Are you wondering how to dispose of your unlivable house without repairing it? Selling your as-is home is a good idea for getting quick cash for your property. The number of fix and flip investors continues to increase every day.
Fix and flip investors buy houses in bad conditions for renovations and remodeling. The investors resell or rent the properties after various upgrades. With the right tips, you can skip repairs of your as-is house and resell it quickly.
Here is a complete guide for selling your as-is home without upgrading it:
Choosing a Good Cash Buyer
The buyer you choose for your as-is home matters the most. You want a buyer that will not delay purchasing your property.
Different people sell their as-is homes for various reasons, like bankruptcy, foreclosure, financial stress, and job relocation. A cash home buyer shouldn’t limit you based on your grounds to sell an as-is house. The buyer should also not subject you to repair costs. Reputable cash home buyers cater to the costs of upgrades after purchasing the property.
The buyer will also allow you to negotiate a fair sale price. Unlike the sale of regular homes, the sale price of as-is homes is below the retail value. A good cash home buyer will not require many showings for your as-is-house on sale. Exemption from many showings will save you time and money.
Work With a Realtor
The sale of as-is homes requires real estate expertise to avoid delays and other challenges in the market. A reputable real estate agent will connect you with a cash home buyer.
The agent can advise you on how to market your as-is house for a faster sale. Working with a real estate agent will make your negotiations easier. The agent can negotiate on your behalf if you lack negotiation skills.
A real estate agent will charge you a commission fee but you can negotiate with the agent to save you some cash. Do thorough research before hiring a real estate agent for the sale of your as-is home. Get recommendations from close people and other experts in the real estate market.
Ensure Proper Pricing
Exaggerating the sale price of your as-is house will turn off good cash home buyers. Every buyer expects the prices of as-is-homes to be lower than that of regular houses. Pricing your as-is home can be challenging if you decide to do it on your own. A cash home buyer will help you price the property based on its value.
The first parameter used by cash buyers to price as-is homes is comparison. A cash home buyer will compare your unlivable property with other similar properties in the market.
After repair value (ARV) is a factor used to price as-is homes. Cash home buyers estimate the property’s value after various upgrades. Other parameters used include repair costs, minimum profits, and selling costs.
The parameters enable cash home buyers to come up with property estimates. The final cash offer is agreed upon after negotiations.
Provide Property Disclosures
Honesty is key when selling your as-is house. You should disclose all major and minor issues with the property to the buyer. Doing so allows you to not worry about frustrating or losing good cash home buyers upon inspection. Failing to provide disclosures of your as-is houses can subject you to legal liabilities.
Inform the buyer about the condition of the house upfront. Such disclosures can make it easy to negotiate fair cash offers with the buyer. One way to disclose your as-is house is in the listing. Cash home buyers should be able to see the property as “as-is house” on your listing. An ”as-is house” listing will also make it easy for you to market the property to relevant people.
Sell My As-Is Home
Today, many cash home buyers are looking for unlivable properties. Selling your as-is home is the best decision if you are facing foreclosures, financial hardships, and other related challenges.
You don’t have to incur additional expenses upgrading your house before putting it up for sale. These tips will help you skip the repairs and sell your property fast.
