How do carpet allowances work




















Susan does such a fantastic job, that I recommend her to my friends and coworkers. I look forward to working with Susan in the future. Susan was not only professional but put me at ease with selling my house. I have a very hectic work schedule and Susan made sure she was available for questions at all times of the day.

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She explains the process with patience and professionalism, then follows up with detailed correspondence and time lines. Susan is kind, understanding, thorough, transparent and keeps the process painless and stress free for everyone!!! I am extremely grateful for her professionalism and compassion!!!

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The best agent out there! Read More from Justen Peeling Lancaster. Sue Spahr went above and beyond for us - even showed us homes via facetime! If you are unable to afford carpet before listing your home, I may have a solution that helps both the seller and buyer. As an experienced agent, I work with proven, reliable contractors on a regular basis.

The carpet company will then get paid at closing. This allows the buyer to get new carpet prior to moving into the home, yet saves the home seller money in the transaction. The smart financial move is to install new carpet — if needed — BEFORE you list your home so that it looks fresh and inviting. Buyers will be wowed by the new carpet and fresh paint and the stunning look of your home, rather than distracted by the old, worn carpet. But if that is just not financially feasible, I can help you find a way to sell your home for a good price without taking a huge financial hit for having old carpet.

These twin facts imply that a seller can almost certainly get his or her way in any transaction. Yet this is not necessarily the case. Every property is different just as each seller approaches a potential conveyance with a unique level of urgency. In fact, each owner who faces pressure to drop the sales price must consider making allowances as a viable alternative. What Are Allowances? Allowances are credits the seller advances to the purchaser that are applied against the sales price.

When a house is in need of repair -- and the seller lacks the time or funds or the desire to make the necessary improvements -- one way to resolve the matter is for the seller to finance the work through his or her own sale proceeds. Accordingly, when settlement day arrives, a credit shows on the settlement statement subtracting the calculated sum from the amount due to the seller.

This reduces what the buyer must pony up without changing the sales price. Common Reasons for Allowances A new roof or re-shoring eroded masonry -- particularly outside stairs -- are unquestionably acceptable reasons for making an allowance. Painting, window replacement and certain landscape restoration are also common restoration projects that qualify for seller credits. There are other uses that invite controversy.

A "flooring allowance" is often realtor-speak for new carpeting.



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