Selling an as-is house means that you sell the property in its current condition. You agree that no repairs will be made to the house and come with all its current defects and problems. To conduct an as-is sale, you must describe in your listing that there will be no concessions regarding the house’s renovation during the contingency period.
It is common for many homeowners to be under the mistaken impression that selling their home as-is exempts them from all the general obligations of selling a home. This includes selling the property for whatever price and avoiding the need to discuss or disclose any problems with the house, which is a mistake.
Selling your house as-is does not relieve you of your legal obligation to honestly answer questions about the house’s problems.
Pro #1 Little Work Beforehand
As an “as-is” seller, you also don’t have to go to the trouble of clearing out your belongings, going into an organizing frenzy, or spending time on deep cleaning. With the correct information about the condition of the house, your marketing will be no less effective. You may even be able to leave some or all of the things you no longer want, such as appliances or furniture.
Pro #2 Lower Upfront Costs When Selling a House As-Is
The most prominent reason people look to sell a house as-is is that they don’t have the funds to make further investments in the property. Home sellers save the money they would have to spend out of pocket to make costly repairs.
Pro #3 Quickly Launch Them Into the Market.
If you are trying to put a home on the market quickly, selling a home as-is allows homeowners to avoid the lengthy repair process. Making renovations can take weeks or months to be sold. When you sell it As-Is, it goes straight to the market. This is beneficial for those who have inherited a home and do not have time to fix it up.
Pro #4 It Works for Land Demolition
If the land your property sits is worth more than the house itself, it is best to sell it because there is no point in improving a house that could be demolished.
It is also possible that you are selling an old and outdated property. Any investor buying it will be more interested in tearing it down and building a better structure than renovating it.
Pro #5 Room For Negotiation
When it involves selling a house “as is,” many sellers are worried that the companies buying their house will only be interested in undercutting their offers.
However, most companies looking to buy these homes are open to negotiation. It is essential to understand that these companies are not trying to steal your home. Instead, they are looking to make an offer that is favorable to both parties.
Pro #6 Selling As-Is Attracts Cash Buyers
Many as-is sellers often end up selling the house quickly to cash buyers. Selling for cash means that the process will be much quicker, and you will be able to close the sale and have the cash in your hands as soon as you sign the sales contract. It also means that you will avoid any legal problems because the buyer assumes all liability.
Most – if not all – homes have some defect, and it is illegal for homeowners not to report it once they are aware of it. You have to inform the buyer of any defects to make an informed decision about buying the home. In many states, homeowners may even have to disclose anything found in a home inspection if one is the case.
Take this into consideration: Listing a home for sale as-is does not negate the homeowner’s responsibility to follow disclosure laws.
Selling your house as-is does not mean throwing away an investment or selling at a loss. Working with the right cash home buying company may be the right choice for you. At I Will Buy House, we ensure you sell for what the property is worth in its current condition.
Are you looking for homebuyers to sell your house fast in Lynwood, WA? We are interested in buying your home and giving you cash for it as soon as you decide to sell your home.