It can be challenging to sell a house with major issues, but it’s not impossible. Listing your home as-is can help you avoid the hassle and expense of making repairs. While some buyers won’t consider houses with that label, others are drawn to properties that need a little TLC.
What Does It Mean to Sell a House ‘As-Is?’
When a property is sold as-is, it means that it’s being offered in its current condition. It might have significant problems, but the seller has chosen not to make repairs before putting the house on the market.
A prospective buyer can have the house inspected and might request repairs. The seller can agree to a buyer’s request, decline to make repairs, or negotiate the price.
Why Might You Decide to Sell Your Home As-Is?
There are several reasons why you might prefer to list your house with serious problems instead of making repairs. Maybe money is tight because of a job loss or medical bills, and you simply can’t afford to fix up the house. Perhaps your family must relocate so you or your spouse can start a new job, and you don’t have weeks or months to make repairs. If your goal is simply to get the house off your hands as soon as possible, selling it as-is might be your best option.
What Are the Downsides of Selling a House As-Is?
Most buyers are looking for a home that they can quickly move into. While many people are willing to make minor repairs, buyers generally don’t want to purchase a house with a serious issue, such as a leaky roof.
A lot of buyers won’t even consider a house that’s listed “as-is.” That’s not to say that you won’t be able to sell your home if it has problems, but you’ll have a limited pool of potential buyers, and you won’t get top dollar. Your property will be more likely to appeal to flippers, real estate investors, and others who are looking for fixer-uppers.
How Can You Successfully Sell a Property As-Is?
If you choose to list your home as-is, it’s important to communicate openly and honestly about its condition. You will have to adhere to disclosure laws and alert potential buyers to issues.
Be sure to highlight the positives. Even if your house has problems, it probably also has features that can work in its favor, such as a large yard or a convenient location.
Talk to Your Agent
Your real estate agent can give you advice on how to sell your home and help you set a fair price. Your agent might recommend selling the house as-is or might advise you to make some minor, inexpensive repairs to make the property more appealing to buyers.
