When should I consult my sellers to give carpet allowance?
22,613The upstairs needs new carpet.
11 answer(s)
About 4 years ago
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DislikeAbout 6 years ago
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Call me at anytime at 832-304-3607 or email john@johncanali.com
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www.johncanali.com
www.johncanali.com
About 6 years ago
As several others have said, a carpet allowance is lost. Either reduce the price or preferably replace the carpet with inexpensive neutral carpet prior to listing the property. Fresh paint and flooring will get the biggest bang for the buck when listing a home. Best of luck!
About 6 years ago
As you first do the walk thru on the day you get the listing agreement signed.
About 6 years ago
Carpet allowance makes about as much cents as telling the renter to have the carpet cleaned before they move in. How many days on market do you think that took the landlord to lease a dirty worn out smelly carpet. Lets not be lazy here replace and repaint or open up for negotiations with investors and low ballers where you loose. Understand this the retail buyers buy on emotions, not with good cents or the over asking price deals would not exists. How many bid wars for over asking price do you know of that investors to get into. I ain't gonna make any cents on this house with the nasty carpet. will make money on steal deal not cents. Show deals with deferred maintance that allows for larger equity capture that makes no cents for seller and mr. investors makes $$$. REPLACE the CARPET or price and sell as is.
About 6 years ago
I always recommend that the seller's replace the carpet with builder grade carpet before the home goes on the market. I tell them that paint and carpet are the top 2 items that will make their home feel fresh as Mark stated. I also tell them that when a buyer is looking to replace the carpet, in their minds they are thinking a much better level product and so their "allowance" will always be more than what the sellers are thinking about.
About 6 years ago
I would have this discussion prior to placing their home on the market for sale. Is the carpet upstairs beyond a professional steam cleaning? If not this could be an option. Have the seller obtain at least 3 quotes for replacement cost in case they decide to have new carpet installed or give any allowances.
Cassandra Vickers
Realtor
RE/MAX Prestige
832-298-9062
Cassandra Vickers
Realtor
RE/MAX Prestige
832-298-9062
About 6 years ago
Good evening,
If you are going to offer more than full price, negotiating carpet can be a option. If the carpet is normal wear and tear, the client can always have it steam cleaned and replaced at a later time. A contract is more attractive without small repairs, contingencies, long closing dates, concessions of any kind. If the carpet is a deal breaker that may not be the property for your buyer
If you are going to offer more than full price, negotiating carpet can be a option. If the carpet is normal wear and tear, the client can always have it steam cleaned and replaced at a later time. A contract is more attractive without small repairs, contingencies, long closing dates, concessions of any kind. If the carpet is a deal breaker that may not be the property for your buyer
About 6 years ago
As the Seller's Broker, I am not a big proponent of allowances. An allowance is a hidden cost to your Seller. For example, let's assume an asking price of $202K with a carpet allowance of $5K. The net asking price to the Buyer is $197K. However, if the Buyer's Agent is searching for properties less than $200K, this property will not be included in the search even though the net asking price is lower the upper parameter of the search of $200K.
For this reason, my strategy is to price the property correctly. In other words, the aforementioned property should be listed at $197K and no carpet allowance.
This is the right way or wrong way. This is simply a strategy.
For this reason, my strategy is to price the property correctly. In other words, the aforementioned property should be listed at $197K and no carpet allowance.
This is the right way or wrong way. This is simply a strategy.
About 6 years ago
This is a fantastic question and one that many ask when considering buying a home with needed repair.
Lenders these days are not allowing any types of allowances, so the quick Answer to your question is a PRICE REDUCTION. Another great option would be CLOSING COSTS. This allows a buyer to put less money down as their down payment, leaving money in their pocket for improvements. it will likely open up doors to potential prospects that had search parameters just under your current list price. Decorating allowances get lost in a description and are overlooked. Buyers shop by price. Put your allowance into the price - will serve you much better!
Victor Jaramillo
Sales Agent
REALM Professionals
(904) 600-8900 Cell
(281) 377-7300 Off
(281) 598-9057 Fax
www.har.com/victorjaramillo
www.victorjaramillo.backagentsite.com
The finest compliment I can ever receive is a referral from my friends and clients!!!
Thank you!
Lenders these days are not allowing any types of allowances, so the quick Answer to your question is a PRICE REDUCTION. Another great option would be CLOSING COSTS. This allows a buyer to put less money down as their down payment, leaving money in their pocket for improvements. it will likely open up doors to potential prospects that had search parameters just under your current list price. Decorating allowances get lost in a description and are overlooked. Buyers shop by price. Put your allowance into the price - will serve you much better!
Victor Jaramillo
Sales Agent
REALM Professionals
(904) 600-8900 Cell
(281) 377-7300 Off
(281) 598-9057 Fax
www.har.com/victorjaramillo
www.victorjaramillo.backagentsite.com
The finest compliment I can ever receive is a referral from my friends and clients!!!
Thank you!
About 6 years ago
"Allowances" never got anyone excited as they enter a home. New carpet and fresh paint do get noticed! I would suggest simply getting the carpets replaced. Shop around and get multiple bids. You will likely find this route to be less expensive.
Mark McNitt
832-567-4357
www.MarkKnowsHouston.com
Bernstein Realty
Mark McNitt
832-567-4357
www.MarkKnowsHouston.com
Bernstein Realty
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
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