Preparing Your Property - Leave Buyers & Tenants No Excuses To Negotiate | Propertylogy

Preparing Your Property – Leave Buyers & Tenants No Excuses To Negotiate

By on March 26, 2013

You know the drill.

You’ve spent the morning housekeeping your property, took a trip to the supermarket to buy some decorative material and even made sure your wifi is functioning alright.

And when a potential buyer arrive for the viewing and inspect your apartment like a military bunk, he will offer you a low price to kick start the negotiation.

There is just something about your air-conditioner not being cold enough or your lights not responding fast enough that give the potential buyer ammunition for negotiation.

The irony is that you handed over those ammunition.

Well so much for all the work you put in.

You might wonder what could possibly happen if the buyer has absolutely no excuses to put in an obscene first offer that you feel is insulting your intelligence. What if he had nothing legitimate to complain about?

To eliminate shooting yourself in the foot, here is a checklist to follow before showing off your property to prospects whether they are buyers or tenants.

Plumbing & pipes

Check all piping for leaks and drips. Even if they are well hidden in obscure areas, the sound of dripping can alert a buyer to something going on somewhere…

Make sure all sinks drain quickly. Replace off color toilet seats. Check on all fixtures in the bathrooms to make sure everything is working properly.

While the bathroom is a place nobody likes to spend too much time inspecting, it is a place where defects can often be found due to the moisture. So you can bet that a potential buyer will be meticulously scanning this area for negative points to use as negotiation leverage.

Remove stains that was caused by leaks in the past.

Stains make pipes look corroded no matter how functional they still are.

Electrical works

Check whether all power outlets are working. There must be an adequate number of power points in each room.

These days with everyone so dependent on technology, having 1 or 2 power supply points in each room is simply not enough.

Using too many multi-plugs is a sign that there is an inadequate number of power outlets.

Make sure that wirings are not exposed. They not only make your apartment look bad, but can also be a safety hazard.

Air-conditioning

Needless to say, your air-conditioner must be working.

When you switch it on at it’s coldest, the air should feel cold.

If not, get it serviced if you had not done so within the last 6 months.

Sometimes, air-conditioners can also omit weird odors. Get a chemical wash if required. Clean your filters. Dirty filters give prospects the impression that you never service your system even if you had just done so last week.

Air-conditioners are essential basic home fixtures to some people. And they’d want a house they are buying to have things setup rather than having to spend money on a new installation. They delay in moving in due to installation works can also cause headaches.

You can bet that these headaches will be passed onto you as the seller.

Windows

Cracked windows and window panes have to be replaced. These window defects can be painfully obvious to observe.

Test the hinges to make sure they open and close smoothly.

Sometimes property owners just seal up a broken window as they are too lazy to replace or repair them. Don’t be that sort of owner.

Appliances

If you are selling your house, you might be removing all appliances except those that are built-in.

But if you are preparing your property for tenants, some standard appliances have to be provided.

These include television sets, washing machines, refrigerators, etc. Make sure everything is cleaned and in working order.

Ceilings and walls

Repaint peeling paint work and repair cracks. The easy way is to use wallpaper.

Just be sure to consider the color scheme of your home decorations.

You ceiling may also be leaking.

Be observant and look for patches of moisture.

Saying that, you might often get away with this if a buyer is not sharp with home inspection.

Doors

A very common problem with doors is a faulty catch.

I wonder why property owners never seem to fix them.

Doors must open and close easily. Also check the keys to each door to see if they work properly.

You can easily remove creaking sounds by oiling the hinges.

Having too many locks just gives your prospect something extra to mull over… because they will have to remove them without damaging tor door or replace it altogether.

Garden

If your property includes a garden, remember to cut the grass and water your plants. Beautiful landscaping can really increase the perceived value of your property.

Store rooms

The dustiest part of your house is probably the store room.

So making it look great will make prospects think about how well your house is being maintained.

Throw away the stuff that you are never going to use. Everyone has them. But a seller who means business should tidy it up.

Housekeeping

If you are too lazy to get your housekeeping in tip top condition, consider hiring someone to do it for you.

If your is a small apartment, you can get the whole place in mint condition in a day for less than $100.

When you put that against the increase perceived value and a faster deal being made, it is worth the money to hire people who does housekeeping for a living.

Safety hazards

Nothing is negligible when it comes to safety.

Look out for protruding sharp corners, nails on the walls, platforms that can trip over, window grills, etc.

When you find something that has a small hint as a safety hazard, take immediate action to remedy them.

You are responsible to keep your apartment as a safe place.

So there you have it. 11 items on your cheat sheet.

When you go through them and remedy faults that you find in your property, the potential buyer and tenant will have no room to maneuver.

They may even think that your property is very good value at the price that you are seeking. Accept your deposit checks with grace.


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