We just put our house on the market. The electrical needs updating, and the basement needs finishing, but the main level of the house (it's a ranch) has been recently updated & is in move-in condition. Because of the electrical and the basement, we priced pretty low, and let our realtor know what our absolute bottom line was. She said NOT to fix any of the problems, to let them come up at home inspection & negotiate with the buyer.
Now we've had a TON of showings (17 in less than a week) and two low non-negotiable offers - below our bottom line, but acceptable in a market where buyers know they can usually bid 5-10% under asking - which is why we wanted to list higher in the first place. Now our realtor says these are good offers in light of the fact that the electical needs updating and the basement needs work - um, hello, that's why we priced it where we did!
It's super annoying that she isn's listening to our bottom line. We'd rather add an addition than sell at a loss, but were willing to make these updates BEFORE listing but based on her advice we listed lower than we wanted to. I know that this is why we've had so much traffic - because it's priced so low - and that realistically, based on the price these are good offers. But becuase our bottom line is so close to the full price, I am beginning to doubt that we'll ever get an offer where we need to sell.
We should have done the updates, priced higher, and expected a lower offer like we thought. So frustrated that I didn't listen to my insticts and blindly trusted our realtor
Sorry, vent over.