Whether you’re operating on a tight timeline or simply trying to avoid extensive home repairs or upgrades, there are several things sellers should consider before listing their home as-is.
Selling a home “as-is” means selling it in its current state, regardless of any faults or issues with the property. Often, the buyer will be required to sign paperwork as part of the sale acknowledging that they fully understand the terms of the sale.
While selling as-is does alleviate the pressure of having to make potentially costly repairs to the property, it does not exempt the seller from having to disclose issues with the property. Sellers are still obligated to answer questions about the home honestly.
Additionally, while expediency may be one factor that makes selling your home as-is a tempting option, there are some potential downsides to consider.
For buyers, a home listed for sale as-is may imply that there are issues with the property that are either costly to fix or cannot be fixed at all. Even buyers interested in the home may deliberately keep their offers low, operating on the assumption that your need or desire to sell the property could make you willing to accept offers well below the value of the home.
Whether you decide to sell as-is or not, it’s important to talk to a qualified real estate agent who can help you determine what kind of repairs a potential buyer may request and what to price your home at when you list it. While you may think that there are no improvements you can make, an agent can help you determine what kinds of fixes or improvements could be easy to accomplish, both time-wise and financially, but still yield you the best results.