How To Sell My House As-Is Without Repairing or Fixing It Up
You would like to sell your home, but you are hesitant to make any repairs or otherwise modernize it for various reasons. You may be asking yourself several questions, such as, “How do I sell my house as-is? How do I sell house without making repairs? Do I actually want to sell my house as-is? Does it make the most sense to sell house without making repairs?”
A few of the most significant benefits enjoyed by those looking to sell house without making repairs is that those repairs can be passed on to someone else and your home likely selling more quickly. Conversely, a couple of concerns to consider is the decreased interest in your home and the offers that you do receive being lower.
Reasons To Sell My House As-Is
Most people have two main reasons why they are looking to sell house without making repairs.
One is because they do not want to put in the time commitment necessary or simply cannot put in the time that would allow those repairs to be made. Perhaps they just secured a job in another state and need to start it right away.
The other main reason is that they do not have the funds to pay for those repairs. Although some repairs may make financial sense in the big picture, if you do not have the money available to pay for those repairs, you cannot do them. In this case, the focus is simply on getting your place sold as quickly as possible.
What Does It Mean To Sell My House As-Is?
One the one hand, selling a home as-is means what you think it means. The buyer is purchasing the house in its current condition. Nothing will be fixed. No upgrades will take place. Anything that needs to be fixed and any upgrades that the buyer desires will need to be done by that person.
However, an important point to keep in mind is that the buyer must have knowledge of its condition. This is especially pivotal from a legal standpoint as it relates to your state’s list of mandatory disclosures. Not disclosing something that you should be disclosing can cause you legal difficulties.
Be Upfront About Selling My House As-Is
Another essential step that you should take is to label your listing with the phrase, “as-is.” This saves everyone’s time, including yours, as those who are not interested in an as-is sale can simply move on, and you can focus on those who are interested in this type of sale.
You should also include a pre-listing description so that prospective buyers know all of the details of your home’s condition and what they should expect when they inspect it and following a purchase of it.
Be Tough During Negotiations
Yes, you should expect to sell your home for less than you would be asking if you had not been looking to sell house without making repairs. However, you also want to be careful to not sell it for too little, and many prospective buyers will look to milk as much out of that sale price as possible.
Be especially wary of those who say things like “I am the only one who will be willing to buy a home that is in this type of condition” and “this is the only offer that you will receive, and it will expire in 12 hours.” The latter tactic, creating a stressor related to a time deadline, is a common one utilized to try to pressure others to take deals that are not advantageous to them.
Consider Some Repairs
In some cases, you may want to consider some repairs. Perhaps do not do as many as you normally would if you were selling this house normally, but some can help you increase your home’s value without as much of a time commitment.
One example is spending money on lawn care as this can increase the value of your home multiple times the cost of the lawn care. Another is paying for a paint job that utilizes neutral colors such as greys and beiges. This may increase your home’s value significantly, depending on the colors used before and if those areas were in disrepair.
Paying for a cleaning service or someone to take away badly worn furniture or other items can also result in a relatively short time commitment and low cost investment for you for a significant return.
With all of that said, do keep in mind that while these repairs are being handled, you need to also pay for other expenses in a home that you may no longer be living in, such as mortgage, insurance and utility costs, essentially doubling those costs in many cases, once for where you lived and once for where you are now.
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Necessary Repairs Before Selling a Home As-Is
Although you may just want to get your home off of your hands without doing any repairs, there are a few that may be especially worth taking care of as not doing them can drive down your home’s value considerably. These are repairs related to structural issues, deteriorated roof quality and pest infestations, especially termite infestations.
Selling by Yourself Versus Using an Agent
Should you sell your as-is home by yourself or with the assistance of an agent?
Doing it yourself is an option that offers a significant benefit of not needing to pay a real estate agent. However, you would need to spend more time finding prospective buyers and then speaking with them about what you have to offer and seeing if they may be interested.
But using an agent, particularly one with experience selling as-is homes, can save you a lot of time and effort, factors that are likely important to you since you are selling your home as-is. Plus, an agent will be well-versed in knowing how to negotiate with buyers to get you the best selling price.