Selling a house “as is” can save you time, which in turn saves you money. If you need to sell a home quickly or simply don’t have repair money, you always have the option to sell “as is.” While selling a house “as is” sounds easy, there are some things you should know.
We’ve compiled a list of the top tips to help you with this process.
Get an Inspection
If you have time and the resources, it’s always best to get a complete inspection of the home before listing it for sale. This inspection will tell you exactly what condition the home is in and what repairs are needed. Doing so will prevent any surprises when a potential buyer has the home inspected. The simple fact is if the buyer knows about major issues ahead of time, it will make them less likely to run away when they find out on their own.
Communication is Key
When selling a house “as is” you will want to be as upfront and honest about the home as possible. So, this goes back to the inspection, as this gives you a complete list of all repairs the home needs. By informing a potential buyer that you are selling the home in its current condition, they are aware of what repairs are needed and are figured into the reduced price.
The Price is Right
One of the most important factors when selling a house “as is” is that you account for any major repairs that are needed. So, let’s say the house needs a new roof; since this is a costly repair, it isn’t feasible to expect to get market value. You will need to deduct the cost of a new roof from the selling price. In other words, don’t expect to get full market value for the home because the buyer will need to invest money to get the home in perfect condition.
Do What You Can
Even though you will not be completing major repairs doesn’t mean the house should look like a mess. Cleaning the home thoroughly and making small repairs can go a long way. When it comes to things that can improve the appearance, think of fresh paint, new faucets, and maybe even some landscaping in the front yard.
Remember to keep the buyer in mind when it comes to your negotiations. Keep an open mind when it comes to reducing the price further, concessions on closing costs, or even agreeing to repair items that may prevent the buyer from obtaining homeowners insurance.
In the end, selling a house “as is” can set off alarms for some buyers. It can mean greater risk since there is greater uncertainty. So, arm yourself with knowledge and be sure you know everything that a potential buyer may have qualms about.
Usually, the easiest method for selling a house “as is” is to contact companies that buy houses for cash. Tropic Coast Homes buys houses for cash in Florida in any condition. If you have a home you’re looking to sell fast in Southwest Florida, contact us for a no-obligation offer!