When preparing to sell your house, it might be daunting to consider having the property in spotless, show-ready condition particularly if you’ve been putting off a laundry list of maintenance. Instead of spending additional money before listing it, you may try to sell your as-is house.
What does it mean to sell a property in its current condition?
When a home is sold as-is, the buyer receives the property in its current state, with no extra repairs or improvements.
In general, homes advertised as-is are priced cheaper since the buyer will almost certainly have to spend more money to accomplish further work once they receive the keys to the property.
Why would someone sell their property in its current condition?
The major reasons for selling a property as-is are to save time and money.
Assume you need to move for a job and need to empty your house as soon as feasible. Hiring a contractor to execute a project can significantly delay your listing. Selling it as-is may assist speed up the process if there is adequate buyer desire and you know you’ll receive bids.
You could not have the funds to complete a project, either. When selling a property, there are already several factors to consider, and a home in disrepair may increase those prices even higher.
How to sell an as-is house?
If selling your property as-is seems like the best option for you, take these four recommendations to ensure a smooth and successful sale.
1. Bargain with your real estate agent
While it may be tempting to attempt to sell your property on your own to avoid paying commission fees to a real estate agent, you should still consider hiring a professional who has a track record of successfully assisting others in selling as-is. If you want to save money, try negotiating a commission lower than the normal 6% or working out a fee-paid agreement.
2. Be forthright and truthful in your property disclosures
Selling a property as-is does not absolve you of the need to disclose existing flaws. For example, if you are aware of a mould issue or a foundation fracture, you are required by law to notify the buyer. You might still be held accountable for problems if you misrepresent the state of the property. So, be forthright and state from the start that you will not be doing repairs.
3. Maintain as much cleanliness as feasible
You may not be able to spend on big renovations, but you may still keep your property neat. Maintain a groomed lawn and be available for viewings at all times. Keep surfaces tidy, beds made, dishes put away, and as much debris stowed and concealed as possible.
4. Consider how low you can go
Know what your lowest price will be and be prepared to make a swift counteroffer. If just a thousand or two dollars stand in the way of a contract, you may always capitulate and lower your pricing appropriately.