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You're ready to sell your home. You diligently took notes while watching your favorite HGTV real estate programs and repainted your home, added fresh landscaping and even fixed those cracks in the driveway. You feel good, you feel confident. While proudly placing the for sale sign in the yard, you instantly become aware of the eyesore across the street you've grown use to ignoring. Surrounded by overgrown grass, more cars than any family needs and weeks of piled up newspapers, how are buyers going to fall in love with your home when that neighbor is just plain sloppy?
According to the National Association of Realtors, a sloppy neighbor can shave an estimated 10% off (varies from market-to-market) the value of a nearby listing. In fact, it's common for buyers to utilize the eyesore next store as a tool to negotiate a lower price - regardless of the numerous, sparkling upgrades that grace the interior and exterior of your home.
Investigate the situation
What can a seller do in this situation? Although uncomfortable for all parties involved, discussing the issue with your neighbor is one option. The goal is to get a clear picture of who you're dealing with.
According to one California based real estate agent, "Neglected properties likely belong to one of two types of people: those physically or financially unable to keep up with the work and those who purposely buck social norms."
In some situations, your neighbor may be facing a major life change like a divorce or sickness. Gently bringing your concern to their attention and/or offering to help with their exterior restoration might do the trick. The idea is to focus on your neighbor and not make it about your hopeful sale.
Some branches of the National Association of Realtors have funds set aside to assist older or immobile homeowners with maintaining the outside of their homes. Talk to a local, licensed real estate professional and see if their branch supports this program.
Enlist the help of a higher power
If your attempts to reason with your sloppy neighbor fail, you may need to review municipal laws managed by your local building or health departments.
Laws will vary, but some areas charge large fines for things like keeping piles of wood around that may attract animals, while others areas enforce strict anti-rooster ordinances. Consult your city's website to see if your situation is listed.
Keep in mind that getting the attention of your local government can be a tricky, drawn-out situation. However, if your neighbor's neglect has reached dramatic proportions, it's certainly worth a shot.
Special situations call for special buyers
Your sloppy neighbor won't budge and their not quite infringing on any municipal laws. Now what? Carefully audit the area you live in.
Is your neighborhood changing? Maybe older shopping centers are being renovated to include popular dining spots or homes in your area range from run down, to remodeled, to being completely knocked down. These factors can attract a specific kind of buyer who's looking for a project and sees the value in an evolving community.
If this is the case, shift your focus from your sloppy neighbor to a strategic marketing plan. Promote the "uniqueness" of your community. Check with your city's building department and see if any exciting projects, like the creation of a new sports park, are in the queue. Along with professional photos of your well-kept home and details of its cared for amenities, include a positive spin on your area's neglected spots and you just might attract the kind of buyer willing to overlook your sloppy neighbor.
A professional opinion counts
No matter what tactic you use to deal with the eyesore next store, consult a licensed real estate agent who specializes in your area. Many agents have experienced this situation, can guide you as to your best course of action and have the right connections to the kinds of open-minded buyers you'll need in order to move on.
By Danielle Macklin, Allied Schools,www.realestatelicense.comLabels: How to sell your home