If I sell my house as is, will it cost me or save me? You may be asking this question for a number of reasons. Perhaps you were offered an out-of-state job, or your house has too many repairs that you don’t have the time or money to fix. Whatever the reason, here is a guide to help.
The following is a guide to know when it makes sense for you to sell your home “as is.”
What is Selling As Is?
Selling your house “as is” means that you sell it in the exact state that it is currently in. Most likely the property needs repairs or improvements before being sold. Instead of making those changes, you sell your home for a lower price and let the buyer fix up the home.
Pros of Selling As Is
There are many pros to selling your house “as is.” Most of them fall under two main categories: Save Time and Save Money.
Saving yourself time is a major pro of selling your house “as is.” First, you do not have to make any repairs or update features in the home. That means you won’t spend your weekend working on the home you are selling. Or, living around construction as a company completes the repairs.
Selling as also opens up the possibility of easily selling your house for cash. Investors are always looking for houses they can invest in. That means the closing time would be weeks or months shorter than a traditional home sale. You can typically close the sale of your home to a company that buys houses for cash in 5-7 days.
Every repair you make can get a Return on Investment (ROI). However, a “great” return on investment for most projects is 80%. That means it still costs you 20% to make that repair.
Sure, you may be able to sell your house faster as a turn-key on the traditional market. However, you will rarely receive a 100% ROI on your repairs and upgrades. So, the repairs still cost you money in the end.
By selling your house as-is for cash, you save in two big ways. For one, you don’t have to pay any real estate agent commissions. For two, you don’t have to invest in repairs that won’t get you your full investment back.
Cons of Selling As Is
Just like there are some great things about selling your home “as is,” there are cons as well.
When you sell your house “as is,” you will likely receive fewer offers on your home. Many buyers cannot picture how to fix up your home, so they shy away from purchasing houses that need work.
However, selling “as is” is very appealing to investors. So, you may be able to get several offers from companies that buy houses for cash.
Make a Lower Profit
In the end, it may feel like you lose out on profit when you sell your house “as is.” It is true that you will not get top dollar for your property.
But you must remember that even if the sales price is lower, that doesn’t mean your profit is. Don’t forget that you won’t be spending money on any fees or repairs. In the end, it may balance out. Only you can decide if that is worth saving all of your time and moving on into the next chapter of your life.
To help you determine if it’s worth it, here is a helpful article on How to Calculate If Your “Sell My House As Is” Offer is Fair.
How to Sell My House As Is FAST!
If you’re interested in selling as-is and closing fast, contact us at Tropic Coast Homes. We will answer all of your questions and give you a no-obligation offer. Our knowledgeable staff can walk you through the process to see if it is a good option for you.
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