Quote:
Originally Posted by NavyNJ
Sellers can (and have always been able to) add in improvement/upgrade costs to the sales/listing price of their home to the heart's content. That in no way effects the selling price that they might be forced to accept due to market conditions. Buyers will make offers based on what they perceive as the value of the home.......not a laundry list of improvements the seller added. There are more than a few examples of sellers over-pricing for this reason, then being forced to do price drops until they reach the "market" price for their area, or simply to accept offers well below their lofty expectations. But you're generally right in that sellers should "consider" the costs they've added to improve the home......then decide with their realtor how to reflect those in the listing price.
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My post was addressing The Villages rule that, if you purchase a new house and then sell it in less than a year, there is a maximum price you are allowed to get. Some people mistakenly think that, if you paid $300K, that you would have to sell it for $300K or less. That is not true. The actual sales price limit would be $300K plus the cost for upgrades you made, plus the 5 or 6 percent sales commission paid to the broker.