How to Sell A House As Is
If you’re preparing to put your house on the market, you’re probably wondering about all of your different options. You can use a real estate agent or sell the house yourself (usually referred to as for sale by owner). Whichever you choose, you have another important choice to make: do you want to sell your house as is or make repairs and updates before putting your house on the market?
Getting a house ready for the real estate market can be challenging. There’s painting, deep cleaning, yard maintenance and repairing all of the little dings and scuffs that come with everyday life. This takes time and costs some money, but you’ll sell the house for more so it’s worth in the long run, right?
If you enjoy doing projects around the house and have the time and money to spend on it, going the traditional route is likely to work for you. But if you’re already dreading the process or don’t have the time or money to invest, you might want to sell your house as is.
Here at Florida Cash Offer, we have created a guide to help you decide which is best for you, selling your house as is or doing some repairs before going to market. The guide will also let you know what you expect as you sell your house as is.
Assess the Situation: Are You Ready to Sell Your House As Is?
Take a good look at your home and your property. What repairs really need to be done to the home? Put yourself in the shoes of a home buyer when you do this. Are the kitchen appliances in good working order, but not exactly modern? Do any of the carpets or wood flooring need work? Take all of the repairs into account, not just the ones that are absolutely necessary. Make a visit to a home improvement store, like Home Depot and make a home repair plan & budget so you have an idea of how much time and money your potential buyer will be spending.
In all likelihood, there are two kinds of people who will buy a house as is. Some buyers want to put in the work to make the house their own. Others will make the repairs and then sell the house. Either way, these people are going to be doing the “cosmetic” repairs that aren’t 100% necessary. They’re going to factor this in when they decide on the price of the house, so you should too.
Be Honest When You Decide to Sell Your House As Is
First, be honest with yourself. It’s easy to get attached to the home you’ve been living in for some time. In fact, the little dings that might need to be patched up can make a house feel more comfortable. Try to step back and look at your house with fresh eyes, the way an outsider will see it. Especially an outsider who is about to spend thousands of dollars to purchase it. The sooner you can look at your house the same way potential buyers will look at it, the better.
Next, be honest with your potential buyers. It’s best to be upfront about any potential issues with the house, especially liens and code violations. These things will come out eventually, so it’s better to let the people you’re working with know that you are honest and forthcoming.
To Sell A House As Is, Market It to the Right People
When you’re selling your house as is, you’re marketing to a different group of people. A real estate agent can help but might insist that you make repairs before going to market. If you find an agent who’s happy to help sell your house as is, he or she is probably familiar with the strategy and can be very helpful. If you can’t find an agent that is a good fit, don’t worry! You can still sell the house on your own. And as an added bonus, you won’t have to pay the usual realtor fees.
The important thing here is to find a buyer who will want to buy your home and make the repairs. You can find a couple who enjoys this kind of project, or you can sell to a company like Florida Cash Offer. We buy houses that need work, remodel them, and then sell them. We take pride in the work we do in our community on housing projects big and small.
Be Wary of Banks and Lenders When Trying to Sell A House As Is
Don’t get the wrong idea – we aren’t telling you to keep all of your cash under your mattress or invest your savings in bitcoin. What we’re saying here is to be careful when selling your house to someone who’s depending on a loan. It’s probably best to find a buyer who has the cash to buy your house up front.
The reason for this is pretty simple: you want to sell your house quickly with no hassles, right? Well, waiting for a bank loan to go through can be a real waste of time. Sometimes lenders mistakenly pre-approve people for too much. This is usually due to small details being left out or small clerical errors.
What happens more often is that most lenders won’t approve a loan for more than what the house is worth. This means that once an appraiser comes in and gives the home a certain value, which has to happen in order to get a home mortgage loan, it’s tough to get a loan for more than that amount. Since you’re selling your house as is, your potential buyers might be counting on a portion of their loan to cover the cost of repairs and updates. For this reason, it’s best to sell your house to someone who has a more reliable source of funding.
Decide What’s Best For You: Sell Your House As Is or Make Improvements First?
Deciding when and how to sell your house can take some deep thought. It’s never easy when faced with such big choices. Take your time, think about all of your options, and choose the route that you’re most comfortable with. In the end, no one knows what’s best for you and your family like you do.