Do I need a realtor who specializes in old homes?
December 9, 2015 8:21 AM Subscribe
I will be selling my mom's house, an 1850s farmhouse on a nice piece of property with a creek. The realtor has given an estimate of about 225k, but I am wondering if I need a realtor who specializes in old / colonial houses. On paper the house is missing lots of features because of it's age: no garage, no central air, etc. but for the right buyer who is interested in it because of it's age I may be able to get more money for it. Are there realtors who specializes in old homes?
In most major cities there are realtors who focus on historic properties. I took a quick look to see if NJ Historic Trust listed historic homes (as many preservation non-profits do) but they don't seem too.
However, unless it is significant to its period or just really immaculately maintained with mostly original details, its unlikely the age will effect its price much.
posted by stormygrey at 8:36 AM on December 9, 2015 [1 favorite]
However, unless it is significant to its period or just really immaculately maintained with mostly original details, its unlikely the age will effect its price much.
posted by stormygrey at 8:36 AM on December 9, 2015 [1 favorite]
Unless you are in a very inconvenient corner of New Jersey, a small old house on a nice piece of land is teardown. Find realtors who know the local developers.
posted by MattD at 10:13 AM on December 9, 2015 [2 favorites]
posted by MattD at 10:13 AM on December 9, 2015 [2 favorites]
Best answer: Not a realtor, exactly, but whatever realtor you end up with it might also be worth your while to list the house at Circa Old Houses. Looks like it is $45 for 90 days and, as a person who idly looks at properties, that site seems to pop up a lot.
posted by dirtdirt at 11:24 AM on December 9, 2015
posted by dirtdirt at 11:24 AM on December 9, 2015
Tip from selling an old house with no garage: get estimates ahead of time for what installing certain amenities would cost (central air, garage, etc.). It doesn't have to be fancy; we just got an estimate on yard grading and labor, then imagined that we would smack a not-horrible kit garage from (ugh) Menards on a new slab.
That way they can take it or leave it, but you can know right away a) whether it's even possible and b) how much you might have to build into a selling price. But you're also not wasting time and money on a structure they might not even want.
posted by St. Hubbins at 1:57 PM on December 9, 2015
That way they can take it or leave it, but you can know right away a) whether it's even possible and b) how much you might have to build into a selling price. But you're also not wasting time and money on a structure they might not even want.
posted by St. Hubbins at 1:57 PM on December 9, 2015
If you want to know what it is truly worth, and you don't mind the expense, I would have it appraised by a licensed appraiser.
That said, if you are dealing with brokers who have been in the business awhile (at least ten years, twenty if you can find it) they will have a pretty good idea of what it will sell for. OTOH be aware if your prospective buyer needs it financed, the lender will more than likely require some repairs.
(The above is general info, but more specific advice needs to come from someone in your area. Real estate practice varies from state to state, and markets very much do too.)
posted by St. Alia of the Bunnies at 2:22 PM on December 9, 2015
That said, if you are dealing with brokers who have been in the business awhile (at least ten years, twenty if you can find it) they will have a pretty good idea of what it will sell for. OTOH be aware if your prospective buyer needs it financed, the lender will more than likely require some repairs.
(The above is general info, but more specific advice needs to come from someone in your area. Real estate practice varies from state to state, and markets very much do too.)
posted by St. Alia of the Bunnies at 2:22 PM on December 9, 2015
Best answer: Well, in my area of NJ (Sussex Co.), there is definitely a certain niche market for old farmhouses and I have noticed that they sometimes use specific realtors. Here is one who's name I've seen a few times.
posted by katie at 5:05 PM on December 9, 2015 [1 favorite]
posted by katie at 5:05 PM on December 9, 2015 [1 favorite]
Best answer: In the Northeast, Sotheby's handles a whole lot of historic house sales. Don't let the pictures of mansions put you off. They sell lots of places that come in under half a million. Worth checking out.
posted by Miko at 5:57 PM on December 9, 2015
posted by Miko at 5:57 PM on December 9, 2015
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posted by LittleMy at 8:27 AM on December 9, 2015 [1 favorite]