House buying - What is your deal killer?

[Rain Man]

Originally Posted by mikeyis4dcats.

I would offer a carpet allowance if anything. Having just sold our house and sunk a fair amount of money into readying it for sale (new gutters, repaint trim, repaired drywall, tore out carpet in master and refinished hardwood) I would not do so again because of market conditions.

This is the perfectly logical approach. However, as someone said earlier, there are a whole bunch of people who really can't envision change, and even if you give them an allowance they won't be able to see the place with a new carpet. That means that you'll pay the cost and you won't get the benefit of a better, faster sale.

If I may be forward, your Realtor may be diplomatically saying that your carpet is old, worn, or dirty, rather than it being the color. Post a picture on here and we'll give you the straight scoop.

[Donger]

Originally Posted by Rain Man

This is the perfectly logical approach. However, as someone said earlier, there are a whole bunch of people who really can't envision change, and even if you give them an allowance they won't be able to see the place with a new carpet. That means that you'll pay the cost and you won't get the benefit of a better, faster sale.

If I may be forward, your Realtor may be diplomatically saying that your carpet is old, worn, or dirty, rather than it being the color. Post a picture on here and we'll give you the straight scoop.

This is most definitely true. When we moved out to Colorado, we must have looked at 100 homes. My wife's only objection to the house we ended up buying was that the owner was a huge Av's fan and had painted the bottom half of the walls in the master Av's purple (or whatever color it is). She couldn't see past it and wanted to keep looking.

[SenselessChiefsFan]

Originally Posted by Rain Man

This is the perfectly logical approach. However, as someone said earlier, there are a whole bunch of people who really can't envision change, and even if you give them an allowance they won't be able to see the place with a new carpet. That means that you'll pay the cost and you won't get the benefit of a better, faster sale.

If I may be forward, your Realtor may be diplomatically saying that your carpet is old, worn, or dirty, rather than it being the color. Post a picture on here and we'll give you the straight scoop.

Well, two things here. #1) A blue carpet of any shade is not appealing to most homebuyers.

#2) People can envision change. But, a person forms a subconcious opinion of the house as soon as they walk through the door. Especially, when that person is looking to move right into a house, not buy a 'fixer upper'.

Every big compromise they make in their mind makes the offer price go down.

And, there is entrepreneureal profit in ever compromise they make. So, if a repair will cost $600, then they want to get the house for at least $1000.00 less.

And, from the sounds of him renovating so much, it seems less than wise to avoid spending a little more to seal the deal.

[007]

Originally Posted by SensibleChiefsfan

Well, two things here. #1) A blue carpet of any shade is not appealing to most homebuyers.

#2) People can envision change. But, a person forms a subconcious opinion of the house as soon as they walk through the door. Especially, when that person is looking to move right into a house, not buy a 'fixer upper'.

Every big compromise they make in their mind makes the offer price go down.

And, there is entrepreneureal profit in ever compromise they make. So, if a repair will cost $600, then they want to get the house for at least $1000.00 less.

And, from the sounds of him renovating so much, it seems less than wise to avoid spending a little more to seal the deal.

a few thousand more is more than "a little more" We had to stretch our funds to do all that work we had done as it is.

Again, my worry here is that the other house ends up selling before we can get an opportunity to bid on it then we did all this work for nothing. I don't want to turn around and do it all again in 5-10 years just because that is what the real estate market dictates.

[SenselessChiefsFan]

Originally Posted by Guru

a few thousand more is more than "a little more" We had to stretch our funds to do all that work we had done as it is.

Again, my worry here is that the other house ends up selling before we can get an opportunity to bid on it then we did all this work for nothing. I don't want to turn around and do it all again in 5-10 years just because that is what the real estate market dictates.

I absolutely get it. There is nothing wrong with putting it on the market to see if it will sell.

But, blue carpet is a drawback.

It comes down to whether you really want to sell the property. If you do, then change the carpet.

If you are just seeing if you 'can' sell it to buy this other house, you probably won't be able to sell it.

And, the less your agent senses your committment, the less work they will put into it. Being an agent is a comissioned based business. No since working hard for someone who isn't committed to selling their house.

If you are looking to move, now is a great time. Even if you miss the house you are aiming for now, this is one of the best times in recent years to move up in a house.

Oh, and, you may want to think about leasing the property out, depending on your debt to income ratio and if you have other money to put down.

[SenselessChiefsFan]

Originally Posted by Guru

a few thousand more is more than "a little more" We had to stretch our funds to do all that work we had done as it is.

Again, my worry here is that the other house ends up selling before we can get an opportunity to bid on it then we did all this work for nothing. I don't want to turn around and do it all again in 5-10 years just because that is what the real estate market dictates.

How many square feet are you looking to carpet? Call around, and get several estimates. Go into new construction areas and try to catch some of the carpet layers that are there and see if they do side jobs.

You should be able to get it for less than $2.00 per square foot. I usually get it installed around 1.50 per square foot with new pad and everything... and I don't go with the cheapest carpet.

[007]

Originally Posted by SensibleChiefsfan

I absolutely get it. There is nothing wrong with putting it on the market to see if it will sell.

But, blue carpet is a drawback.

It comes down to whether you really want to sell the property. If you do, then change the carpet.

If you are just seeing if you 'can' sell it to buy this other house, you probably won't be able to sell it.

And, the less your agent senses your committment, the less work they will put into it. Being an agent is a comissioned based business. No since working hard for someone who isn't committed to selling their house.

If you are looking to move, now is a great time. Even if you miss the house you are aiming for now, this is one of the best times in recent years to move up in a house.

Oh, and, you may want to think about leasing the property out, depending on your debt to income ratio and if you have other money to put down.

It is either this house or no house. We were not looking and there are no other houses that are a step that we can afford other than this one.

Originally Posted by SensibleChiefsfan

How many square feet are you looking to carpet? Call around, and get several estimates. Go into new construction areas and try to catch some of the carpet layers that are there and see if they do side jobs.

You should be able to get it for less than $2.00 per square foot. I usually get it installed around 1.50 per square foot with new pad and everything... and I don't go with the cheapest carpet.

Went to 3 different stores today and the cheapest we could get for 2 rooms was 1800 installed. Only 600 sq feet too.

[SenselessChiefsFan]

Originally Posted by Guru

It is either this house or no house. We were not looking and there are no other houses that are a step that we can afford other than this one.


Went to 3 different stores today and the cheapest we could get for 2 rooms was 1800 installed. Only 600 sq feet too.

Did you already put a contingency contract on this house?

Also, don't got to any 'stores'. Home Depot, Lowes, Sears.... all will gouge you.

google 'carpet installer'. Look on Craigslist. Look for reviews online if you have questions.

Try to do cash. And, let them know that you will give them cash when the job is done. And, see if they can give you a cash discount. Installers have to pay a processing fee for credit cards. Plus, if you give them cash, they don't have to make a deposit. Everyone likes money they don't have to tell the IRS or their wife about.

I understand the situation. But, if you really want that other house, then make the play for it.

If you can't do it...then you end up with new carpet. But, in this market, you really have to either discount your house or make it really stand out. (in a good way).

I wish you the best no matter what.

[007]

Originally Posted by SensibleChiefsfan

Did you already put a contingency contract on this house?

Also, don't got to any 'stores'. Home Depot, Lowes, Sears.... all will gouge you.

google 'carpet installer'. Look on Craigslist. Look for reviews online if you have questions.

Try to do cash. And, let them know that you will give them cash when the job is done. And, see if they can give you a cash discount. Installers have to pay a processing fee for credit cards. Plus, if you give them cash, they don't have to make a deposit. Everyone likes money they don't have to tell the IRS or their wife about.

I understand the situation. But, if you really want that other house, then make the play for it.

If you can't do it...then you end up with new carpet. But, in this market, you really have to either discount your house or make it really stand out. (in a good way).

I wish you the best no matter what.

It is a foreclosure house and the bank won't accept contingency offers. That really tied our hands. Don't know how they expect to sell it without contingency offers when prospective buyers have to get rid of their house too.