How to Sell Your Home As-Is
When you sell your home, you often have to make a few renovations first to entice home buyers. Maybe you need to update the kitchen, fix the broken water heater, or add a few small touches like new light fixtures and paint.
Renovations, however, can become very expensive very quickly, and not everyone has the budget (or the time) to update a house before putting it on the market.
Selling your home as is means you’re not making any upgrades before listing it, and buyers are required to take on those renovations themselves. The question you have to ask yourself is whether or not it’s worth it to sell your home as is.
Why Sell Your Home As Is?
A lack of time and money are the biggest reasons people give for selling their house as is. Even relatively minor renovations, like re-painting all the walls or replacing the flooring, can take weeks and cost thousands of dollars, and if you need to move ASAP or are tight on cash, that’s just not feasible.
The problem with selling your home as is, however, is that if your home needs extensive work, it will scare off most potential buyers. Even buyers who say they want a fixer upper usually don’t want to deal with tearing down walls, dealing with pests, or fixing a cracked foundation.
Who Buys Homes As Is?
It is possible to quickly sell your home as is, but it has to be priced right and targeted to the right buyer.
The average home buyer either wants a move in-ready home or a home that just needs light cosmetic upgrades, and even a low listing price won’t convince them to take a chance on something that needs major work. But “as is home buyers” are typically contractors or home flippers who are looking specifically for these types of homes.
Contractors have the know-how to fix even the biggest problems, and they have a good idea how much it will cost, as well. And home flippers are just looking for a home they can buy, renovate, and re-sell, so it’s in their best interest to find an inexpensive home that needs a lot of work.
What Are Your Options?
When you decide on selling your home as is, the first thing to do is discuss your situation with a real estate agent. Tell them that you’re not willing or able to renovate your home before listing it, and they will help you decide on a fair asking price.
Another option is to avoid putting it on the market altogether and sell it directly to a home investment company. These companies are real estate offices, like STL Real Estate, that buy homes for cash and then re-sell them. This saves you both time and money, since you can receive a cash offer quickly and don’t have to worry about listing your home on the market or dealing with negotiations.
Regardless of why you’re looking to sell your home as is, there’s a buyer out there for you. Be sure to talk to your local real estate agent about either putting your home on the market for a fair price or selling your house as is to an investment company, and you’ll be able to sell your house in no time.