Make ready costs - Posted by Bud Branstetter


#1

Posted by JohnBoy on January 26, 1999 at 14:37:13:

Hi Bud,

The last one I did sounds just like the one your describing. It looked to be in good shape while all the furniture was still there. After the woman moved out the place was FILTHY! Same basic stuff your talking about. The seller agreed to have a cleaning service come in and clean everything except the windows, carpet, and the inside of the stove. It was one of those franchise cleaning outfits. (Molly Maids)
Regular cost was $100, but the seller had a coupon and got it done for $68. They did a fair job on the general cleaning, but the carpet needed to be cleaned and the walls were scuffed around the bottom with hundreds of nail & screw holes. Most of the nails & screws were still sticking out of the walls.

I had a tenant/buyer that came by to look at the place before I could start getting it all cleaned up. I told him I was going to have the carpet cleaned and the walls painted before anyone moves in and it should be ready in a week. I told him if he wanted to take it “as is” I would knock $300 off his option consideration and deduct the $300 from the option price and move in anytime he’s ready. He seemed to have liked that idea and took the property as is. So I guess you can say this one cost me $300 from my profit not to be bothered with it. :wink:


#2

Make ready costs - Posted by Bud Branstetter

Posted by Bud Branstetter on January 26, 1999 at 13:24:49:

I was wondering what others are paying for make ready costs. Take this typical lease/option. FMV$138K, 4 year old 4/2/2 , owners gave title with no cash but a promissory note. Left the place dirty. Work needed-clean kitchen cabinets, floor, stove etc., same on bathrooms, I doubt if window had ever been washed in 4 years. Needed vacuuming and carpet cleaning would be helpful. Multitude of nail holes and the lower 3 feet had numerous scrapes, nicks and dirt(little kids). So what are others paying for make ready costs to do these type of things.