Often relocation companies will want to negotiate verbally until terms are agreed on and they often will have non-standard provisions in their contracts.Ĭan mean new faucets and new knobs on the old cabinets. This means the seller is taking a job-related relocation and there is a relocation company involved on the seller's side. ft.Ĭan mean the seller bought a foreclosure and painted the interior. When the listing agent was asked why she was stating they were newer she stated: "Because each one of them had received a new part within the last year."Ĭould mean a 1700's home in original condition with a summer kitchen in the basement.Ĭan mean a wood frame house from the 50's and less that 600 sq. In one case they were 25 years old each (and also confirmed by a home inspector). It is often a real dump, but it typically has a big garage.Ĭan mean they have never updated the property.Ĭan mean everything is white or light brown, including the tile floors. There was a 40 year-old cottonwood tree that needed to be cut down before it fell on the house. The front yard was paved over with concrete. Has meant a half acre of grass with four scrawny trees, none of which were over 4" in diameter. This was true only if you include living in the garage and on the patio or on the decks and in the utility room. You could actually see daylight through the cracks in the foundation. White ceramic tile for flooring and bright white paint everywhere. This meant that to get to the beach by car or foot people need to get onto the highway and head North for more than two miles, and then take the causeway and cross the bridge that takes you to the beach.Įverything was white. Less than a mile from the beach as the seagull flies The "potential" referred to the fact that there was a large crack through the middle of the foundation, from the Loma Prieta earthquake.Ĭan mean it hasn't been updated since she moved in and still smells like her. Gorgeous colonial style home with great potential It was not a pretty sight!įamily Room Over the Garage, also referred to as a "bonus room" in some markets.Ĭan mean a hallway with cupboards and appliances that two people could not occupy at the same time. In a "fixer upper" with "great potential," built in the 1700's, the door fell off the hinges when we unlocked it, there was no staircase to the second floor. This includes homes that haven't been lived in for 20 years. Often means you need to bring your own lighting, hardware, paint, wood trim, and carpet. Turned out to be located on a busy thoroughfare near a freeway entrance. The listing agent explained to us that this was an unusually wet spring and it would dry out quickly when the warm weather arrived. In one case there was three feet of water, literally rushing through the basement. Often means it is so small that it is difficult to turn around in.Ĭozy, cute as a button, Larger than it looks! Room for a twin bed and one very small dresser. Typically they will only agree to buy it at about 20% less than market value to cover their risk and handling costs. ![]() The listing office will offer you a plan where they will buy your current home if you buy one of their listings. All bedrooms should have a window to the outside but sometimes that important detail gets missed. ![]() These homes usually need some repair work and are priced accordingly, but the purchase agreement negotiation can be tricky and frustrating.Ĭan be a small office with or without a portable closet. This means that the home has already gone through a foreclosure type process and the bank that held the mortgage now owns it and is trying to sell it. This is typically a short sale, (see below) but where the bank is also demanding contract provisions that may be much different from the normal contract in your area. That ability depends on what is in the purchase contract, not what is in the listing description. However, don't assume that if significant defects are identified during a home inspection that you can't negotiate for corrections or compensation. This normally means that the seller doesn't want to do any repairs. LISTING DESCRIPTIONS AND AGENT EXPERIENCES Term used
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