Before you sell your home “as is,” you need to take a moment to understand what “as is” means so you can decide if it’s right for you. An as is sale means that you are selling your home in its present condition, good or bad, and that you don’t intend to make any repairs or provide any warranties. You will still have to provide state-mandated disclosures.
In a seller’s market, you have a better chance of attracting buyers who will accept your home as is due to the low supply and high demand for affordable homes. Fixer-uppers have greater success selling in a seller’s market, despite selling at a reduced price. You will likely sell your home for less when you save repair costs, but you can still enjoy some profit when you close.
An as is sale usually moves along faster because your responsibility is limited to putting the house on the market without having to do staging or obtaining pre-sale inspections.
There are probably more cons than these pros when you sell as is. The biggest negative is having to sell your home for less than market price to offset what a buyer will expect to have to remedy.
Another significant obstacle is the lack of confidence that buyers have in trusting the property disclosures in an as is sale, making it difficult to get strong selling prices. There are a limited number of buyers who are willing to buy homes in as is condition if there are a lot of repairs needed. Additionally, as an as is seller, you need to have well-honed negotiating skills because experienced house flippers will negotiate hard to get the lowest price possible.
Our experienced team has worked with all types of home sales, and we invite you to contact us so we can take you down the path of marketing that works best for you.