How To Sell a House AS IS?
You have a house that needs a few basic repairs. But, you don’t have the time, energy, and money to go through with them.
Ideally, you want to attract buyers that won’t have a problem buying a house that needs minor repairs.
This can be a bit overwhelming for home sellers like you. Worry not though. This article has got everything that you need to sell your house as-is.
By the end of it, you will know three things:
- How to sell a house as-is?
- How to sell a house without paying agent commissions
- How to sell a house quickly
Let’s dive in.
Meaning of As-Is in the Real Estate Market
If you are new to home selling, the term “As-is” might seem a little alien to you. An as-is sale or selling a home as-is means that you sell your house without going through extensive repairs or renovations. You might want to make a few important repairs just to make your house functional and appealing to potential buyers. It’s pretty much up to you and your financial position.
If that sounds like you, selling as-is is for you!
Must-Dos When Selling As-Is
To keep the selling process smooth, you need to take care of a few things. So, let’s talk about them first.
Provide Full Disclosure: Telling home buyers about the needed repairs or necessary upgrades may bring your house’s price down a little bit. But, it’s for your own good. Depending on a state’s disclosure laws, you can get in legal trouble later, so why take the risk, right? Now, every state might have different disclosure laws, so you want to have your agent check them before proceeding.
Use the Word “As-Is” in Your Listing: It’s a good idea to include “As-is” in your property listing, otherwise, prospective buyers might think that it’s a regular sale. Giving this important information right off the bat will help you attract the right buyers.
Consider Home Inspection: A pre-listing inspection helps make the whole process transparent. Potential buyers will have a good idea about your home’s condition before making an offer.
This also helps you filter out the right buyer for your house. So, have a professional produce an inspection report for you.
Make Necessary Repairs
While this is an optional step in selling as-is, making important repairs can have a couple of benefits:
- It helps you sell your fixer-upper in less time
- It can boost your home’s sale price
Only Make Highest-Priority Repairs: Most buyers don’t mind fixing a few things here and there. But, you don’t want to let a great deal slip out of your hands. So, it would be better to make the most important repairs before marketing your home for an as-is sale.
- Foundation damage
- Leaky faucets
- Electrical issues
- Water damage
- HVAC problems
Consider Minor Cosmetic Upgrades:
Some home improvements can help you boost your home’s worth. Even the smallest of improvements prior to home listing can make a big difference.
Here are a few simple yet impactful upgrades:
- A fresh coat
- Clean carpets
- Improved lighting (Natural light + add new light fixtures)
- Deep cleaning
- Decluttering every storage unit
These investments may seem intimidating while selling a house. But, by increasing the curb appeal of your home’s interior and exterior, you will also be boosting its monetary value.
By investing a few hundred dollars, you will be attracting more buyers, saving time, and selling your home as-is at a decent price.
Identify Your Ideal Potential Buyers
One of the first things you need to do before marketing your home is understand different types of buyers and focus on the right ones. There are essentially three types of buyers in real estate:
Flippers, as the name suggests, buy houses with the intention to sell them at a higher price. Flippers usually don’t make extensive renovations before selling them. So, if your house needs a few basic fixes, they might be a good option.
Deal hunters or bargain hunters are looking for the best price and can’t normally invest even in basic repairs. They can’t afford a new house in your local market and hunt for bargain deals. These are the types of buyers who would prefer to buy a house that’s move-in ready.
Remodelers are investors that buy a home as-is, bear its repair costs, and sell it at a higher price. However, they too, for bargain deals But, they take the burden of repairs off your shoulders, which makes them a relatively hassle-free way to sell as-is.
Marketing Your Home
you can spruce up your home all you want, but to make it sell as-is, you need to market it the right way. An experienced real estate agent can help you do exactly that. However, you do need to keep a tab on their marketing efforts. So, getting in touch with a local real estate agent can be a good idea.
Here are a few tips to market your fixer-upper the right way:
Focus on the Positives: This one is obvious but worth reminding. Think of the positives of your property and include them in your listing. Even when your house needs major repairs, highlighting the benefits can help you sell it at a fair price. For instance, show the prospects that you’ve gone through a home inspection and are willing to show the report as well.
Set a Realistic Price: According to a study, 70% of agents think that the number one mistake home sellers make is overpricing their house. While setting a higher price may seem like the right thing to do, it’s not! Especially when you want to sell your house fast. Because even if you set it too high, you most probably will have to sell it for a lower price eventually. If you don’t know how to price your home, have a real estate agent estimate its market value. They will observe the local market conditions and help you set a realistic price for your fixer-upper.
Use Keywords in Description (or ads): You can attract the right real estate investors by including relevant keywords in your listing description. These include seamless, cleaned, landscaped, and more.
Hire a Professional Photographer If Possible: A great way to attract digital eyeballs to your property listing is by uploading its eye-catching photos. Now, you can take great pictures yourself if you have a good enough camera. However, professional photography is a separate field for a reason; these guys know what they are doing. So, it would be a better idea to outsource the task to a professional, if you can afford it, of course.
Pros of Selling a House As-Is
Your buyer takes care of all the heavy repairs: In most cases, a real estate investor will take care of home repairs. Of course, a house in a good condition has a better chance of selling quickly and at the right price.
Keep selling stress-free: If you don’t want to go through the stress of making repairs, as-is selling is for you.
Decide Your Selling Strategy
You might assume that you have only one route when selling as-is. But, fortunately, you have multiple paths.
Outsource Everything to a Real Estate Agent
Working with real estate agents has its pros and cons. The benefit is that you don’t have to deal with stubborn bargain hunters and frustrating paperwork. The drawback is that home sales can be time-consuming through this route. Plus, agents have their own service charges.
If you are okay with time delays and paying commissions, just make sure that you work with someone with as-is experience.
Look for a Quick Cash Buyer
There are several reasons why this is one of the best ways to sell homes. Let’s tell you some:
- A cash offer puts more money in your pocket. This is because you are selling your home without the assistance of a real estate agent.
- Next, selling your home to cash buyers is the fastest way to sell a house.
- Lastly, there are services to help you sell for cash. Don’t worry you won’t have to pay the commission you would pay working with an agent.
If you need to sell your house as quickly as possible, without having to pay any fees, ASAP Cash Offer can help!
Even if you are still confused what’s the right path to sell your house, get on a call with our expert! We will guide you towards the fastest route! Let us do all the heavy lifting by letting us know more information about your property so we can assess the condition and current AS-IS value. ASAP Cash Offer will be able to give you a fair all-cash offer on your property simply by calling (858)302-8913 or filling out the form below.