Update:
Thank you to everyone who responded to the original post. I’m back with an update and seeking more advice. I’m grateful for everyone on this sub because I don’t have anyone I could turn to for this kind of advice.
We ended up getting an offer. The buyer did 2 walkthroughs and after the second walkthrough stated that there feedback was that they were concerned of the roof age/damage… our realtor asked if they could mention a roof allowance and probably too our mistake as we may have played our card to early . We said yes because in the end we assumed we would pay something towards it or other maintenance and as long as it was under a certain amount we don’t really care what the money is used for.
Well they ended up putting in a full price offer woohoo! But then asked for a whole new roof (prior to inspection) and us to cover all closing costs. So all in it is way off from a full price offer and pretty much puts us at breakeven.
We are in no way going to cover a penny of their closing if we giving an allowance towards the roof but I am wondering how we should play this? I’m a little bothered of paying up a whole roof prior to even inspection but we did accidentally play the card that we would cover something. and we honestly would, but I don’t want us to agreed to giving a huge portion towards the roof especially prior to an inspection, and then they hit us again at inspection for a bunch more on something else. We only wanted to pay up to about $5k in concessions total because we felt that our price was also already including the age of the roof to some extent.
Should I offer all of our concession amount up front with a stipulation we won’t cover anything that comes up in inspection because we are helping address their only ‘concern’ now or should we just throw out a lower number like half so we can offer more later if and when necessary?
We are getting a roof quote now, so I’m figuring if this sale doesn’t work we may just bite the bullet and buy the new roof ourselves and raise the price because everything else of importance js fairly new so I feel as though we may even be able to raise our list price at that point and get more attention. As always, any and all advice is welcome. I don’t want to get steamrolled in a deal.
Original post:
Should I pre-emptively offer Sellers allowance for roof?
Basically the title. Our house has been listed for a little less than a month and we are in a part of the country where the market is a little bit slower (about 80 days average to go to pending) and our Realtor was already asking us about a price reduction or sellers allowance towards a new roof because our roof is about 16 years old. We've had maybe 10 showings which seems pretty decent to me for the area but have not had a lot of feedback about anything of specific concern.
I understand it is a weak point for selling but it is still in pretty good condition. It doesn't leak, and there is no real apparent damage to it but I know that doesn't matter to the insurance companies. We still have insurance and have been able to bounce around to a few different companies for better prices so it is a little bit annoying that I should be expected to put up for an entire brand new roof in order to make the sale.
We would definitely be willing to negotiate something if we were to receive an offer, but I just hate to offer something up like that for "free" and then to get negotiated down separately on our list price or other concessions when I honestly feel like we are priced pretty low based on homes that have been popping up around us.
Should we just wait or would it be a good idea to offer up an allowance or maybe we just get a new roof ourselves?
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source https://www.reddit.com/r/RealEstate/comments/1jcjuhu/update_should_i_preemotive_my_give_seller/
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