Can a condo be sold with a credit in lieu of a kitchen?

honorbiltkitSeptember 5, 2011

While my sister and I were finding excuses not to go down to Cocoa Beach FL to clear out our parents' belongings, we allowed the condo we had inherited to succumb to mold. We have had the mold remediated and have an EPA clean bill of health, but we had to have everything in the kitchen carted off.

Had the mold not occurred, we would have sold the condo "as is," i.e., with dated builders grade kitchen and bathrooms, and priced it accordingly. The only difference now is that there is no kitchen at all, just a large open space that includes the former kitchen and the family room, which can be configured however the buyer pleases. Were I buying, I would prefer adequate cash back in lieu of a new kitchen in someone else's taste.

There are 16 apartments configured like my parents' in the complex, and most have them have been tarted up a good bit over the years. A buyer would be able to look at various layouts -- e.g., island vs the original peninsula -- and finishes before deciding what to install.

If people are looking for 1600 sq ft condo in a warm climate with a boat slip and water views, only two blocks walk to both the beach and a major supermarket, in an area that is pretty short on employment now that Cape Canaveral is winding down but provides infinite choices among restaurants with Early Bird Specials, would those people prefer cash adequate to install a nice kitchen of their choice, or would they prefer something turnkey?

I think it's the functional age thing I am worried about, that anyone who would want to nest for the duration in Cocoa Beach might be beyond wanting to make decisions about kitchens, which as we all know is harrowing at any time of life.

If I have to do it, I should start soon, and probably do the bathrooms as well.

Anyone who has a thought about this, please advise.

Thanks. hbk

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I hope the OP comes back.

That's a tough question. I don't know how many people buy fixer upper type houses that need extensive work before they can move in. Since a kitchen often takes a good bit of time, that means paying another month's rent (or more) at a time when first time home buyers are often strapped.

I think, if it were me, I'd go to craig's list or a Habitat store and get at minimum, a sink in a cabinet, free standing stove, and at least enough cabinet/counter space to set something to work on it.

Then, you haven't spent a ton of money, you can still give a kitchen allowance, and the new owner can move in after closing and live there while they figure out what to do about the kitchen.

I think a house with no kitchen at all will make more people walk away than think about the possibilities. It never ceases to amaze me how many people want a house that is move in ready, where I (and most of the people on this board) start thinking of how to remodel it the minute we walk up to the door.

    Bookmark   September 6, 2011 at 9:40AM
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