Has anyone ever seen a house for sale that was in such terrible conditon that the agents offered the buyer complete gutting of the kithcen and basement as a 'gift' after closing?

http://cdn.brownstoner.com/4f9b74f18f700-.jpg

Enter Your Question: House we are selling in Bay Ridge in in dire need of a new kitchen and complete basement renovation.  Sellers will not lower price, so we are offering the buyer complete gutting of kitchen and basement after closing as our ‘gift’ to them.  Anyone–buyer or seller–have any experience with this type of ‘gift’ or ‘bonus’?

GerardSplendoreHalsteadBrooklyn

in Brownstoner Renovation 13 years and 2 months ago

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mike-the-expeditor | 13 years and 2 months ago

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I agree with BrooklynHome — unless the seller was going to put the money for the entire demoltion — drawings, permits, contract with demoltion company, carting company, etc. in escrow, there’s no point in even discussing it.  It would be easier to lower the selling price and let the new owners deal with it.

brooklynhome | 13 years and 2 months ago

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No decent lawyer would advise the buyer to agree to something that happens AFTER closing.

Putnamdenizen | 13 years and 2 months ago

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Why don’t you just agree to waive your commission – you clearly aren’t spending money on advertising…

curiositykilledthecat | 13 years and 2 months ago

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OP, please note: “The Brownstoner Forum is for the site’s users to ask and answer questions about real estate, renovation and matters of local concern. Please refrain from self-promotional postings.” You are giving yourself a bad name with this sort of post. Slopegirl, they won’t lower the price and, as OP describes above, the “gift” of a gutted kitchen comes at the cost of an increased mortgage.  Only a broker could try to make this look like a good deal.  SMH.

GerardSplendoreHalsteadBrooklyn | 13 years and 2 months ago

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Seller won;t lower the price. Please take a good look at that kitchen. See it LIVE tomorrow, Sunday NOON to 1:30pm. 441 76th Street in Bay Ridge, Brooklyn, between 4th and 5th Aves. 77th Street stop on R train on corner. Wells Fargo Home Mortgage has a plan in which renovation costs can be added into the mortgage. ONE STOP SHOPPING!

slopegirl | 13 years and 2 months ago

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why won’t they lower the asking price?