Why Should I Sell My House As-Is
There is any number of circumstances that may require a home owner to sell their home in a hurry, or with as little cash outlay as possible. In these situations, you may need to consider selling your house as-is. The reasons behind this are myriad – you might not have the ability to afford
any improvements to your house, or you’ve already moved to another property and you don’t have the ability to arrange for and oversee repairs. Whatever the reasons are, there are some things that you’ll need to do in order to sell a house as-is.
Meet the Minimum Requirements for a Sale
When it comes to mortgage lenders, most of them will not sign off on a home loan for a buyer unless the property they’re interested in buying meets a bare minimum of health, safety or structural requirements. If the property you want to sell as-is has a large number of code violations – and you can’t afford to or would simply rather not repair or fix these violations – you’re going to have fewer buyers that can swing the purchase. Even if you lower the price of your house accordingly, you’re going to be mostly limited to buyers that can pay in cash.
You’ll Still Have to Disclose Any Defects
It’s true that homes sold as-is absolve you of any requirements to put time and money into repairs. However, you’re still bound by state law to disclose each and every one of your house’s defects whether or not they’re visible to a seller. A full list of what’s wrong with the property needs to be made known to the buyer so that there are no legal repercussions for you, and it takes more than simply ensuring that the word “as-is” appears on all necessary documents.
Keep an Eye on the Competition
If you’re selling your house as-is, you’re going to have to know what type of houses out there in your neighborhood are competing for a prospective buyer’s money. There are some home improvements that will not trouble buyers as much as others, but when it comes to major problems with condition or a lack of amenities you can sink your chances of getting a decent price on your property. One of the biggest deal-breakers tends to be a kitchen or a bathroom in excessively bad repair. If you’re trying to offload a house with such issues, you’re going to have to set your price low enough so that a buyer feels he or she can invest in renovating or repairing these problem areas without breaking the bank.
Prepare Yourself for Lowball Offers
Houses being sold as-is are a favorite of house flippers, contractors, and investors, and this means you’re likely to get some truly lowball offers on the home. Anyone looking to invest in renovating the house and then re-selling it want to maximize their profit margin while minimizing their investment costs, so don’t get offended if you see more than your fair share of abysmally low offers on your property. It’s just business, after all, and it goes with the territory of selling a house as-is. If you want to minimize lowball offers, sink as much money as you can afford to into crucial repairs and you should see the quality of the offers on your property come up. However, if this sort of cash outlay on your part is impossibility, you’re just going to have to grin and bear it.
We Buys Houses in “As-Is” Condition
Last but not least, you can find a company that is interested in buying houses that are listed as-is. Texas Ideal Properties is one of these house buying specialist, ready and able to take that house off your hands so it’s not dragging you down. Close quickly, sell your house as-is, and even get cash for your house so you can avoid paying commission fees to a Realtor by choosing Texas Ideal Properties as your real estate solution.