Written By The Simply Homes Team | July 15, 2022 | 4 minute read
If you have ever sold a home before, you probably know that house cleaning, repairs, and appraisals can be some of the most tedious parts of the process. This is why selling a house as-is seems like such an attractive option for many homeowners. Selling as-is gives you the option to make money quickly off of your house, even if it needs major repairs.
The condition of a residence isn’t always easy to assess at a glance. This leaves some homeowners asking if selling as-is is the right option for them. If you need to sell your house right away, but expensive repairs are holding you back, selling as-is could be the solution for you. Here are the answers to a few of the most common questions about selling a house as-is.
Savvy buyers are becoming more comfortable with the idea that buying a house as-is could be a lucrative option. While it’s possible that a house sold as-is could have hidden problems waiting to pounce on the new owner’s wallet, this is far from the norm. Many buyers realize that selling as-is is a good option for sellers to close quickly and save money. Rest assured that you can still catch the interest of buyers when you sell your house as-is.
As-is sellers do not guarantee that every part of the residence is in working order and are not required to provide a seller’s disclosure. However, they still must disclose certain conditions on the property according to state and federal regulations. This often includes safety hazards like water damage, lead paint, mold, and other environmental contaminants.
On the seller side, you have much to gain from listing your house as-is. For example, you can avoid repairs that are prohibitively expensive or time-consuming. Ramsey Solutions explains that “The average cost to sell a house is nearly 15% of its sale price—which includes agent commissions, home improvements, closing costs, and moving fees.”
If financial stressors necessitate selling your home as fast as possible, an as-is sale could get you cash when you need it most. Perhaps negotiations for your home have dragged on too long, and you simply want to close the sale promptly. Whatever your reason, an as-is sale can make the transaction faster, simpler, and less stressful so you can focus on packing and relocating.
Owning an unoccupied home is one case where the opportunity to sell as-is really stands out. If you received a property through an inheritance or otherwise become the possessor without living there, you have no real way to know what repairs are needed without a thorough inspection of the home. Listing an unoccupied home as-is provides a quick solution with almost no money or time investment on the seller’s part.
You can sell your home as-is by going the traditional route and working with a real estate agent. Alternatively, you may choose to market your residence as for sale by owner. In an agent-led transaction, your realtor will assist you with listing your home as-is on the multiple listing service. They will also make sure you provide any legally required disclosures. Real estate agents often schedule an inspection before listing so they can provide an accurate report of the home’s condition.
As-is is also an option when you list your home for sale by owner. In this case, you will be at the wheel of the transaction and responsible for making the listing yourself. You’ll have complete control and can opt to sell only to buyers without an inspection contingency in their offer. This saves you time and reaffirms that you are not responsible for any needed repairs or updates.
Your third option for an as-is sale is to get in touch with an instant cash buyer. Buyers like Simply help you accelerate your as-is sale. Many cash buyers will make an offer on your residence in a matter of days. When you request an offer from Simply, our team will review your address and let you know if it seems like a good fit in as little as 30 seconds.
Some cash buyers rely on an automated valuation model to estimate the value of your home and make the lowest offer possible. At Simply, we send a local expert to do a quick tour of your house. The expert will take a few photos and ask some basic questions about the property. This process lets us present a fair offer for your home that is close to its true market value. Get in touch with Simply today to start the process and skip the hard parts of selling your home!
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