Should You Sell a House As Is?

Although it’s ideal to repair and stage a home for sale, you can still sell a house as is. People who decide this is the best route for their real estate transactions often feel it would cost more to perform repairs than they can reasonably expect to make on the sale. Before you decide selling your home as is might be your only option, take the time to weigh your options and learn how skipping repairs will affect your home’s sale.

Before You Sell a House As Is

Even though you can sell a house as is at any time, it’s not always your best approach. Consider the variables surrounding why you’re considering selling your house this way before you make a decision. Scrutinize your motives and ask yourself:

• Am I selling as is because I don’t have time to make repairs myself?
• Do I think the only way to make a quick sale is selling as is?
• Is the local real estate market strong enough to sell my house as is?
• Will I lose money on the sale if I make necessary repairs before I list the house?

If the primary reason to sell your house as is involves the time repairs take, don’t forget you can hire contractors to handle the physical labor without you.

Expectations to Sell a House As Is

If you evaluate your reasons and still decide your best bet is to sell the house as is, setting realistic expectations is critical to a smooth real estate transactions. Buying a house as is only appeals to specific buyers. In all cases, they expect to spend less than appraised value to compensate for the time and expense of making necessary improvements.

First-time homebuyers typically prefer homes that are move-in ready, but some seasoned homebuyers are comfortable with minor repairs like paint, flooring and kitchen upgrades. If you plan to sell your house as is because of substantial structural issues, contractors and real estate flippers may be your only interested parties. A slight discount won’t appeal to this category of buyer, so prepare to slash your asking price to move the property.

Alternatives to Selling a House As Is

When you don’t want to sell a house as is, but think it’s the only way out of the property, seek a second opinion. Invite a realtor for the professional review of what work you must perform to compete in the local real estate market. Not always, but in some cases you may find the cost for preparing to list your home for sale is less than you thought. If housing prices in the area are strong enough, you may be able to make the repairs and still turn a modest profit on the sale.