Many homeowners are tempted to sell their home as is. This is when you sell the property without making any updates, repairs, changes, etc. Buyers purchase exactly what they see. Often, sellers want to sell their home this way to prevent spending any additional money and buyers look at this as a budget-friendly purchase.
However, before you decide to sell your house as is, there are many factors you must consider. Let’s talk about several of them.
You’ll Receive Less Money
When selling your home as is, you can expect significantly less on the transaction than if you put in the time and money to make the repairs. These repairs and upgrades can increase your home’s value, causing you to earn more money. Buyers are also more likely to provide a competitive offer for a house that is well kept and includes desirable upgrades, compared to one with little care.
Your Listing is More Appealing to Buyers
Many buyers are looking for a property that is move-in ready. They often don’t want a large to-do list before they settle into the home. When selling your home as is, there will likely be a long list of tasks that will need to be completed in a short period of time. However, for investors or individuals looking to flip the home, this may not be a problem.
You May Receive Fewer Offers
Not only will your listing not be as appealing to buyers when you sell your home as is, but fewer individuals may qualify to purchase the home. Some mortgage lenders may not approve certain buyers for fixer-upper properties. This means that you have narrowed down the number of people who can purchase your home, ultimately making it more difficult to sell.
How to Sell Your House As Is
In your specific situation, it may make more sense to sell your house as is. If so, you will want to work closely with your real estate agent. This expert can help you set a realistic sale price for your property and let you know what to expect during the selling process. You may also have to fill out a disclosure form to alert the buyers of potential issues in the home. Again, your agent can walk you through this process.
If you are ready to sell your home as is, or you want to make several home improvement repairs, contact real estate agent Martin MacFarlane today. He can answer your questions and help you have a smooth real estate transaction.