If you’re selling a house as is, we can assume that you’re at a financial or emotional point where holding on to it for any longer just doesn’t make sense. However, even if you’re ready to pack up your things and move on, this doesn’t mean you have to undersell your home to the first buyer! Learning how to sell a house as is is important.
Oftentimes, as is sellers are leaving a lot of money on the table when they don’t know how to properly sell or market their home. We’re here to help. Read on to learn how to sell a house as is with little stress and with more money in the bank!
What Does Selling “As Is” Mean?
Selling “as is” isn’t as cut and dry as it may seem. That’s because people have different definitions and perspectives of what an “as is” house looks like. For some, this means doing absolutely no upgrades or renovations to the home. Essentially, you’re moving your things out and then handing over the key to the buyer.
Even though you’re selling the home with all its flaws, this doesn’t mean the buyer is responsible for discovering all these flaws after the sale takes place. “As is” typically has a legal definition in most states that ensures there’s a purchase agreement that discloses the condition of the home.
This protects the seller from making uninformed purchasing decisions and also enables them to cancel the sale if a home inspection reveals poorer conditions than expected.
You don’t need to market your home with “as is” in the description – this will enable you to cater to a wider pool of buyers. However, you’ll need to be upfront and honest about the condition of the home before the home inspection takes place.
Here are a few problems that you or your realtor are required to disclose:
- Structural defects
- Any appearance of mold
- Termite damage
- Damaged roof
- Electrical issues
- Heating system problems
- Fire or smoke damage
- Underground oil tanks
- Home located in a flood zone
- Asbestos insulation or building materials
- High radon levels
- Any legal issues, such as title disputes
You or your realtor will usually need to fill out a Sellers Statement of Property Condition. As long as you provide the most accurate information to the best of your knowledge, you won’t run into any legal issues while selling your home. Intentionally hiding any major issues is what will lead to serious legal action – it isn’t worth it!
How to Sell a House As Is
Once you have an accurate idea of all your home’s major problems, here are a few tips to help you market your home.
If you want to have the most amount of buyers possible considering your home, you’ll need to ensure that there aren’t any code violations such as structural, health, or safety issues – mortgage lenders insist on it. If you don’t have the cash or motivation to make these repairs, your pool of buyers may be limited to cash buyers that are looking for a large bargain.
Know the Competition
If you’re not selling with the aid of a realtor, you’ll need to be aware of your competition in the area. Tour or look up comparable homes online and note the condition they’re in and the amenities they offer. Maybe you’ll find that feature updated kitchens and bathrooms, while other repairs or upgrades aren’t prioritized.
For instance, if the majority of comparable homes in your area have upgraded kitchens but yours does not, you can logically assume you’ll need to price your house lower. Hiring a knowledgeable realtor or appraiser will help you make these decisions.
Keep the Clutter Down
Even if you’re not going to make any major repairs or upgrades to the home, keeping it clean and tidy allows you to showcase it to potential buyers to its utmost potential. It’s recommended to hire some reputable professional cleaners, especially if you’re about to do showings. Here are a few more recommendations:
- Remove fridge magnets
- Take down personal photos
- Tackle piles of mail and documents
- Hide pet toys or children’s toys
- Make the beds
- Keep all table and counter surfaces clean
- Clean mirrors and windows
- Rearrange furniture if needed
You’ll essentially want to make your home appear as magazine-worthy as possible. Ask your realtor, friends, or family for their honest perception of your home when you’re finished cleaning, as it can be hard to see our homes from an objective standpoint.
Remember that this is probably one of the most difficult steps of selling your home, but it’s worth the elbow grease!
Selling the Far-From-Perfect Home the Right Way
Learning how to sell a house as is can be similar to selling any other property. Although you’ll be looking at offers that are lower than if you did some upgrades and renovations, you’ll get the maximum amount possible if you do some preparation beforehand and know what to expect.
Ready to sell your property fast and for a fair price? Florida Cash Home Buyers guarantees to find the best offer for you, even if it’s not with us. You can even receive up to $50,000 cash advance before closing.
Contact us today to get an offer within 24 hours!