This home was one of the most expensive estate sales I've done, in terms of necessary repairs before market. The deferred maintenance on this house included original appliances, lighting, roof, boiler, well, septic system and windows. It was filled with a lifetime of possessions and was dark, unwelcoming and likely unsellable. In that condition, it was a candidate for a very low offer – if there was a buyer who could see past the problems or had cash….
Before
After
Before
After
The Story
The owner of the house had lived a long full life but the older he got the less he was able to do so there was a significant amount of work necessary just to get the house ready for market. The discussion I went through with the heirs was there was so much to do that a buyer would be overwhelmed by the condition and frankly wouldn't have the $40,0000 to $60,0000 in additional cash outlay, even if they could get a "deal."
Everything needed to be done!
- New roof – repair was out of the question
- Whole house painted
- All new appliances
- New boiler
- Install central A/C
- Bathrooms updated
- Kitchen updated
- Windows updated
- Landscaping
- New lighting
Some of the items simply had to be done: roof, painting, appliances, lighting and clearing out of years worth of possessions to show the great bones of the house.
The balance was in trying to figure out how far to go so a buyer would want the house and still have enough to do some of the cosmetic changes to their taste, rather than what I would have chosen for them. Customizing kitchens and baths with granite and tile enters into an area where you are chasing after the current taste of the buyers. So it was the area we chose to clean up and make as appealing as possible – move in ready but not new – but free up the onus of the major expenses a buyer would need to put into the house.
By removing a row of cabinets and replacing them with pendants we immediately opened up the area to a more modern feel and light galore! The countertops were treated by Miracle Method of Kensington and went from yellow formica to a clean, bright new finish. This is an inexpensive fix which has a great result and will last a while until the buyer decides to make their own counter upgrades.
Stainless steel appliances were a welcome addition and modernized the look of the kitchen right away. All of the door handles for the cabinets were removed and spayed a bronzed black, which was an immediate update to the room. Those old cabinets were a fabulous quality and color so they stayed in place but the yellowed glass in the doors was replaced with a new clear pane and voila instant update.
The front hallway had a very outdated set of bars on the half wall and it was with great pleasure that we sawed them off and replaced with a lovely piece of trim! Instantly open…. The ceiling through all the common areas was a popcorn, which was dingy and darkened the room. The painter was able to resurface the entire area and provide a bright white, smooth surface. This change alone was one of the most dramatic in the natural light pouring into the rooms.
We did not install central A/C or update the boiler but had very detailed quotes in case we either needed to do it for a buyer or credit the buyer that amount. I actively followed up with any showings to see if the installation would make a difference in their choice. We also did not update windows or do very extensive landscaping.
The house was put on the market at $385,000. Staged so it showed the great bones in good detail and ready for market! The photo results show just how ready it was….
The Result
The house was only on the market about a month and was shown frequently. There were buyers who would have preferred all the updates be done but others – and one in particular – were happy with the amount of work we had put into it. The house sold in about a month for $365,000 which was the amount it was going to cost to put in the all new HVAC systems. The net to the sellers was the same whether they spent it or didn't receive it in price.
The plan we had put in place was carried out and successfully settled with a new buyer, delighted to have found a home that met her needs.
If you would like to have your estate sale settled in the same careful, thoughtful way just leave the details to me!
Contact me at 301-385-9213 or j.skilling@verizon.net
About Josette
