Are you planning to sell your house just as is? The real estate world is a very adaptive industry and selling your house as is may at times seem like the easiest way to sell your home especially if you are not in a position to work on it.
Selling as-is means putting up your house on the market in its current state, regardless of any renovation, upgrades, or repairs that it may need. Many people are today opting to use this method because of the benefits that come with it.
The first step to selling your house as-is involves knowing the right steps to follow so that you can get the best pricing strategy. This means picking the right realtor to handle the sale. You also need to know what it entails and if there are any pros and cons.
Take a look at some of the benefits of selling your home as-is.
1. Less Work
Prepping a home for sale can be very hectic. A seller has to clear out their belongings and plan for thorough deep cleaning. When selling as is, you will not have to do any of these things.
Buyers will just come to view the house irrespective of its condition. Some buyers might even allow you to leave what you do not need.
This is the best way to sell your house without having to deal with the stress of planning and staging an open house.
2. Low Expense
As an as-is seller, you do not have to spend money on home improvement, renovation, and repairs. You can choose to make minor repairs like replacing a broken lighting fixture or painting the living room if necessary.
The minor repairs you choose to make will depend on the current condition of your house and your finances too. However, you can still just sell the house without fixing anything.
3. Best for Estate Sale
If you and your siblings have inherited some property from your parents, the best way to handle such would be to divide the proceeds amongst ourselves. If none of you has the time, ability or is willing to spend their money on renovations, then it is only best to sell it as is.
This way you will be able to sell fast. It is unlikely that one will claim more given the fact that none of you invested in the property in any way.
4. It Works for a Tear Down
If the land on which your property is sitting on has more value than the house itself, then it is best to sell your home as-is. This is simply because there is no sense in upgrading a house that will most probably be torn down.
You can also be selling an old property that is outdated and any investor buying such a property would be more interested in bringing it down and putting up a better structure rather than renovating it. If sold the right way, you can be able to get a worthy sale value.
5. Selling as Is Attracts Cash Buyers
Many as-is sellers often end up selling to cash buyers. Selling cash means that the process will be much faster and that you will be able to close the sale, and have cash in your hands as soon as you sign the sale contract.
This also means that you will avoid any legal issues because the buyer assumes all the liability.
Whether you are selling your home as-is due to some financial distress or you simply cannot handle the stress of preparing to sell your home, keep in mind the following.
• Be Open about the Condition of the House
Even though you are selling your home as-is, you should not lie about all known conditions. The buyer will want to know about plumbing problems, termite damage, water damages, and maybe non-working appliances. Being upfront will protect you from legal problems.
• Your Buyers Can Negotiate for Repairs Needed
The expectation is that the buyers will want to negotiate for the repairs. This is because they will want to upgrade it before living in or selling the property. Do not forget to include the final agreement in the contract.
Buyers can negotiate for repairs regardless of the property’s advertisement.
• Be Ready To Compromise
If you have a little money that you can use to make a few improvements to your home before putting it up on the market then consider making a compromise so that you can get a better price.
Rip off that wallpaper and give the room a fresh coat of paint for a whole new look. Simply and affordable improvements can greatly affect the offers you will get. Your realtor should be able to advise you on the little things that you can do to help sell your home quickly.
• Price the Home Appropriately
Your expert real estate agent should be able to guide you on how to price your home when selling as is. This means you cannot compare the value of your home to your neighbor’s home especially if they are not selling it in its condition.
Buyers and investors consider buying as in properties so that they can also make a profit from it and this means buying it below the current value. If you price your home well, you can be sure to sell faster and still making some good money out of it, especially with the right realtor.
Selling as Is Can Be Fast and Easy with the Right Realtors
Selling as is does not mean throwing away an investment or selling at a loss. Working with the right realtor and understanding the market is key to ensuring that you sell what the property is worth in its current condition.
Do you want to learn more about selling your home as is or have a property to sell as is? Check out our website for more tips about selling your property.
Contact us in case you have any questions on selling your property as-is.