Generally, the goal of selling a residential property has to do with earning the most income possible. After all, you’re disposing off your home, so you’ll need some cash in exchange. This is quite doable with the right amount of patience, hard work, determination, and the proper techniques. By adopting the correct strategy, you should be able to make good money from your house sale.
But, this isn’t always the case. Sometimes, you have to get it over with, especially when you’re pressed for time. Getting over with the sale quickly is also one of the best ways to move on with life. Hence, you’ve got to be willing to make some adjustments to get through this process of selling your house in its given condition.
If you’re headed in this direction, keep reading. Here you’ll find nothing short of the best tips on how to sell a house as-is.
But First, What Does It Mean To Sell A House As-Is?
This means that the buyer is willing to accept the property despite its current state, with all its flaws, negative points, and defects. For your part as the seller, this means that you wouldn’t have to invest in any repairs during the pre-selling period.
In this kind of agreement, there’s a document that explicitly states in the affirmative that the buyer is taking the house in its present condition. Hence, no repairs can ever be demanded by the buyer in this case.
In turn, the seller must also run buyers through the entire house and expose all flaws. These are disclosures that will have to be made. Else, the buyer will have the right to back out of the sale should they discover that the house has hidden defects which were not disclosed by the seller.
That said, here are the tips on how to sell the house as-is:
1. Sell To A We-Buy-Houses Company
If you’ve never heard of a We-Buy-Houses company before, these are in the business of buying houses as-is. By this, it means that these companies, such as Fair Cash Deal, no longer require the seller to make any renovations or necessary changes to the home. They take the house as it is, defects and all. Then, these companies pay for the purchase price of the house in full through cash or check.
We-Buy-Houses Companies flip the house, or renovate it, and sell it later on for a much higher price. It’s their business model and that is how they earn a profit.
When the clock is ticking, or you’ve got to make a quick sale, this is one of the best routes for you to take. There are fewer documents to go through, you don’t need to make any renovations, and you’re also going to get paid fast. Apart from these, selling your home to a We-Buy-Houses company will also give you the following benefits:
- It’s one of the fastest ways to sell off your residential property
- It enables you to sell the house for any reason
- It’s quick and hassle-free, as you won’t need to go through a real estate agent or any middleman
2. Obtain A Pre-Listing Inspection
If you choose to sell to buyers other than a We-Buy-Houses company, then one of the first steps for you to undergo is to obtain a pre-listing inspection. Here, it’s necessary for you to learn about the conditions of the house, which you must disclose, even way before you put the house up for sale.
With a pre-listing inspection, you’re able to identify everything that is wrong with your house in the eyes of potential buyers. Due to this, you’re also more honest with all of your potential buyers, come selling period. You don’t run the risk of missing out on important information about certain defects that you should’ve disclosed.
Some of this information that you’re required to disclose includes the following:
- Title disputes or other legal issues surrounding your sale
- Evidence of structural defects
- Major electrical issues
- Termite damage
- Roofing problems
3. Improve With Small Renovations
Just because you’re selling your house as-is, it doesn’t mean that you’re going to present it in a very worn-out state. It pays to do small renovations here and there that are also set to raise the market price and selling potential of your home even more. By “small renovations,” it means these are qualified as those that won’t go beyond 100 US dollars for you to complete.
Examples of these small renovations include the following:
- Spend an afternoon or two mowing your grass and cutting long plants
- Re-fertilize your lawn
- Paint some areas of the house in neutral colors, especially kids rooms, for instance, that are in bright colors
With these, you’re making your home more inviting to potential buyers, even when you’re selling as it is.
4. Get Estimates For Necessary Repairs
Even when you’re not going to undertake any repair work on your house, it is still advisable for you to obtain, in advance, an estimate for possible repairs that need to be done. Doing this is an extra action that puts you in a better position with your potential buyers, as it shows that you’re very serious about being transparent with them.
When you show potential buyers around your home, they may also wonder how much it might cost them to manage the repairs. When you save them the hassle of computing this themselves, you’re also increasing the potential of your home getting sold fast.
Selling houses as-is can be a standard route taken by people that are faced with financial hardships or time constraints. When you don’t have all the time in the world to put in the effort you can in selling your home, then you have to just let it be. Selling your house as it is can be quite a convenient route, too. With the tips enumerated above, now you’ve got the best advice on how to go about the sale in the most stress-free and profitable manner possible.