To expand some more. I lived in a city other than Memphis. I also had to pay the difference in packing costs because the company has a better deal in Memphis for packing, trucking and storage ($1200). They dropped that bomb on me 2 days prior to delivering my houshold goods and I was basically told they wouldn't deliver unless I sent them a certified check.

The $3500 I spent was less than 1% of my buyout price and there was no negotiation. It was do the repairs or no deal. The inspector Serva sent over was a real hack. He was flat out wrong on 4 of the 10 things they requested, but I still had to hire a "certified" plumber and electrician to refute the inspector and show I was well within code. They then sent the same inspector back for the "reinspection," and I showed him all the repairs were made or documented that they were in code.

If I had to do it all over again I would of had a good inspector come ahead of the process and fix anything that might be an issue to include any mold testing and mitigation. I had mold in some of the rafters of my attic and it was not active. Spay anything suspect with some water and bleech.

The folks I dealt with at FedEx couldn't have been nicer or more professional. It was the head of the Relocation Department and Serva that made it painful.

 

You want to mess with someone on a home inspection as a buyer when times are tough....put a radon dectector in the basement.

If it's not well ventilated, or has an open crawl space, the numbers can easily be "above normal" compared to "acceptable gov't standards" for living areas (...which why inspectors on "your side" will advise you to "retest" taking an average on all "livable" floors --- 1st, 2nd & basement).

Many real estate agents and real estate attorney's will tell you the home inspection is your biggest vulnerability once you have a signed contract ---- becuase in most states, if the buyer and seller can't come to agreement on the discrepancy or repair methodology, the contract can be legally broken.

Overall, what percent did the $3,500 represent of your total sales price?

...in today's market, I think it would be very diffcult to sell a home without spending 3-7% total on repairs/marketing /agent & other seller transaction costs.

 

I think that he's already fielded this one.

 

Was this a typo?

At a minimum, in good times, selling a home by owner will cost you 3% to the buyers agents. In today's market most people are spending close to 10-12% with incentives, closing cost and agent fee's. In California I have seen up to 7% co-op to agents bring in a buyer.

 

Yep - I missed it thanks!

 

Not a typo --- but admittedly, what it costs on the "low end".

I've sold 2 homes myself in "so-so markets" and both have cost me about 4% total each time.

I think your assessment of 10-12% in any of the "sand states" - California, Arizona, Nevada & Flordia --- where the vast majority of the real estate bust is occuring --- is spot on!

 

Thanks, that is what I thought. This is going to cost the company a fortune. I really cannot see this happening. Management heads will roll for their poor planning and there will be early retirement talks and no hiring for a long time. There is no way they are going to buy hundreds of homes.

 

As long as they buy mine I'll be happy

 

Buy your old house back, at a profit!

 

But nothing says you have to buy a house, just move within 100 mi. You could "rent" for 3 months, get your new drivers license, then decide that you don't like the cold or the crime (depending if you excessed to ANC or MEM) then decide to commute again. House still gets bought, you still live where you want.