Mortgage And Real Estate News

Sunday, March 9, 2014

Are fixer-uppers worth the work?

Real-estate agents say many buyers have trouble seeing the potential in a fixer-upper.

Those who can see the possibilities in a home that needs to be updated can fall in love with its potentially lower price tag. But buyers should make sure they know exactly what they’re getting into before buying a fixer-upper.

It may not be as simple as adding fresh paint or glossy new countertops.

John O’Hagan, a Phoenix real-estate agent, says he typically sits down with clients before touring homes to talk about easy fixes vs. things that could be prohibitively expensive or unsafe.

“I think setting expectations with your clients is the most important relationship builder,” he says, adding he also uses that meeting to determine how much work the buyers are willing to do.

Read more...Are fixer-uppers worth the work?

Reuters: Business News

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