Home sellers need to pump some cash back into their property if they want to get their desired price and in best time-frame.
That is especially true in the buyers markets, such as Montreal, where many remain on the fence on whether to take the jump.
“If you can fix the practical things that can be fixed, such as windows, roof or doors, then do it. Don’t worry about the aesthetics of the property. Sellers need to fix the items that no buyer wants to be left with after buying,” says Paul Hecht, the Montreal-based Realtor and investor.
Hecht says that the many buyers he works with are in “no immediate hurry” to close a deal as they believe they can now get a better price and property, and especially in a market like Montreal with so much stock available.
Hecht’s advice comes in the wake of harsh criticism targeted at developers for rehabbing properties and subsequently increasing rents.
Former and current tenants are alleging that the company embarks on major upgrades on some parts of their buildings and neglects the basic repairs in a bid to push out renters. They claim that the developer then increases the rent and target new tenants.