Doing some repairs before selling a home can make it more attractive to buyers. It can also increase the selling price. But what about selling a home as-is?
When you sell a home as-is, it means you won’t do any repairs before selling. It also means you won’t reimburse the buyer for any repairs they perform. This arrangement can benefit both buyer and seller under the right circumstances.
Sellers should think hard before listing a house for an as-is sale. It can have advantages, but it may come with some downside as well. The following are some of the pros and cons to consider before selling a home as-is.
Sellers might need to go with an as-is sale if they are in a hurry. An as-is sale is often faster than doing the repairs. Instead of taking the time to repair the home, you can skip right to listing the property. This can lead to a quicker sale as long as you find a buyer.
Home repairs can be expensive. Selling as is can be a way to avoid paying for the repairs. With that said, it does not mean you are off the hook entirely. The buyer may expect the price to reflect the condition of the home and ask for repairs after they do their inspections.
Beyond the cost, repairs can be a significant burden. Many sellers might not want to deal with the stress even if they have the money. This can make selling a home as-is a good option if the seller is looking for a clean break.
Selling a home as-is can influence buyer perception. Many will assume the house has serious problems even if the issues are minor. Some people won’t even consider looking at a house with an as-is listing.
You won’t have to pay for the repairs, but the as-is condition will lower the price. Some buyers will probably try to offer less, assuming you are in a hurry to sell. There is a good chance you will have to deal with a lot of below-market offers if you sell as-is. That said, if the market is hot like it is today, it may not matter.
As-is homes tend to appeal to one segment of the market. That means the designation can limit your field of potential buyers. You might get fewer offers as a result of the home being listed as-is.
Borrouso Realty can help you navigate the process of selling a home as-is. We understand the issues that come with as-is sales. Get in touch with our team to learn more about how we can help.
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