It’s Not Only Cosmetic Issues to Think About When Selling Your Home

When selling your home, most sellers do minor repairs and cosmetic updating. Which is great! BUT. There is more to consider.

I work with a lot of buyers, and the majority of loans that are being used are FHA ones. I’ve also had VA loans, WHEDA loans, and conventional loans. However, out of all the loans that come across my way, FHA loans and VA loans are the ones I see the most.

So what, you say? I agree, so what. I don’t care what type of financing my buyers use, I want them to use what loan program best fits their needs. With that being said, did you know that for a VA loan, the bank appraiser has to say that the age of the roof has at least 5 years left? How does your basement look? Is it block or poured? Is it bowed or cracked anywhere? Yea, that might be a problem. Did you also know that for a VA loan, if you have ripped screens on your windows, they MUST be repaired/replaced before the buyer can get loan approval? For FHA loans AND VA loans, there can’t be chipped or peeling paint – inside the home or out. I’m not ashamed to say that I’ve spent more than a few hours painting  my buyer’s future homes JUST SO THEY CAN GET FUNDING. Seems strict, right? Well, it is. 

Painting, replacing screens, big deal. That roof and basement though? What can you as a home seller do? BE PROACTIVE. Talk to your Realtor and see what options or ideas they may have for you. Get a roof guy to come out and tell you your roof is solid,  or it’s good for X amount of years. Same goes with the basement. Get estimates on file if there are issues, so you and your Realtor can address them instead of waiting around for the inspection or the appraiser to flag these things. An old roof isn’t the end of the world – but to a good deal of buyers and their bank it is. 

Have Questions When Selling your Home? Contact Green Bay Realtor Elysia Diaz

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