. We have rooms that are set up in ways that we no longer use them. I love your advice as far as LONG term planning....so smart. I'm so happy I found you as I will watch more of your videos and check out your free downloads. Thank you again!
We bought our home in 2003. It had never been updated since it was built in 1979. I’m talking bathrooms in avocado green and harvest gold, brown shag carpet, floral and grass cloth wallpaper. Under insulated, energy inefficient doors, old furnace. We started renovating immediately with energy efficiency - new furnace, blown in insulation, new doors. After that, we did the garage door that was rotting and a new roof. We were also doing some minimal interior like painting and ripping out the nasty carpets and putting in laminate. We eventually gutted the 3 bathrooms from the 1970s crap between 2013 and 2015. That was the last major work we did. When we listed in 2020 in the middle of Covid, we did some painting (first time since 2004) and deep cleaning. We did the renovations early enough to be able to enjoy them and not stress ourselves out at the end.
Oh! I can only imagine how much work you did!!
I'm not selling any time soon, but I wouldn't do major renovations just to appeal to a theoretical buyer. You don't get your money back from that, and if you're only doing it to sell, you don't get any personal enjoyment from it either. Spending $80K+ on a kitchen reno and new bathrooms isn't going to add $80K to my sales price. (Now if you want to do major renovations for your own satisfaction and happen to be selling in the next few years, that makes more sense.)
Not always but only maybe a few people understand how to add value. 99% will not add value but obviously some people are making cash hence flippers
This is EXACTLY what I'm saying! Thanks for your comment!
Truth
I might sell in 10 years, I have been remodeling the house room by room each year the last 5 years, one last thing to remodel this year… I’ll enjoy the remodel for 10 years.
Know your market. If its super hot, don't worry about staging too much
I just recently updated my home. The whole thing. And I'm never doing it again. I am 54 years old right now and I hope to live in this house til the day I die. I know that that may not happen but that's my plan so far. And when it is time to sell this house, I'm not doing any updates at all. Not one single one. Basically because I live in the lower middle class neighborhood in a small house. Anybody that buys this house is going to remodel it and update it anyway.
Thanks for sharing! I know it's a lot of work!!!
All depends where you live too. Location is truly everything for most people today. In our town real estate prices have been going down consistently. Price drops of $10,000 to $25,000 not uncommon. One person's taste and pocketbook may not match another buyer's desire to have everything done in the house so they don't have to do anything but pull up a chair and watch tv. Thos HGTV shows have brainwashed people into thinking that every house should be spanking new or totally refurbished before they even look at the property. Potential buyers are a picky lot and want nothing but the best in most cases.
Thanks for your comment! Wait until you see my video this week!! It's EXACTLY what you are talking about here. How HGTV has ruined the Real Estate Market!! Make sure you subscribe so you don't miss it!!
Ohhhhh yes for sure. We just bought in a small rural town. Everyone does diy because there are no contractors for miles and miles. In process of undoing some pretty bad amature work. I'm too dang old for this lol.
Not intending to sell but you never know what life can bring, thank you so much for your videos and knowledge 😊
You are very welcome! Thx for your comment!!
Chief economist, Peter Schiff, is advising mortgage holders *not* to sell right now because they'll lose that low 2%-4% interest rate. Those pre-inflation rates no longer exist. Anyone that panics because they have a loan higher than the value of their home and sells, they will be paying more monthly due to a newer, higher interest rate between 7%-10%. We all have to pay something to live somewhere and selling now will increase your monthly payment. He actually said those 2%-4% mortgages are now an asset.
I agree. No need for remodeling if you are selling immediately. Here in my area they sell quick with or without remodeling. Just cleaning, painting and a few cheap fixes and done.
That's great to hear! Sometimes a little sprucing up is all you need before selling.
Thank you! I wish all realtors were like you!
Awww. Thank you!!!
Necessary repairs, yes. My parent's neighbor totally redid their kitchen prior to selling only for the new buyers to completely gut it for what they wanted.
Thanks for sharing your parent's neighbor's renovation story! It's interesting to see how preferences can vary so much.
I live in Illinois. A few years ago I put in almost $30k in updates. I had many people come in for open houses, and only got 1 offer, which I took and that was $5k less than what I paid to have it built 15 years before. Now that I look back, I see many things I could have done better.
It's all part of the learning process. Hang in there!
If you have a house that needs updated, the new owners are going to update it anyway. So you might as well let them do everything they want. No use and you spending the money to update it when they're just gonna tear it out and do it again anyway.
Yep! That is probably true!
Yes! It is disheartening while looking for a house to see that the sellers all seem to update before trying to sell and wanting to pass the expense to the buyer who may strongly dislike their choices.
@@jeme7339 I updated my house over the last three years. It's basically 99% done. And I am not doing it again. I hope to live in this house til the day I die. Who knows if that's will happen, but either way, I'm not changing a darn thing when I sell this house. absolutely nothing. I'm not putting any paint on the walls, nothing. It's a very small house and a mediocre neighborhood. Somebody's going to come in and change it all up anyway so they're free to go at it. I'm not gonna lose much money trying to sell it as is whenever that day comes.
Awesome advice! I am in a similar position as the seller in this video and have had many of the same qualms about contacting a realtor because of all the uncertainty & anxiety. I wish you had a clone in my area.
Awww. Thanks! More than happy to help you find an agent!! Just fill out this form forms.gle/mwmnBgVHumeAmVKm9
Thank you for this informative video presentation. My husband and I are close to this situation and really don't want to do upgrades, although we'll probably discuss painting. I'm downloading your seller playbook and watching other videos
This is classic advice. In 2004 our realtor advised us to just replace our worn roof and dented gutters (not leaking or anything, just looked old and at the end of their useful life) and update our landscaping in a few basic ways. We spent under 8k on all of it and profited over 40k on a house sold in 4 days for over asking. We didn't update the 80s kitchen or the forest green carpet on the stairs, lol. We already had had to update our furnace a year prior and the house had nice paint, charming hardwoods and simple but attractive bathrooms just from fixing it to live in it ourselves. Our buyers loved the neighborhood, the charm of the older home and not having to replace a roof or the furnace. I'm sure they updated that old kitchen, lol, and ripped out the ugly carpet on the stairs! Realtors that can focus on what matters to the most likely buyers for your house are a wonderful resource.
Thanks for sharing your story!
Do you find that having an extremely small master bathroom makes a lot of buyers reject a home? I want to expand our master bathroom but literally the only way to get more space in there is to lose a bedroom. We have 4 bedrooms and an office. We don’t plan on selling for 10 years. An addition would ruin our home because we have an all brick ranch. We also have an in ground pool in the yard that would be in the way. I personally don’t mind a small bathroom but I’m concerned we would have trouble selling leaving it as is.
Nah, in my area houses have tiny master bathrooms and they still sell like hotcakes.
As a Real Estate Broker (actual BROKER'S License) and in the business since a very long time, I am soooo sick of these "stratetig" advises ... and only deal with my former clients .... A reasonable agent like this one is so rare !
She seriously LOVES me. It was such a nice experience to have someone who really worked with us! Thanks for your comment!
In your sellers doc, you did not mention garage door openers. I found that most of neighbors had garage door openers and my house never had one. My sellers presales list included adding a new garage door opener. Unclear whether buyers will see it as a bargaining factor, but they will notice it's missing.
Hey, I personally think that’s a decent strategy, I have sold several homes this way, as have a couple of my friends, and we have sold homes that we have moved from ,that were I guess by definition ,dated, however, they were extremely clean and well kept, and I priced it lower accordingly to sell, every one of them sold in a very short period of time, because firstly, people could get into areas and neighborhoods for less money and were able to move in and we’re just quite fine with dated things inside the home that were in good condition, and secondly, some people bought quickly because they liked the lower asking price which enabled them to update the house exactly how they wanted to rather than paying a higher price for somebody’s renovations, that they didn’t particularly care for , but paid for in the sale. I think it’s a very smart strategy to sell a home, price it accordingly, though, and you’ll be surprised in many ,many areas how many bids you will get.
Thanks for your comment! That is exactly right!!!
Exactly. It is frustrating to look for a house when sellers try to guess what a buyer wants based on what is trendy and then make changes before selling and adding updates to the price. I wanted a house in which I could choose flooring and cabinets and ... Please make sure the house is clean and in good working order. Yes, a dry basement, good insulation, a good roof and good windows are wanted and important but leave the design choices for the buyer.
TYSM!!! I met with a realtor who gave me a list of things to upgrade and said she would need a $4000 budget for staging. Not the direction I wanted to go in. 🤫
I'm sure!! Good choice!
Updating a home before sale is like a can of worms. You fix one thing and you see two more things that need updating. It never ends and you spend a fortune before you sell and don't get your investment back.
That's true! Why you need an agent early to tell you what to do!
Great info.
Glad it was helpful!
Great info! My husband and I are about to put our home on the market, and I have been stressing out about refinishing the hardwood floors and the trim on our main floor. It is a 100 year old Bungalow, with "good bones". I am also nervous about selecting the right real estate agent.
Don’t stress! And don’t refinish!! Reach out if you need help! I can also get you a good agent or help you!! Kati@terraluxhomes.com
This is really timely information for me and exactly what I needed. Thanks!
Glad it was helpful! Thank you for your comment!!! Hope you are a subscriber!!
Exceedingly helpful! Thank you.
Glad it was helpful!
You are so easy-going... x
Great video, as always!
Thanks Janice!!!
Excellent video!
Thank you SOO MUCH!! Hope you are a subscriber!
Very helpful and realistic tips. Thank you!
Thanks for the feedback! Happy to help with any other questions you might have.
Very helpful information! Thank you!
Glad it was helpful!
Excellent real estate agent.
Awww... thank you so much!!
Thank you, Kati. Stressed about selling my first home. Very informative.
Happy to help! Let me know if you have any more questions.
Hi. We're thinking of selling our home in upstate NY in about 3 years. I've been following many realtors pre-planning this move and, by far, your channel is the best. I'm grateful to have found and follow you. BTW, I started even listening to you in my car while traveling the 35 minutes to work. That's when i noticed the distracting "whoops" when videos are added or removed that i didn't notice when i watched you. Just a small suggestion in an otherwise outstanding channel. When we're ready to get the process started, ww will definitely ask for a local recommendation. Looking forward.
Love this video concise and to the point. Even your voice is nice to listen to and this is very informative. Too many you tubers ramble on and it is very off putting.
Haha!! Thx! My editing team is pretty good! They keep me in check. Sometimes I do go on and on though…
You do so much more than the average estate agent here in the UK. 😍
Awww. Thanks!
The substancial shortage of houses in UK means they don't need to make much effort to sell..
@@abm672 You should always make an effort when selling. As Kati says (in another video), "you don't want to leave money on the table".
You just got yourself a subscriber
Awwww. Thank you!!
Me too
Would you recommend a major re-do of landscaping before putting a house on the market? We have a 20 yesr okd home but there are new homes on each side of us and 2 more being built on our block. 😅
Hi! I don’t recommend it unless you talk to a local agent. Or email me some pictures at info@terraluxhomes.com
You can also sign up for my class at readysetsellmasterclass.com
Hi! Can you make free Seller's Playbook available for Poland, too?
You mean written in Polish?
Focus on major systems, safety and repair issues, then price accordingly. Wanted to purchase my Aunts hundred year old home but had to pass because she thought her home was fine as is and wanted too much. Wouldn't use an agent. Grrrrrr. She finally had to use an agent and settle for less. Too bad. Major issues were foundation, sloping floors and kitchen needed gutted. Oh and new windows, originals were still good but old. Was a rough patch trying to let her down gently.
Remodel and enjoy the house for 10 years and then sell it.
Yep. That's my recommendation!
Would you recommend painting cupboards on kitchen that are peeling 20+ years old but solid maple quality kitchen when first put in or just leave it be?
It really depends on the whole house. If it needs to be totally updated… then probably not. It probably won’t get a return. But definitely ask your agent
Oh my goodness this is so helpful for me right now. In a similar situation. Thank you for addressing these things.
You are very welcome!!!
Would you recommend sellers do an appraisal and a home inspection before selling?
Probably not. Usually the agent will be able to give you a number that will be close to the appraiser.
Have spoke to several realtors but keep getting the attitude “ just get it on the market then you can always come down.” I think that’s all wrong. What are your thoughts? Florida 55 plus community with more competitors than I like but could use some thoughts. Thanks!
It has to be priced right out of the gate. You have to be priced right UNDER the market. Otherwise you’ll sit on the market.
That is great for the "Time" it occurred....Unfortunately, in todays market {2024} and 'climate' this won't work.....Prices are in a rapid decline here in Ca. ..I want to sell my house but have decided to wait until after Elections and then revisit that idea
I’m not sure where you live in CA, but where I live , Carlsbad, CA, a coastal town close to San Diego, the prices are going through the roof. Homes selling for well over the asking price
That's because CA if AWFUL, and most people are fleeing!! Most other states are still experiencing a hot market!!
Betty smith. Why is it awful? I love where I live, perfect climate, wonderful community, great schools. I will never leave Southern California
TAXES TAXES and MORE TAXES plus an endless amount of liberals that support criminals!! NO THANKS!! @@kathrynp7595
For sure!!
Okay so you posted this less than two weeks ago, but what was the actual date this scenario occurred?? That answer will bring credence to this presentation.
Well. It really happened this past summer. I think we closed in July.
Should I find the home I want first in another state with a contingency, before placing mine on the market. I'm afraid mine will sell before I find another affordable home.
I think in this market it would be really hard to get an offer accepted with that kind of contingency, but you could try! You may have to sell your house and then move into a month to month rental in your new state!
That's part of our problem now. We want to move to TX to be near our daughter (especially since we're pushing 70) We live in OK, so we're so concerned on how to make it work. Our current home is paid off. IDK if that makes a difference in any of this. So stressful! Right now, while we're trying to figure it out, I'm just taking one room at a time, and thoroughly decluttering/dejunking, and putting a fresh coat of paint on it - then moving to the next room, and so on. 😬
You got this!! Could you sell your house and live with your daughter until you find something to buy? @842 I went through the decluttering process with my mom after my step father passed, it was really tough on her, as she had to downsize from a house to a condo. She is doing well now, and you will get through this as well!!
@diana6842 you could always ask to rent your home back for 1-2 months in your contract . Another option is to go into a short term rental and get to know the area before you buy .
For sure!
When I sell a house it has already been remodeled, updated and thoroughly inspected by a licensed contractor. I am not interested in how high my offers will be. I am most interested in the Best offer which means qualified buyer, with minimal contingencies and able to Quickly close the transaction. Time = Money and I don't like the games of Buyers agents. I prefer Dual agency on both sell and buy sides where permitted and always price my asking price in the lowest 50% of comps to encourage fast offers. I also prefer pocket listings to deter theft and "Looky Loos" who are not qualified and are not serious. The maximum time between Listing date and close should be less than 30 days. I found that profit for me in Real estate is maximum on the Buy side and not the sell side. In this way, Every day of the year is the best day to buy for a qualified buyer. I do not like GSE's, FHA's or other gimmicky financials. Cash or fast conventional loans ( < 15 years) are best for me. Agree or disagree? Many of my buyers are RE agents or brokers.
YOU are a smart seller. The only thing I would say is that in this market right now where things are flying off the shelves, you don't want to only market privately as a pocket listing. You won't get as much activity and you might get other offers. But you are looking at all of this the RIGHT way!! Thanks for your comment!!
You are one of the real estate brokers who understand and agree with this strategy. Guess what is the most disgusting thing about selling? Listening to the bleating, lying and the coulda, shoulda, woulda, ifs and buts of potential buyers and buyers agents. If you want to throw a lowball, fine but throw it with some power so I can respect you! I own my properties and know their value (property, location, structure, quality and market). A knowledgeable qualified buyer will quickly realize that if the offer my minimum asking they will walk away with instant equity. Fortunately for me many of my sales resembled a private auction. Tigers with cash are out the waiting and watching for a "Gimme" like my properties. I think you understand that ALL players Buyer Seller and Broker are winners in these transactions. Why do I sell? My accountant determines that one. I live in the house that is for sale for at least 13 months before I list it thanks to LTCG rules. Every 14 or so months I like to live in a different house that I own. Excellent for income taxes and lack of stress. Why work in a real job when your life is a vacation? I am not greedy just practical. Recall as long as my active income is under 40k per year the prior sales year, there is ZERO capital gains taxes. Not bad. Wash Rinse and repeat. @@KatiSpaniak
Does the lower assessed value effect the buyer's mortgage - if they wanted to finance the whole thing and it appraises for $625K, would they have to come up with the difference?
Yes and no. When I bought my last two homes we put in a contingency that if the home didn't appraise for the amount offered, the seller would have to lower that amount or the contract would be void, and I would get my earnest money back. In most purchase and sales contracts the agent will write some sort of contingency whether it be what I just stated, or if the buyer(s) are willing to pay over a certain appraised amount.
Yes. If they go to refinance. That would be the issue if the market has gone down. They will get a new appraisal at that time.
I have a question about selling my Mother’s home, she lives in Canada. My brother wants to move into it when she passes away and give me my half of the money. To be fair , do we get an appraisal on it or get a real estate agent to price it. She lives in a very hot market
Appraiser.
I would actually ask for both. The reason why is that an appraiser doesn't always understand what the market is doing. Here is a video I did on this. czcams.com/video/Pv3BoDF1j7E/video.htmlsi=UOqHZ6XYJ8x-b3zs
Thank you, great advice! Where do I find the paint colors?
You should download the playbook for everything that I'm providing, but here you go! bit.ly/TLSellerChecklist39
Hot Colors for Paint
Benjamin Moore Stonington Gray HC-170
Benjamin Moore Gray Owl OC-52
Benjamin Moore Balboa Mist 1549
Benjamin Moore Edgecomb Gray HC-173
Trim: Benjamin Moore White Dove OC-17
I love your videos! Especially like your advice to start way before you sell doing things to sell it for the best price.
Thank you so much!@@kathleengravedoni5995
@@KatiSpaniak I'm so sick of grey, it's cold and boring. I'm in the Midwest
We used White Dove for the walls when selling my dad's home and it was perfect. Gray paint would not have worked in his vintage home with the medium woodwork. Light and bright did the trick.
I think I am going to ask a realtor to come out and give me advice.
YES!! For sure. If you need an agent let me know! docs.google.com/forms/d/e/1FAIpQLSddIYKancB1ktmFX3OoRHiS1GVSJRG27anUDqL8Kztias8-2Q/viewform
How do you feel about sellers listing their home and going into a rental until they find the house they really want?
Great idea!!!
BUT at almost a half million fir sone houses which many people think is a normal average price (no its not, its over pricing) you can believe the bathrooms need to be somewhat updated and the kitchens ahould look decent. After spending that high dollar to oubid someone and paying that high price who the hale wants to spend another 20 grand doing all that work in the kitchen and bathrooms?
Learn how to spell
In a hot real estate market there is almost always going to be someone who will still buy an outdated home for a higher price then you, just keep that in mind!
@@bettysmith4527 true its just kind of sad to me so many people are priced out of this market. And then to have to come up with more money to renovate just sux in my opinion
@@corilia9529you can renovate after time. You'll have equity , not everything needs to be done immediately.
You crack me up!
Location, location, location.
Truth!
People need to remember life throws you curve balls. You never know what is going to happen. If you plan on living in your house a long time, start those updates & enjoy them. My sister redid her small kitchen. 2 full batrooms & wood floors. The house looks brand new inside. She could sell it tomorrow yet she isn't planning on moving.
Is it because we are all so ADD that these videos are so jerky with the camera? There are so many zooming in and out and little jumps that I kinda get vertigo and usually stop watching before the end. It isn’t just your videos. I think most videos are like that now. It’s so frustrating.
Hey, thanks for the heads up about the camera movements. I'll try to make it less jumpy in the next videos.
I did nothing to my home and it sold for $427 thousand over asking - Bought it for $420 thousand in 2005 - Paid it down to $108 thousand and sold it in 2017 for $1.426 Million
Pure greed
Ok?
A fool and their money 💰 soon part. Enjoy this madness while you can, the reckoning 😢is coming Miss Realtor.
Whattt???
Ahhh... a fan!! Thanks!! :)
Real estate agents get a lot of hate. The industry is changing rapidly and there are many bad agents out there. So he is saying that I should be happy with the money I've made because I won't make it in the future. :) I think I have enough experience to figure something out. :)
Not "me and my team... " but, My team and I.... That one thing makes you sound ignorant. I wouldn't follow you because of it. It's like fingernails on a blackboard.
Thanks for being the grammar police 👮 and thanks for checking in! I’m sure my viewers really care!! 😂 😂 😆
@@KatiSpaniakNo we don’t need the grammar police as it is rude to do this to a hard working content creator giving you great info for free. 😮