Selling your house brings a lot of questions. How many repairs should you make? Should you redecorate the whole property towards more neutral shades?
Beyond repairs, how do you compete with other properties? There were around 1.19 million housing units for sale in 2018. You need a way to stand out.
If your house needs a lot of work, you might decide to sell a house as-is. It’s up to the buyer to make the necessary changes.
You might worry this will limit your earning potential. Should you fix up your house before you sell instead?
Read on to learn the pros and cons of selling a house as-is.
Sell A House As Is – The Pros
Why would you sell a house as-is? What are the advantages of doing so?
#1 Let the New Buyer Take Responsibility for the House
All sellers need to disclose any information that might constitute a health hazard in the house.
Beyond this, when you sell ‘as is’, you’re telling the buyer to practice caution. You can’t lie and say there are no defects. It just means that whatever defects the buyer finds after closing becomes their problem.
#2 Save Time and Effort
Fixing up a home to sell can be time-consuming work.
If you’re unwilling to do full property renovations, there are small basics you can do that make a difference. Refresh paintwork, repair light fixtures, and re-caulk the kitchen and bathroom.
Anything bigger isn’t your responsibility.
#3 Sell More Quickly
If you’re not desperate for huge profits, selling as is means you can sometimes sell your house faster.
Companies like Cream City Home Buyers will buy your house in any condition. Simply enter your details online and close when it suits you.
Sell A House As Is – The Cons
The pros might sound like attractive reasons to sell your house as it is. What are the downsides to doing so?
#1 You May Not Get the Price You Want
If you don’t fix the house up before you sell, you can’t access the same prices other houses in your neighborhood reached. Buyers will use poor conditions to negotiate lower prices.
You can’t blame them as they’ll need to spend more money fixing up the house.
#2 It Can Take Longer to Sell
Most sellers work on the curb appeal of their home to get a good price. They might work on their staging or improving how the house looks. These houses get higher prices and sell quicker.
If you sell a house as is then a buyer may simply buy a better house in your zip code. That means your property stays on the market for long. This is why online buying services can be helpful.
Make the Right Choice for You
If your home doesn’t need too many improvements, you may sell a house as-is. The buyer can see they won’t need to spend too much on fixing it up. They’ll also get the chance to imprint their personality on the house.
You may not get a good price from buyers if your house is in a very bad condition. If this is your situation, you might consider selling using an online service.
Looking for other ways to boost your finances? Check out our blog for more ideas.