As soon as you think of selling your home, you start looking at your property in a different light. The cracks in the wall seem to jump out at you all of a sudden, the faulty window becomes more annoying than before, and the paint beings to look even duller. Before you’ve even listed your house, you are likely to get bogged down by the daunting task of having to give your house a makeover to appeal to good buyers. But what if selling a house as is was an option?
Simply put, selling a house as is means selling the property in its current state with no repairs or renovations. Your buyer will enter into a sale agreement with the understanding that the house will come with any and all faults or issues that are currently present.
However, this does not mean that the homeowners should actively hide any issues in their home during the process of the sale. In most states, there are legal obligations when you sell your house as is. Homeowners are required to disclose information regarding any existing problems with the home before the sale is finalized.
Homeowners or real estate agents will have to disclose the following to potential buyers;
Before the sale is confirmed, buyers will be required to sign an agreement clarifying the terms of the transaction. This usually includes stating that they are aware of the issues with the house they are buying, and understand that no work will be done to fix them prior to the sale.
The idea that someone would be willing to put money on a house that comes with faults seems almost too good to be true, right? Well, not necessarily. Just as selling a house as is comes with its own advantages, so does buying a house as is.
Many buyers may be looking to invest, or looking for a fixer-upper opportunity where they can buy your house, renovate and sell it for a higher price. This is called flipping a house. So the lowered price point will actually be a plus point for them.
Selling your house as is means you will probably have to settle for a lower sales price. Then why should you do it at all, right? Well, there are some definite advantages to selling your property as is. We’ve listed 5 of the biggest advantages you get when you sell your house in its current condition.
Who doesn’t love the idea of making a sale as fast as possible? Selling as is means you can jump straight to the sale. In contrast, home improvements not only cost money – they also take a significant amount of time. Skipping over that step not only saves you money, it also speeds things up!
Let’s be real – selling a house is always stressful. But if you sell your house as it is, you’ll be slightly less stressed. This is because you will not need to worry about elaborate home improvements and carefully staged rooms, which can be quite stressful to pull of.
Many companies and buyers will be willing to buy your house for cash. This process is faster, cheaper for you because you don’t need to worry about realtor fees, and also means you get paid sooner.
Just because you’re selling your house as is, doesn’t mean you won’t need to follow any protocol before you sell. Here are a few things to keep in mind that will give you the most out of your home sale.
It’s a good idea to get a professional inspection done before you list your house on the market since you will be required to disclose information about its condition. This inspection will help you get a good idea of what’s wrong with your home so you can be truly honest with your buyers.
Even though you won’t be the one making those repairs, it can benefit you to know how much it would all cost. When you’re in talks with a potential buyer, you will be able to let them know how much they can expect to spend on repairs. This will add to how much they trust you, and may lead to them choosing your house over other options.
Just because you’re not repairing the faults doesn’t mean that you shouldn’t pay attention to the state of your house. Make sure that it’s tidy, clean, and welcoming – no matter the faults.
Nothing ever comes easy. If you’re skipping the hassle of renovations, you will most likely have to compromise in some other areas. This most likely means having to settle for a lower sales price than you would have initially demanded. Be ready to adjust your expectations if you want an easy experience.
If you want to make your life even simpler, there are many reliable ways to sell your house for cash. Companies like MB Solutions have easy, quick steps to selling a house as is, so that you won’t have to go through the hassle on your own; instead, you can focus on moving out and moving on.