50 dollar asbestos question

10 Replies

We have a flip in Denver that we are about to put on the market. It is an older house from the 50’s and has asbestos. We have a certified crew to do the removal that was found in one room. We will not be able to have the work done for two weeks or so but the house is ready to be shown any day now.  We have permission to be in the rest of the house that is not closed off.

Here is the 50 dollar asbestos question: 

is it a good idea to show the house with one room sealed off with plastic ?

Our business partner thinks as long as each potential buyer is told ahead of time what the situation is, and they are okay with seeing the house as is, there should not be any problem. 

Our business partner also believes if we don’t sell the house in the two week time period before the asbestos abatement is completed, we have lost nothing and we can move forward with the sale of the home with the asbestos problem resolved.

Whaddya think ?

personally I would wait. why take the chance? As a buyer it wouldn't spook me at all if someone told me ahead of time about the situation, but I can't speak for the average buyer because I know how renos work and they probably don't. They might spook easily when they see a sheet of plastic over one of their new rooms. 

Thank you for your feedback.

I would wait until it's done. The average home buyer doesn't have much of an imagination. Also, just mentioning the word asbestos will scare some people off.

I would have waited until the asbestos was done then put on market. I agree with the others comment i would wait. Ready to show means no issues. Good luck!

thanks for everyone's input, greatly appreciated. while I agree from a buyer's perspective the house will look better after everything is cleaned up, does everyone think by putting it on the market before the clean up has finished I am putting it in a negative light that may affect sales even after the clean up is done ?

 make sense ? 

If you’re trying to sell the idea of a recently remodeled, beautiful move-in ready home, I would not want any work going on during showings. I would want that thing to shine. I would hope the extra two weeks of holding costs wouldn’t kill your margins. Get the work done, list it a few more weeks closer to the warm buying season, list it for a few grand more than you anticipated and see what bites

while I agree with everyone's points, and thanks again for your input, no one is answering the 50 dollar question....

are we negatively affecting sales activities after the the clean up is done by offering it before the clean up is done

Originally posted by @Ric Weidner :

are we negatively affecting sales activities after the the clean up is done by offering it before the clean up is done

YES. Absolutely without a doubt. Do NOT list it until the repairs have been made. Might you get a buyer, sure, but you want multiple buyers bidding on the home.

If your property "sits" in this market, in this town, people will think there is something wrong with it. 

You should be using this time to market the home as "coming soon," pumping social media, and prepping for a mega open house. 

thank you, Matt

eggzactly what I am looking for !

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here