Experts predict that more than 5.67 million homes will sell in the US in 2019.
Would you like yours to be one of them? Your answer might be an easy one if your home is new and in beautiful condition.
But what if your home needs a little work–or a lot of it? What if you inherited a property you don’t wish to keep but don’t want to put any money into either?
If you’re thinking of selling a house as is, there are some things you should know to make the process easier and keep your finances in order. Read on to learn how to sell as is–and walk away with plenty of cash in your pocket.
Before You Begin: Weigh the Pros & Cons
Many homeowners take a lot of time and put a lot of money into their house before placing it on the market.
Depending on your circumstances, this may not be possible. You might need to get rid of the house fast (NeedToSellMyHouseFast.com can help with that). Or you may not have the time or money to invest in fixing it up.
Whatever the case, your best bet might be to advertise the house “as is.”
This means that you (the seller) and any potential buyer are in complete agreement about the home’s current condition. You inform the buyer about any and all problems with the house, including needed repair work or structural defects.
Is this the best option for you? Much depends on the current market where you live. If you did decide to put money into fixing up your home, would you get enough return on investment to make your efforts worthwhile?
If in doubt, talk to a real estate agent in your area. They can provide valuable insight into the current housing market and how your home might fare “as is” or with some work put into it.
What if you decide that selling as is seems like the best choice for you? Here are 5 important tips to keep in mind.
1. Get a Pre-Listing Home Inspection
If your home has fallen into disarray or you’ve inherited a property you know nothing about, it’s an excellent idea to start with a pre-listing inspection.
Nobody likes surprises in the home buying and selling process. An inspection takes away all elements of surprise by letting you know exactly what’s wrong with your home.
This allows you to be completely honest when you list your home (always advised) and puts you into good shape for Step #2.
2. Make a List of Repair Estimates
So, your pre-home estimate revealed some flaws. Whether it’s a new roof, termite damage, or outdated electrical wiring, now’s your chance to get some estimates for repair work.
Yes, this is a crucial step–even if you have no intention of doing any repair work yourself. Why?
The main reason is that it allows complete transparency between you and any potential buyers. You can let them know exactly what needs to be done to the home and what they can expect to pay for the work.
Most buyers tend to overestimate the amount needed for certain repairs. If you can provide concrete figures for their consideration, you’re one step closer to a sale.
3. Consider a Few Repairs
Let’s say you list your house “as is”–and nothing happens. No one calls and no showings are scheduled. Does this mean your efforts are doomed?
Not necessarily. But if you’re located in a particularly tough market or haven’t had any luck with cash buyers, you might want to consider tackling a few repairs or upgrades.
In most cases, a home will sell as is. But if those urine-soaked floorboards or shoddy wiring are more than any buyer is willing to replace, you might be stuck doing it yourself.
You don’t have to do a major renovation of the entire house to make it saleworthy. But if there’s little or no interest “as is,” it might be worth investing a little money to yield a better sale price.
4. Cheap (Or Free) Staging Tips
A properly staged home receives offers 1%-5% higher than similar homes that aren’t staged.
Luckily, you don’t have to go out and buy designer furniture to make your home look inviting. Start with a thorough cleaning (professional if possible). Declutter and depersonalize each room and closet as much as possible to make the spaces seem larger.
If you don’t have the time or budget to repaint the whole house, consider painting one accent wall in each room. Grab a few bed-in-a-bags at a discount store to give each bedroom a fresh, cohesive feel.
Another great tip for staging on a budget? Add some nature to each room. This could be as simple as dried flowers, seashells, or some faux wheat stalks.
To ensure your house is ready on showing day, burn some cinnamon sticks or bake a fresh batch of cookies right before everyone arrives. This will mask any odors you’ve grown accustomed to!
5. Be Honest, Fair, and Flexible
Above all, selling a house as is requires you to be fair and honest with potential buyers.
If you try to inflate the price or (even worse) hide major flaws in the home, it will come back to bite you in the end. Honesty is always the best policy, so be upfront with anyone who comes to view your home.
It’s also important to be flexible and reasonable during the selling process. Remember, there are likely dozens of other homes in better condition than yours. Be prepared to negotiate your asking price or make concessions if necessary to get the home sold.
Final Thoughts on Selling a House As Is
As you can see, you don’t have to pour a lot of money into your home to sell it.
Selling a house as is is not only possible, but it could be just what potential buyers are looking for!
If you’re trying to sell your home as is, you’re probably hoping to sell it quickly. Click here for our expert tips on selling any property fast.