Sunday, October 17, 2010

Is there a perfect home?

A client I am working with is considering a home here in Park City that is technically new, but has sat unattended for 1.5 years.

He brought a "builder" friend to look at a home he is considering. They looked at the outside only, and the friend had quite a few things to say about this particular home. He pointed out several maintenance issues - or lack of maintenance on the exterior of this home. He told his friend he would not even pay an amount that is $100K under what the buyer is willing to pay for this home. Clearly this "builder" friend does not know the Park City market. At the price range this home is in, pretty much everything needs a bit of work if not a complete gutting.

Sure, the elements do some damage here and all homes need maintenance. That does not mean the home is necessarily in bad shape. Does this "builder" guy think he is doing his friend a favor? Is there a home that is perfect? Don't le him look at a 20 year old home! THERE WILL BE NOTHING RIGHT ABOUT IT!

One of the things the Due Diligence time frame is for is to figure out what condition the home is in. A licensed inspector comes to the home, looks at everything that can effect the functioning of the home. With the list the inspector provides we can ask the seller to address the items. The inspector is an unbiased party - not trying to impress his friend with his knowledge. The buyer can then decide whether to purchase with their eyes wide open.

2 comments:

Ann said...

The same thing almost happened to me!

Unknown said...

Turns out this home/neighborhood has some real issues other than the cosmetic ones pointed out. Either way, I was so annoyed at this situation. I know I sounded a bit whiny!