If you’re like most people selling a home in North Florida – whether it’s on a farm or an equestrian property or it’s in a subdivision, you know you need it to look its best. But what if you don’t have the cash on-hand for updates?
Should you offer a discount when you sell an outdated home?
Here’s what you need to know.
Should You Offer a Discount When You Sell an Outdated Home?
Many sellers choose to offer an allowance on their home. It’s a way of enticing buyers, and it means that the seller will pay to upgrade things that the buyer doesn’t like about the home. It’s written right into the offer.
For example, if you know you have old flooring in the home, you might offer the buyers a carpet allowance. That means they’ll choose a contractor to perform the work, and the amount of money you agree to pay comes out of your profit at closing. That way, you don’t have to pay for the upgrades right now; the money comes out of your profits from the sale, and the buyer is happy.
Your real estate agent may present it this way: “The seller was thinking about updating the kitchen cabinets, but didn’t want to choose a style you (the buyer) didn’t want. We’ll do an allowance so you can choose the details instead.”
Are You Buying a Home or Land for Sale in Lake City?
If you’re moving to Lake City, we can help you find the perfect place to live. Call us at 386-243-0124 to tell us what you want from your home and we will begin searching right away.
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