Did you know that it can take 45 days to buy a property? For many people, equity in their homes needs to be released much quicker. But do you know how to do that with an as-is sale?
As is means selling the house without any repairs, often to a cash buyer. Read on as we discuss how to sell a house as-is.
When to Consider Selling a House As-Is
Selling a home as-is can be a great choice. It allows you to have a quick sale and get the money in your pocket as fast as possible. It also means you do not have to pay or spend time on costly and time-consuming repairs.
The downside is you will get less for the house. Considering this, it works best for people who want equity in their homes quickly.
Benefits of Selling As-Is
When you are selling a house as is, it is probable that most buyers will pay in cash. This cuts out the mortgage approval process. This makes the sale more reliable and much quicker than other traditional sales.
In addition, you do not need to do repairs to the home. When people buy as is, they are usually aiming to buy cheaply, repair the property and sell for a profit. As such, you can save time and money by waiting for workmen to do jobs before you list.
Downsides to Selling As-Is
When you sell as-is, you are often limiting yourself in the pool of buyers. As most banks will not lend for homes that need repairs, it excludes many potential buyers. However, if you can not find a cash buyer or property investor, companies that advertise as we buy homes are easy options for a safe, secure offer.
Of course, as the home needs repairs, you will get less money. However, you also do not need to pay estate agent fees and repair costs, so in some cases, the difference may not be that much.
How to Sell a House As-Is
The first step is to spend a little money on a home inspection. This way, you can clearly disclose the problems in the property, cutting down now wasted time later.
Start by creating a listing that clearly states the home is for sale as is. This shows that you will not be making any repairs to the home, and this should be reflected in people’s offers.
This does not mean the buyer will not have their own home inspection. In fact, they may even back out and have the right to do so. You may even find that people still demand some repairs unless you have gone with a lone buyer instead of a home buying company.
Finding a Buyer
Now you know how to sell a house as-is, you just need to find a buyer. Check online for cash buying companies in the local area or consult a real estate agent about your property.
If this article helped you in your home sale, then visit the rest of our blog. We have everything from the world of property and finance to help you out in the coming year.
