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Sometimes it isn't possible to make the repairs needed to secure the most money from your sale. This is when you need to know how to sell a house as is.
How to Sell a House as Is
Why you want to sell a house as is
Labelling a house as being sold "as is" warns potential buyers that they will have to make any repairs needed on the home. This benefits you because it attracts buyers who are willing to take on the cost of the work needed in the home. It also eliminates the disappointment a buyer would have if they stepped into a home expecting it to be turnkey and question your idea of house maintenance or feel they are dealing with someone dishonest.
You may need to sell your home as is if you don't have the money to complete all the repairs needed on the home or if you are forced to sell in a hurry. There are some things that can be wrong with a home like termite damage and mold that make it illegal for you to sell your home without repairing it or selling it as is.
What selling a house as is is not
Many people assume that selling a house as is is easier and more hassle-free than otherwise. This is not true. The only difference in selling a house as is versus normal selling is that you have not repaired the home and do not promise to do so. The buyer may have to sign paperwork proving that they have inspected the home and that they agree to the worth of the house as it is.
Selling a house as is can lessen some of the stress of selling the house because you don't have to deal with the repairs and it can reduce the time it takes you to put the house on the market, but the rest of the process is the same.
The steps to sell a house as is
House sold as is inspection
In order to determine if your house needs to be labelled "as is," meaning it has such significant problems with it that the buyer must be warned, and to accurately disclose what is wrong with the house, you will have to have the home inspected. Buyers going into an as is sale will want to know exactly what is wrong with the home since they will be responsible for fixing it.
You can save yourself a lot of haggling and sell your home as is quickly by getting estimates on the repairs needed to fix what is discovered in the inspection. If buyers are worried about the expense of the repairs or try to tell you they know the repairs will be dauntingly costly, you can be prepared with estimates of your own to help both you and the buyer understand the value of the home.
Deduct the cost of repairs from the price of the home
The estimates will also help you price the home correctly. Value the home based on all other home pricing considerations and then deduct the cost of repairs to find the right price for your home. You may still have to be flexible to sell the home to meet buyer's expectations and needs. Consider how quickly you want to sell the home and whether you need to lower the price more than you originally calculated to get it off your hands.
Ask a real estate agent for advice to increase the chances of selling a house as is quickly and for as much money as you can.
Written by Missy Banks of AgentBecky.com and Allen Tate Realtors. Missy is a full time real estate professional and a top relator with Allen Tate and the Charlotte area. AgentBecky.com is a user friendly real estate search tool with update MLS listings.
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