Today, it’s difficult selling a house in as is condition, especially those in serious need of repair. Most homeowners do not have the time or money to spend on home repairs. On top of that, spending thousands of dollars to rentomate the home may not seem like a best idea. Especially if you are planning to sell your house soon. Chances are highly unlikely that you might recover the initial costs.
How to Sell House As Is…
1. Understand what absolutely needs to be done.
Most mortgage lenders insist that the home not have structural, health, or safety issues before they will lend money to a buyer. That means if your house has code violations and you choose not to fix them, you may limit the number of potential buyers to only those who can pay cash. Be prepared for cash buyers to expect a bargain price.
2. Know that disclosures are still required.
Selling a house as is does mean “what you see is what you get,” but complete disclosure is still required by state law. That means, the buyer will get a report from a licensed home inspector outlining all your houses problems. Including problems that are not visible. When a sales contract is drawn up, the words “as is” need to be written clearly in the sales agreement. The buyer needs to initial next to the words so that they cannot later claim that they didn’t know they were buying the house as is.
3. Know what’s going on in neighborhood.
Tour as many comparable homes as possible and note their conditions and amenities. You will most likely find that kitchens and bathrooms can be deal breakers, while other home improvements don’t matter as much. Be prepare to price your house lower if it falls short on important features such as; energy efficiency, storage, kitchens, decks, patios, etc. If you hire a professional appraiser, tell them upfront that you plan on selling your house as is so you can price it appropriately.
4. Know how to respond to lowball offers.
When you sell a house as is it attracts investors, contractors, and house flippers. You will even draw attention from first time buyers without a big budgets. So, you can count on getting lowball offers. Don’t take it personally, be prepared to make a swift counter offer to any lowball offers you receive. Some buyers may be willing to meet you halfway.
5. Keep the house clean, inside and out.
You may wonder why you should bother if there are holes in the sheetrock or all the faucets leak. But cleanliness does make a difference. Keep your yard mowed and your house ready for a viewing at all times. You can schedule potential buyers for a tour before they have time to change their minds. Keep the beds made, the dishes put away, and the toys picked up. This gives the impression that you’re not selling as is due to laziness or lack of pride in your home.
Even if your house needs a boatload of repairs, selling it as is isn’t impossible. Here are a few directions you can take…
1. Renovate Home
Obviously this option costs the most money and takes the most time. However, going this route could help you sell your house faster and for more money. In today’s market, most people want a house that’s move-in ready. They’re not looking for a fixer-upper. So you’ll have a bigger pool of buyers to market to.
2. Repair Selected Items
Some properties don’t need a complete overhaul. Maybe you can get away with only repairing the most important and expensive items on the list. We’re talking about things such as the roof, electrical wiring, foundation issues, and the HVAC or plumbing systems. Making repairs to major concerns can improve the value of your property.
Major repairs like those listed above would best be handled by a professional. When hiring a contractor, make sure to verify their professional licenses and insurance. Ask for references and check them. It’s wise to get estimates from at least three contractors so you can compare pricing. Remember however, that quality is more important than cost when it comes to major repairs.
Some repairs are smaller and won’t necessarily cost you a ton of money or time. You may be able to make some of these fixes yourself. We’re talking about painting, repairing holes in walls, or replacing old light fixtures.
Hiring a home inspector is a good idea. A professional inspector can let you know what needs to be repaired, beyond what you can see, both large and small. You’ll get a list of all items that need repair or replacement. You can then make informed decisions from there.
If you decided not to hire an inspector, expect the home buyer will. They want to know exactly what they’re getting into. If there are major repairs to be made, you can be sure they will negotiate with you. Either make those repairs before closing or adjust the sale price.
3. Sell Your House As-Is
If you don’t have the time or money to make the necessary repairs, you can sell your house as is. In order to do that, you need to let buyers know about the home’s faults. They can still bring in an inspector to make an assessment as well. They will have the option of buying it exactly how it sits and making the repairs themselves.
As you would expect, you surely won’t be able to sell your house for as much as if you make the repairs yourself. And as already stated, a large number of home buyers in today’s market aren’t looking for fixer-upper projects. Most home buyers want the ‘bells and whistles.’ The buyer pool for handyman specials is extremely limited. Selling a house as is on today’s market takes patience. It could sit for months. Furthermore, getting approved for bank financing, could add several more months to the sales process.
Sell Your House to Us
With the state of the current housing market, it can easily take months or years to sell a distressed property. Here at Integrity Homebuyers we guarantee selling your house will be fast, efficient and beneficial for you and your family.
We buy houses any condition, meaning we buy all kinds of homes, including properties that need serious renovations. We help ease the burden off your shoulders, giving you peace of mind.
You no longer have to stress about what repairs are needed, which color to paint the home or which furniture is needed for staging. We can help you sell your home fast exactly how is it.
There are no fees, commissions or any additional stress with our process. Since dealing with the traditional home selling hassle may not be something you want to do, please give us a call today. Learn more about our process and how easy this will be for you.
We have our own team capable of doing home assessments. So if you have a house to sell in a hurry, just call us. You can sell your home for cash, and be on your way.
We Buy Houses in Maryland and Washington DC
