If you’re preparing to sell your home, you may have heard the term as is home sales. But, before you dive into this method for selling your home fast, there are a few important things you need to know.
With that said, we’re glad you stopped by. In this post, we’re going to outline some of the logistics of what it means to sell your home the way it is along with some pros and cons. Keep reading to learn more.
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What Does It Mean to Sell Your Home As Is?
Essentially, selling your home as is means that you will place it on the market without making improvements to increase the value.
Are As Is Home Sales Worth It?
There are definitely some pros and cons to contend with when making the decision to sell your home without improvement. Let’s go over some basics.
Pros
We’ll start with the benefits of not doing home improvements before you sell to help you become more comfortable with the idea.
Weed Out Less Serious Buyers
The first thing you’ll notice when you place your home on the market as is is that you will find buyers that are truly interested in your property and maybe properties like yours. They won’t be wishy-washy or un-knowledgeable about what they’re preparing to buy.
Place Your Home on the Market Faster
When mentioning to your real estate agent that you’re ‘selling my house as is’, they will be able to get it placed on the MLS faster. Buyers will see your property right away.
Less Investment on Your Part
The best part is that since you won’t be investing in costly repairs, there are less out of pocket costs to you prior to the sale of the home.
Cons
Of course, there are some drawbacks to any real estate transaction involving a home that requires repairs or other issues that you’re not prepared to deal with on your own.
Negative Assumptions
While you will find buyers that are truly interested in your property, they may have negative assumptions about what could be wrong with the property. This air of negativity could also deter some otherwise would-be buyers.
Fewer Buyers
With that said, you may find that fewer buyers are interested. But, keep in mind that the buyers that are interested will more likely be willing to try to make a deal.
More Work to Prove It’s Worth Time and Effort
However, you may have a little more work cut out for you in terms of effort required to convince buyers that your as is home is a worthwhile investment.
Low-Ball Offers
The major drawback that you will face is fielding low-ball offers from buyers that know you’re in a pinch to sell your home fast. You can expect to receive offers for anywhere from 50-70 cents on the dollar according to your home’s actual value.
Selling a Home As Is
As is home sales can be tough, but that doesn’t mean it’s not possible.
We hope you found this post helpful and informative so that you can make the right decision for your family and your future. Don’t forget to drop back by for more helpful tips about lifestyle, travel, and of course, your home. We always have something insightful to share.
