Before you put your house up for sale, you may want to take some time to make necessary repairs and upgrades to the home so it is suitable for sale. While this may require some time and money, it may help you sell your house; however, there may still be some work needed on the house when you list it with a real estate agency. If so, you should consider offering a cash discount for the needed repairs to the person that buys your house instead of offering to fix the problems. Here are three reasons to consider handling this situation with a cash discount instead of making the repairs yourself.
It takes time to make the repairs
The first thing to consider is how soon you would like to close on your house. If you are in somewhat of a hurry, it might be faster if you would simply offer a cash discount to the buyer to cover the costs of the repairs the house needs. With this method, you could start working on closing on the house as soon as you and the buyer agree to the terms. If you had agreed to repair the items first, the closing may be postponed until the repairs are completely finished, and this could cause delays in the process.
The buyer could be dissatisfied with the repairs you made
The second thing to consider is that if you agree to make the repairs, the sale will not go through until the buyer is satisfied with the work you have done, and this could end up resulting in problems. This is the biggest risk you take if you agree to handle the work yourself before closing on the house. If the buyer is very particular, he or she might require changes to the work you had completed. In other words, the buyer may never be satisfied with the job. This could result in delays in the closing and a lot of money spent, and it could also result in the buyer deciding not to make the purchase.
It could be cheaper
It is often cheaper just to offer a cash discount to cover the work needed. If you want to pay the least amount of money and close on your house quickly, offering a cash discount is usually the best option.
There are many ways buyers and sellers negotiate during home sales, and this is a common method used. If you have questions about this or other things related to selling your home, talk to a realtor.