Selling a House As Is can be a big advantage when done right. While the home buying process is often known as being overly complicated with a lot of steps involved, the selling process can be just as stringent. You need to fix up the home and repair any things you have been putting off for years. You will also likely need to go through a lengthy back and forth sales process.
Selling a House as Is
However, some people would rather skip all of this and sell their home in its current condition. In the business, that is what’s known as selling a house as is. As it sounds, this means you’ll put the home on the market in its current state. You won’t have to make any repairs or tune up the house at all if you go this route. As you could imagine, this can save you a lot of elbow grease and time alike.
But it also means you will likely get less money for the home and some buyers might not be interested. Selling “as is” can also lead to a quicker sales process. It can also save you from making repairs ahead of time, which can be time consuming and expensive. You may want to get a pre-market inspection before you put a sign in the ground. This will give you a full list of the inspectors’ findings so that you can calculate the cost of making repairs if you decide to do some of that.
If you feel that selling your house as is will be the right call for you, then you are in luck! This blog post is going to look at six essential tips that should keep you in or out of trouble if you choose to follow them or not.
💲 Ask For a Fair Price
The first and arguably the most crucial part of selling as is is to make sure you ask for a fair price. If you set a price too high, your home will sit on the market for months, not getting any attention. There will be a lot of competition to sell your home. There are over 5 million homes sold in the USA alone. So if you want yours to get that home sold, setting the right price is imperative.
If your home is as is, you will almost surely need to list it cheaper than other homes in your area that are not listed as is. Unfortunately, many people will send incredibly low ball offers to those selling as is, but make sure you get a fair price. It isn’t worth taking a low-ball deal for your home unless you need it gone incredibly quickly and have no time to lose.
🙋♂️ Consider Working With Professionals
Selling a home isn’t always easy, and that is doubly true for selling a house as is. Many buyers will be uneasy buying a house as is, because they may think you are trying to hide something. Or, they might not want to do all the work often required in an as-is home. While some sellers can help convey the value of an as-is home, others will struggle.
Working with a real estate agent can help you craft a compelling sales pitch, or put you in contact with people interested in as is homes. In addition to potentially working with real estate agents, there are also companies out there (such as House Heroes), that will give you quick and easy fair cash offers for your home.
👼 Be Completely Honest and Upfront
When talking about the home and the state it is currently in; transparency is king. You want to disclose all that you know about the house to would-be buyers. Also, don’t wait for potential buyers to ask questions. You should be upfront about the benefits, drawbacks, issues and other things you think they should be aware of. Furthermore, this goes not only for your conversations with potential buyers, but also your listing and how you market the home.
You need to be sure to say that the home is offered as is, as well as be honest about the condition. If you lie or try to sugar coat things, it will only come back to bite you in the end. If you make a sale and don’t disclose certain things about the home’s condition, you could potentially face legal action. This is just one more reason you may want to consider an inspection done by a trusted third party individual or company to ensure either party misses nothing. As you can see selling a house as is does expose the homeowner to troubles if not done right.
🛠 Know the Prices of Particular Repairs
Finding ways to ease buyers worries when selling a home as is holds a lot of importance. You want them to be able to trust you and sell the value in the house. One of the best ways to do this is to perform some research into the prices of particular repairs. If you have the costs of the necessary repairs handy, it will quickly show them how much they will have to put into the home.
Ultimately this will help them to come up with a price they are comfortable offering for the home. In addition to this, helping ease worries of potential buyers, knowing the costs of necessary or optional repairs can also save you cash. Many buyers will overestimate how expensive certain repairs are, and having estimates in hand can prevent this from occurring.
🤸♀️ Be Flexible
Whenever you sell any home, but especially one that you offer as is, you need to be flexible. People want to get a house as inexpensively as possible, so likely will not give you what you want immediately. There are almost surely going to be plenty of negotiations for you to go through. If you are not flexible at all, selling a home as is can be a long and painstaking process.
Being flexible is incredibly important when it comes to selling a home quickly, which is a primary reason why people sell as is. If someone offers you a price slightly less than you ask, it might be worthwhile to take it if time is of the essence. The more flexible you can be, the more quickly you will be able to sell your home.
🔧 Be Prepared to Make Some Repairs if Need Be
While the point of selling a house as is to sell without making any repairs or upgrades, this isn’t always possible. If your home is in really rough shape or has extensive repairs needed (foundation, roof, etc…) you might not get any interest from buyers. As a result, you might need to make some repairs to sell the home.
Major repairs should often be taken care of, as no one wants to buy a home that needs significant immediate work to be able to live there. If you can take care of these bare minimum-type repairs to make a home livable, you are likely going to be able to sell it. Not only that, but you will probably get more money for it, too.
Hopefully, this article has been able to help you learn how to sell your home as is successfully.
Home Selling Mistakes to Avoid – by Bill Gassett
Getting Your Home Ready For A Smooth Sale! – by Eileen Anderson
Preparing for A Home Inspection – by Karen Highland
8 Questions to Ask a Home Inspector Before & After the Inspection – by Michelle Gibson
Summer Curb Appeal Ideas – by Luke Skar