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Nobody Wants A Flooring Allowance

This rates as one of the most encountered Seller suggested Boo Boos. The points below really clarifies why what sounds like a reasonable idea is truly not. No imagination. No time. The expected compensation for inconvenience. The last minute requirements. Check out the points below then go full steam ahead with carpet selection.

Nobody Wants A Flooring Allowance--

Carpet

 The carpet looked like the deck of Noah's Ark. Feathers, feces, and finger nails seem to be the design theme. Before I could begin my listing presentation, the seller was mumbling something about a flooring allowance.

And boy was it a reasonable offer! For what he was willing to "invest" a family of four could go to dinner, movies, and probably have enough left for a carton of cigarettes. But it was nowhere near enough to replace the soiled flooring...

Let's take a moment to examine the flaw behind the flooring allowance...

  1. Buyers have ZERO imagination-- If I had a nickle for every showing that ending at the front door, I wouldn't be writing a blog post on a Saturday morning. "Staging" flooring samples in the room is worthless. Why would a buyer focus on an 18 inch tile when there are YARDS of soiled carpet in front of them? They won't.
  2. Buyers are broke--With money tight for most families, coming out of pocket for new flooring is not an option. And no, your 2,000 dollar allowance will NOT replace the flooring. Think 4-6 bucks a square foot.
  3. The Seller will have to compensate the buyer for the hassle-- Even if the buyers have the funds, expect them to deduct 2x what the flooring costs from their offer.
  4. Your home will appeal to fewer buyers-- Even in a robust market, some homes still linger. Price and condition are two of the variables that impact days on market.
  5. Worn Flooring can be an apprasial issue-- I have seen deals brought to a halt because the appraisal was not comfortable with the flooring. Imagine having to replace the carpet two weeks before closing? Been there, done that, no fun for anyone...
  6. Old carpet stinks-- A gallon of Old Spice cannot over power puppy-urine fertilized shag carpet. Remember, smell is the sense most closely linked to memory. How will clients remember YOUR home?

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130 Woodwind

Pineville, La, 71360

(318) 613-1994

 Equal opportunity housing. Doug Rogers is a licensed real estate broker in Louisiana

 

 

 

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Comment balloon 3 commentsCheryl Ritchie • August 13 2013 12:06AM

Comments

Good morning Cheryl,

Excellent post to re-blog......I missed this one and oh is it true! Lenders today do not want to see a flooring allowance. Seller has to credit buyer with closing costs (generally not enough) or reduce the price of the home. Better to replace the carpet before going to market!

Posted by Dorie Dillard CRS GRI ABR, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker United Realtors® ~ 512.750.6899) about 6 years ago

Good morning, Cheryl!! Nobody wants a flooring allowance in our market either! 

Posted by Joni Bailey, Your Huntsville / Lake Livingston Area REALTOR® (101 Main St. Realty) about 6 years ago

I agree 100%, and in my case, every time someone suggests that, I just tell them the same thing you did.

Posted by Larry Brewer - Benchmark Realty llc (Benchmark Realty LLc) about 6 years ago

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