Last night, I was meeting with someone who is considering selling their home.
One of the first questions I was asked was, "Should I replace the carpets or just offer a credit to the buyer?"
This is actually a very common question. And my answer is always the same:
Replace the carpet!
While you're at it, make any necessary repairs.
Do everything you need to to bring your home into model home condition.
There is a lot of inventory on the market right now. Buyers have a lot of homes to choose from. You want them to choose yours. How do you do that?
Well, of course, you have to price it right.
You also need to make the home easy to show.
And, of course, the home needs to be in perfect, model home showing condition. Always!
Make any needed repairs up front. The carpeting can probably be replaced now for about $2,000. However, a buyer is going to look at the stained carpets and demand a $5,000 credit. Or, worse yet, they'll lower their offer price to compensate for the carpeting, plus they'll ask for a credit.
Surely, as a seller, you stand to make more money by replacing those carpets up front, before the home hits the market.
If you can't afford to replace those carpets, ask the carpet installer if you can pay them at closing.
Otherwise, we'll have to price your home lower to accommodate the deficiencies. And, unfortunately, the offers submitted by buyers may be even lower...
Don Fabrizio-Garcia, REALTOR
Real Estate Sales & Appraisals