Did you know that in 2019 there were 5.34 million existing homes sold and 682,000 newly constructed homes sold in the U.S.?
Demand for properties is high, which is why it’s a great time to sell yours. But if you don’t have a budget to do it up, you can either wait and save up or simply sell it now. Keep reading to discover our 4 tips for selling a property as-is.
What Does Selling a Property As-Is Mean?
Whether you want money quickly from the sale of your house or you just want to move away from your area quickly, selling your property as-is is a great way to achieve both of these. Selling a property as-is means that the property will be sold in its current state. This means that no repairs or upgrades will be made before the home is put on the market and sold.
When you’re selling a house, this can sometimes put buyers off from purchasing your home. Often because they don’t want to pay the extra costs or lose time fixing it. However, some buyers prefer buying a home as-is.
Here are our top 4 tips for selling your home as-is:
1. Get a Pre-Listing Inspection
Before you take your property to a real estate company, it’s a good idea to have the condition of the property evaluated. This is especially a good thing to do if you didn’t live in the property before (e.g. if you inherited it).
A pre-listing inspection will help you understand the condition of the house, which will enable you to determine a ballpark figure of the property’s value. The pre-listing inspection can also be disclosed to potential buyers, so they know what condition the property is in.
2. Have Estimates
One of the most useful real estate tips when it comes to selling a property as-is is to have estimates priced up on the repairs. Get experts to give you estimate prices of how much the damages would cost to fix. Often buyers aren’t sure how much it will cost and might try to knock more money off the sale price if they think the repairs will cost them more.
3. Think About Repairs
Selling your property as-is may be what you want to do to save money. But if the property doesn’t sell because of the repairs then you’ll only lose time and money. Ask your agent about which repairs might help the property sell faster and if they think it’s worth doing.
4. Be Honest
Be honest with buyers about the condition of the property. Don’t leave the details out of the marketing material or listing details, because they’ll find out about the repairs needed and any damages soon enough.
And when you do sell your home and purchase a new one, be sure to take out the relevant homeowner’s insurance coverages that you need.
Sell Your House Without Complication or Delay
Follow our tips on selling a property as-is to keep things simple and sell your house without delay. Remember to clearly communicate with potential buyers about the property and if you’re not sure about making some repairs, ask your real estate agent.
Don’t forget to check out some of our other real estate and home improvement articles.
