If the thought of all the necessary repairs and renovations needed to make your home marketable feels daunting, but the idea of selling is becoming more and more appealing, good news—there’s an option you may not have considered, and it’s called selling “as is.” It means exactly what it sounds like: you put your home on the market in its current state, someone on the hunt for the perfect fixer-upper buys it, and everything from that plumbing issue to those cracked tiles to the leaking roof becomes her responsibility.
You’ll save the time, effort and resources required to give the property a makeover, but at the end of the day, will it result in more money in your pocket? If not, will the time you saved make that fact worthwhile? The only way to proceed in a strategic fashion is to consult with an experienced real estate agent who is accustomed to helping clients evaluate the pros and cons of all the selling as is, but the basics below should also prove helpful along the way.
You Won’t be Getting Top Dollar for Your Home.
If you’re planning on selling your property as is, it’s likely that you shouldn’t base your sale price expectations on the neighborhood comps you’ve been reviewing. To fully understand just how much money you’d be leaving on the table by selling as is, work with an experienced real estate agent.
You Also Don’t Need to Invest Any Additional Funds.
If you don’t have the means to renovate your home, selling as is alleviates that burden. No need to update appliances, repaint, invest in staging, or complete a list of repairs. When you sell your home as is, buyers understand that they will be the one investing their own time and money into repairs. Your home sale should be making you money, not costing you money.
You’ll Narrow the Pool of Potential Buyers.
This one tends to be less of an issue when the market is hot, but still: fewer buyers will be clamoring to buy your home if the purchase means they’ll have to put in work. That’s why it pays to work with a well-connected real estate agent, with a proven track record of finding buyers—and negotiating favorable prices—for as is listings.
You’ll Save a lot of Time.
The more valuable your own time, the more sense selling as is makes. After all, when it comes to home renovations, a lot of planning, decision-making and coordination is required. Depending on how much work your house needs, it might well be that it’s in your best interest to sell as is and skip out on all that legwork.
You May be Able to Sell Faster.
Particularly with the right pricing strategy, you’re very likely to sell your home faster as is—this is yet another instance where working with a seasoned real estate professional ensures an easier decision-making process, and ultimately, a sale that exceeds all your expectations.
If you have more questions about the pros, cons, and legal ramifications of selling your home “as is”, then talk to a real estate agent. Reach out and we’ll connect you with an experienced professional who can help you create a selling strategy to fit your budget, needs, and timeline.