Can you actually sell a house “as is”?
Maybe you’re asking yourself that very question after tallying up all the repair and update costs it would take to make your home capable of bringing in a higher price. So, you resign yourself to the fact you have to lower the price a bit rather than replace outdated, stained carpeting, that old electric panel, a leaky faucet, etc. Nobody’s going to pay top dollar, however, for a home that isn’t move-in ready. But you don’t have the time or the money to do all that work. You just want to move on after getting what you can for your house.
Seems reasonable.
The truth is – you can sell a home “as is”. There are companies that buy homes just the way they are. Or you can seek the assistance of a real estate agent who works with investors who purchase homes as they are for a fast sale – sometimes for cash.
The Meaning of “As Is” in the Real Estate World
What are you saying to potential buyers when you list your home “as is”? It means the home will be purchased by a buyer in its current condition. Even if something comes up on an inspection report, the seller has no intention of doing anything in the line of repairs, replacements, remodels, etc. The condition of the home is completely known by the person willing to purchase it.
Selling a House As Is
If you are going to sell your home in this manner, you’ll need to know the following:
- Disclosures should be provided. If something is wrong, disclose it.
- Make sure your home is listed “as is”.
- A pre-listing inspection should still be considered. In this manner, you’ll know everything that needs to be disclosed.
Decide if you’re going to go with an agent or for cash. Both have pros and cons: If you decide you want cash:
- Only look at buyers who are willing to do a cash transaction.
- Evaluate the condition of your home so, once again, you can tell the buyer anything that’s wrong.
- Have a conversation with a cash buyer and discuss a convenient time for the transaction, whether or not inspections/repairs will be entirely skipped, and then close the deal.
If you decide to put your home on the market with an agent as is:
- Make sure the “as is” experience is something the agent has complete familiarity with.
- Don’t get lowballed, but into your pricing, factor the “as is” condition.
- Without doing a lot of work or spending a lot of money, you may want to touch up here and there. Keep it simple and inexpensive. If something is an absolute dealbreaker, address the issue.
Cons and Pros Of “As Is” Selling
Cons:
- Expect low offers
- Repairs may not be completely avoidable
- Buyers may be turned off
Pros:
- No haggling about a required inspection (most of the time)
- A quick sale is a distinct possibility (maybe cash)
- Well-funded buyers may agree to do all the repairs
We’ll Buy Your House As Is – For Cash!
Simple House Buyers wants to buy your house for cash, fast, and hassle-free – and “as is”. No complications.
Sounds good, doesn’t it? Our doors are always open! Give us a call at 866-210-8835 or email us at info@simplehousebuyers.com. You can also use our convenient online form. Just fill it out, send it in, and we’ll get back to you.
