In the USA alone, there are millions of homes are sold annually. Before many people sell a home, they will make some repairs and upgrades. This can make the home more desirable to buyers, and also increase the selling price in many cases.
However, it is also possible to sell your home “as is”. This means you sell it in its current state, without making any repairs or fixes. Sure, it might fetch you a lower selling price, but it can make the overall selling process much quicker and easier to deal with.
But before you dive in, it is important to make some considerations before selling a home in this way. With that in mind, this article is going to go over a few tips to help you learn what to know before selling a home as-is.
Know your buyers
Before you try and sell a home as-is, it is a good idea to familiarize yourself with those who might be buying it. When selling “as is” it is important to know that you will be drastically reducing the number of people interested in buying your home. Many people want move-in ready and don’t want to walk into a lot of work.
While there are some individual buyers, you can sell it fast to House Heroes and similar companies, too. These companies buy homes in cash, and can often close incredibly quickly, simplifying the process as much as possible.
Also, be sure to know what selling a house as is means for buyers, so you can better understand them throughout the process. The better you know prospective buyers and what they are looking for in an “as is” home, the easier the entire process will generally be.
Always be open and honest
When selling a home as-is, there are likely to be some things wrong with the home that need some attention. It is important that you be open and honest about what these things are. You are obligated to tell the buyer about a variety of things such as potential mold, structural issues. If you misrepresent the condition of the home, you can find yourself in a lot of trouble.
If you purposely hide certain things from a buyer, you could be held liable, and it is simply not a very kind thing to do. Be clear about the pitfalls of the home, and answer any questions you are asked as honestly as possible.
Be ready to move quickly
In general, the home buying and selling process is a long one. It can often take months and months for the process to be complete. This can be annoying, and certainly a little frustrating at one time or another.
However, when you are selling as-is, expect the process to move a lot quicker. Many buyers of these homes want to close as fast as possible, and you need to be prepared for this. Ensure you have everything in order and have your next living situation figured out.
The main reason why these sales can move so quickly is that there is no need to wait for repairs, and the buyers don’t need to take as much time with things like inspections.
Keep it clean and presentable
Just because you don’t fix up the home a ton before selling, doesn’t mean it should be a pigsty. You want to make an extra effort to keep your home as clean as possible when selling it. The cleaner home is, the more that potential buyers will be able to look past some of the upgrades or changes required.
Also, the cleaner and more presentable you keep the home, the readier you will be for showings. Selling “as is” is all about the opportunity, and you never want to miss one because you weren’t able to show a home. If your home is always tidy and taken care of, you can take on showings at a moment’s notice, and give yourself the best chance of finding a great buyer.
Know your absolute bottom price
When selling an as-is home, it is a very good idea to know your absolute bottom price. Negotiations are always important when buying and selling, and it is especially true with as-is sales. Expect to go back and forth with potential buyers until a price is agreed upon.
The last thing you want is to miss out on a potential sale by taking too long to counter, or not knowing how low you are comfortable going. Take some time to know the lowest you will accept, as this can ensure you give an instant counteroffer and have the best chance of closing the deal quickly.
In conclusion, we hope that this article has been able to help you learn what you need to know before selling a house as-is.