Sellers have leverage, but buyers will balk at these things

The worst kept secret in the real estate world right now is that it’s a seller’s market — meaning it is an environment where selling a home is not as difficult as in other markets. After all, sellers have the goods, right? There will be a line of buyers just dying to waive inspections, appraisals, pay WAY over ask and move in, right?

Not so fast.

While there is some truth to this and in 2020 I personally had a lot of success in getting the absolute best offer for my sellers, there are some sellers who take it too far and think putting a sign in the yard is enough to get top dollar. The truth is that buyers out there can overlook a lot, but no matter the market they will pause at the items outlined here:

From small cracks above your door frames (not a huge deal) to bowing foundation walls, there is a wide range of defects in this category. Most inspectors are not structural engineers and won’t professionally advise on the scarier stuff. Hiring an engineer is not cheap and even then, they have trouble signing off on things to make the buyer comfortable. These types of defects can be perilous to a seller if the buyer cannot be assured the home is safe.

From a mustiness in a basement to water flowing right through your foundation wall, this category really scares people. Not only do people worry about flooding, agents should advise their clients about the long-term effects of mold exposure. Buyers are often hesitant to take ownership of a home which has water issues because it usually isn’t a straightforward fix. It often requires troubleshooting and further exploration. The seller will sometimes be asked to fix prior to settlement, but even then the buyer is always going to wonder every time it rains whether the issue will continue.

Smoke, pet odor, moth balls, mold — you name it, I’ve dealt with it. Many agents will claim that an ionizer is a quick fix, but my experience is that it is merely temporary. The source of bad odors goes beyond just cleaning the air. Usually these odors are embedded into the flooring, furniture and walls. This means wholesale change is required for removal and can be quite expensive depending on what you’re dealing with. A key here is that there is no partial approach here and you need to remove everything which contains the odor. I have had sellers put new carpet into a home with heavy pet odor and the carpets simply absorbed it wasting thousands of dollars. Best to consult with someone prior to remediating this issue. Remember, the odor is simply air and it gets into absolutely everything.