Renovation credits are an excellent way to improve the value of a property after purchase. Recently, we helped a client negotiate a $15K renovation credit on their Calgary home, allowing them to make updates without breaking their budget. Here’s how we achieved this win.
Understanding the Potential for Renovation
When our client expressed interest in a property that needed some updates, we saw an opportunity to negotiate. The home had great bones but required some cosmetic work. Instead of allowing the seller to avoid making repairs, we strategically requested a renovation credit as part of the negotiation.
Presenting the Case to the Seller
We presented the renovation credit request in a way that benefited both parties. By highlighting the seller’s willingness to sell the home as-is and showing how the credit would allow our client to personalize the space, we made the offer more attractive to the seller. We also made sure the credit was in line with the home’s market value, ensuring both parties were on the same page.
Ensuring the Credit Was Useful
The credit was ultimately applied toward the buyer’s closing costs and future renovations. By including specific details about the intended improvements, we ensured that both sides were clear on how the credit would be used. This made the process smoother and more transparent.
A Win-Win Situation
The renovation credit was a win-win for our client and the seller. Our client was able to secure the property at a lower price, factoring in the credit, while the seller avoided the hassle of making repairs themselves. It was a great solution that worked for both parties, and the buyer walked away with $15K to make their new home exactly what they wanted.
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