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Updated about 3 years ago,
What determines “fixer-upper” status?
I’m very excited to finally get my first flip on the market. I have about 30k tied up into a used (but very nice) mobile home on a 1 acre lot I purchased that had a hidden water well and unused septic on the property. I moved the mobile, found and reshot the water well, and had the unused septic inspected and approved. With only 30k invested, and with limited knowledge of the local market, I expected to get 70-75k for the property. I contacted a realtor to discuss working with me to sell this property. He told me we should list it for 115k. I was very surprised, but obviously very excited. It just listed, but I’m curious why it was listed as a fixer-upper. During the move there were a couple pieces of broken trim that I didn’t replace in one bedroom. I also had to cut the drywall to replace a shower supply line. I repaired the drywall but did not paint it. Aside from that, those are the only needed repairs. I don’t feel like that would make it a “fixer-upper”and I feel that term will chase away potential buyers. Any opinions on this? I hate to question the realtor, but that seems odd to me. What sort of repairs are normal wear and tear and at what point does it become a fixer?