So a done deal then - you've closed?

I hope so, and that the process is behind you. I was just talking to a friend last night about the condition of her mothers home that is for sale again - it's a long story, a reverse mortgage had it belonging to the bank when she passed, has been sitting with no heat or water for about 5 years now. A lovely stately home that needs some of its elegance restored, but is it too much HGTV or what, buyers expectations are so high. First time home owners are looking for things we wouldn't have dreamed of needing. My first house had green indoor outdoor carpeting throughout, no garage, no dishwasher in a pink and copper (appliance) kitchen, skimpy closets and we were oh-so-happy there and willing to make some improvements.

It seems that you have answered your own question, did what you thought was necessary, and have an accepted offer. You are well on your way to completing the sale of the house. All that remains is for the buyer to finalize how he's going to pay for it, and then the closing.

It may be wise for you to be represented by a lawyer at closing. The property should be sold "as is" to prevent the buyer from hounding you later claiming there was an undisclosed defect that you are responsible for repairing else the deal is off and you must return any monies received. This is where your lawyer advice is important (to prevent such events). Likely, this is midyear in the tax year, therefore, both you and the buyer will owe real-estate taxes, each paying for his portion of the year for which each owned the property. An estate lawyer can help to decide what is a fair division and insure that it is written into the terms of the sale.

I think you chose well on what to do before marketing the house. Giving credit for the aging roof seems wise. A pretty yard is a big plus. Glad you have a firm buyer. When does the deal close, or has it closed?

We bought an old ranch for its location and mature landscaping. We planned to remodel it, but ended up doing a teardown. Where we live the land value is greater than the 'improvement' (house).

It is curious that in what sounds like a "sellers" market..your price came down. I was just chatting with an older neighbor yesterday about this phenom of young couples thinking they should get PERFECT homes as first time home buyers. I am wondering how prevalent that really is. Her home will be a tough sell, smoker, nothing up dated since built in the '70's. Original carpet I am sure. She raised five children in that home so it was well loved. Her husband died three years ago now. She said,"What do I care, they can tear it down if it doesn't sell". Hopefully she will never need the money for her care...

first thing I would have done was a home inspection. then with those facts and figures, based what I would have done to sell...when buyers do their own as well, is when the bones or lack of in an older home come to light and IF you're lucky, get current selling for the neighborhood...for instance would I have spent money on new carpet, of adjusted selling price saving $...and have it ripped out despite being new.

i'd almost have the property brother's show on when they're walking thru...

susanjf -- Having a home inspection before putting your house on the market can be a problem. In my area, the seller has to sign a declaration about what he or she knows about any problems in the house.

A seller may not want to have a HI's report stating some previously-unknown and expensive-to-remediate problem. Realtors can advise you on what you need to do to move your house in the current market. You may not get back your investment in improvements, but it will sell if it's priced right.

While some areas are booming seller's markets, that is only true here in a medium price range. Although our neighbors not only bought during the bubble, but also overpaid, their house has been on the market for two years. They have now 'followed the market down' to where they will be out nearly half of what they paid for it. It's a beautiful property, but it's not *new* -- same with two other large, expensive houses nearby that have been 'on' for three years. (That's a lot of property taxes and upkeep.)

Agree with chisue. DH had a home inspection prior to putting his house up, and he had to reveal EVERYTHING found. He fixed most of it, but wishes he had never had that done. The buyer's inspector didn't find near as much stuff as his did, but he had to disclose it all, and it didn't state what was fixed. Lesson learned. He will NEVER get an inspection prior to a sale, but as a buyer, he would.

Yes, we let the buyer do that. As to why our agent dropped the price, he felt that because people look at houses in increments of 25k, we would catch a whole new group of people. (He kept a close eye on comps before and during this time.) Many people also complained that because the house was on a curve, the back yard wasn't big enough for their children; the back and sides are quite large. My sisters and I didn't care to play in the back yard much because there were no friends back there! The front yard was the place to be, though this was quite a few decades ago, of course. All in all, we felt we got a fair price and were happy with the improvements we made.