While many of us love our homes, there will eventually be a time when we will want to rent them or sell them and move on. In fact, in the USA alone, there are over 5 million homes sold every year. Many future home sellers will fix up their homes before listing and selling them in order to increase the property’s value. Whether you’re moving into a smaller apartment in a new city, or just moving down the block, getting the best price for your home is very important.
However, fixing up your home before a sale can often come with a significant price tag. Sometimes, sellers just want to sell the home without making repairs and just sell the home “as is”. Unfortunately, many buyers think that homes being sold “as is” are riddled with issues or that the buyer has something to hide.
This, however, is not the case most of the time. Oftentimes sellers who sell as-is just want a quick transaction and don’t want to prolong the home sales process. Or, they simply don’t want to put anything more into the house and would rather sell it for less.
If you want to sell house as-is, this article is for you. We will go over 6 great tips to help you sell your home right the way it is.
Don’t Hide Anything From Buyers
A huge home selling mistake you can make is being dishonest with buyers. Many buyers are already skeptical about homes being sold as-is. Because of this, you need to do everything you can to calm these thoughts. Tell them everything that is wrong with the home, what might need work, and more. This goes for both in-person conversations and also in the real estate listing itself.
You don’t want any surprises during the process, so be honest from the get-go. Not only is being honest a good thing to do and can help you sell quicker, but it will also avoid potential legal trouble down the road. If you withhold or hide certain information about the home, you could face litigation if the buyer discovers something you withheld.
Be Willing to Answer Any Questions and be Flexible
In addition to telling potential buyers everything about the home, be willing to answer questions your potential buyers might have. Make sure to guide first-time homebuyers as they will likely be more curious about a lot of things, so you need to have the answers for them. They might be interested in why you’re selling as is, what parts of the home need work, etc. While you should provide a lot of this information, always be prepared for additional questions you didn’t plan ahead for.
Also, you need to be sure to be flexible throughout this process. Haggling and negotiating will almost certainly take place with an “as is” home, so be willing to move on your price. Remember, the goal of selling as-is is often to save time and sell quickly especially in the warmer months where it is said to be the best time of the year to sell a house. In order to do that, you will need to be flexible on things like price.
Have Cost Estimates for Potential Repairs
In order to ease the minds of potential buyers, it could be a good idea to have cost estimates for potential repairs. If you simply tell the buyer the repairs that need to be done, that can leave a lot of work and research for them to do. This could steer them away from your property towards one with less work or research involved.
While you will not be doing the repairs yourself, potential buyers will appreciate knowing not only what should get done, but how much it will cost. Consider asking a local contractor to provide a quote. This will also help the buyers be able to make a fair offer for the home as-is, as they will have an idea of how much they need to spend to fix it. Also, this can potentially save you as well, as many buyers will often overestimate how much a repair will cost, and will try to get you to sell for less to compensate.
Set a Price That Makes Sense
Of course, you need to be sure to price your home fairly when selling as is. You need to factor in all the potential repairs, renovations, and fixes that your buyer will be responsible for doing. While there is still room for negotiation, your initial asking price needs to reflect the condition and quality of the home.
If you try to sell the home for way more than it’s worth, you aren’t going to get any interest. Trying to scam or unfairly price your home will never be successful, and is not a good thing to do. Look at comparables in your area, subtract all the work that may need to get done, and you should be left with a relatively fair price for the home.
Consider a Real Estate Agent
While it is completely possible to sell a home on your own, selling one as is can bring about some issues that most sellers won’t want to deal with. For example, only certain people will be interested in buying an as-is home. As you could imagine, it can be hard to identify who they are. This is why you should consider a selling agent to help. Working with a good real estate agent can get your home in front of not only more people but also the right people.
In addition to helping you potentially find the right buyers, a real estate agent can help you sell and market the home more effectively. They are often great salespeople and great talkers. This means they will likely be able to sell people on the benefits of the home, without ignoring or hiding the drawbacks. This sort of thing can be tough for just anyone to do, and the agent will often find more success.
Don’t Be Scared of Making the OddRepair
While the goal of selling a house “as is” is to not have to make any repairs or changes, this isn’t always possible. Sometimes, you will be unable to sell a home if it is in a very bad state, as not many people out there are looking to buy a fixer-upper. Making a few small repairs could be the only way to get any interest in the home. Generally, a few very small and easy things can often lead to a much higher sales price.
Also, do some research to find out which issues many potential buyers hate dealing with (such as leaky pipes or structural issues), and handle those ahead of time. Sure, this will cost you a bit but may be the only way you can actually sell your home.
In conclusion, we hope that this blog post has been able to teach you a few helpful tips for selling your house as-is.