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Updated almost 8 years ago,
help with selling my primary
i owe about 165k on my primary.
we are planning to list next spring, hopefully for a list price of around 259-269k. we put down 20% when we purchased and we made significant improvements. i am compiling a list of things i am doing prior to listing the home. painting, patching, repairing and changing some things etc. i dont know what to do about my roof. there are no roof leaks but i know a home inspector will make an issue about the roofs condition.
should i get a new roof prior to the sale? the money i invest in a new roof is going to impact my resources with regards to the new purchase and all transition costs associated with a new home. im not garaunteed to recoup all money invested in roof. i dont think a new roof will automatically increase my house value by the money invested in...
should i wait until i find a buyer, wait until the buyer has an inspection, then negotiate the sale price down? i would much rather negotiate the sale price that come our of pocket. my wife and i have substantial savings and we make decent money. we have our eyes on a certain price point and certain features in our next house, we would really like to keep as much cash as we can to make our next offer pretty solid.
i would like to net at least 70k on the sale. in order to net 70k i need to sell for around 245 and pay out the commissions to agents and some closing costs, i don't know exact numbers but hopefully clearing 235k. if i list for 259k-269k, i have at least a 20k margin to negotiate.
i would much rather reduce the sale price than come out pocket....is the the correct approach?
why and why not?