If you have ever sold a home, you are familiar with that initial visit from the realtor. What you thought would be a quick process turns into an hour or more of you scribbling out a to-do list as long as your arm.
A fresh coat of paint, re-caulking the bathroom, fresh mulch in the flower beds, cleaning the gutters--where will it end?
If you had trouble keeping up with these chores while living in the home, why would anyone expect you to do them now that you are moving?
Whether you need to do some regular maintenance or something more extensive, like replacing the roof or HVAC unit, selling as is can be the solution you are looking for.
Read on for what you need to know about the process.
Pro: Selling a House As Is Allows You to Quickly Put it on the Market
Preparing the home for sale often leads to many neglected repair projects. To have the home looking its best for open houses and compete with other homes on the market, it needs to be in top shape.
If the thought of getting the home in ready-to-sell shape seems overwhelming, selling as is can be your best option.
Realtors will work with owners hoping to sell as is, but there is another option.
There are companies that specialize in purchasing as is homes for cash. You provide information on the home, they provide a no-obligation quote. If you accept, you can have cash in your hand within a week.
Con: You Won't Make as Much Money
One thing that attracts buyers to this type of sale is that they can get a deal. The benefit you get of skipping the repairs and updates before putting the home on the market means the buyer will have some work to do right away.
Pro: You Will Save Money
The fact that you won't make as much when selling a home as is may be offset by the lower expenses when selling the home. Without the need to make repairs or updates, you won't have as much invested.
Con: Fewer People Will Look at the Home
Some buyers see the potential for a great deal when a home is listed for sale as is, but for many others, it is a red flag. Many people want to buy a move-in-ready home.
Even if the home doesn't need much cosmetic work, the term as is can spook some buyers who worry about undisclosed issues.
Skipping the retail buyer and contacting a professional makes sense. The process is straightforward, and you get your money without the hassle of dealing with multiple potential buyers.
Pro: Allows for Hands-Off Selling
In situations where a property is owned jointly, for example, a family home sold to close an estate, selling as is removes much of the emotional burden of selling.
With no need for repairs and no out-of-pocket expenses for renovations, there won't be one member of the family that feels overly burdened by the process.
Con: You Need To Disclose Problems, and May Need to Negotiate
Selling as is does not allow you to sell a home with known issues. Any problems are still disclosed. You are just letting buyers know you won't fix these issues.
Potential buyers may want to negotiate with you over price. You may hope selling as is would help you avoid this process, but if there are significant issues with the home, expect the buyer to look for a way to lower their investment.
Ready To Sell?
Now that you have a better idea of the pros and cons of selling a house as is, you may be ready to make your decision. If you still have questions about the selling process, explore this site for more information.