When you want to sell your house but it needs repairs, you might be tempted to list it “as-is” on the real estate market. That’s certainly a decision that may work out for you–that is, if you’re willing to wait and compromise. Another option is to sell quickly to a cash home buying company.
What “As-Is” Tells the Buyer
You have probably seen the term “as-is” in real estate listings. It’s a commonly used term that tells the prospective buyer that the home needs repairs, and the seller doesn’t intend to make any. The “as-is” designation often appears on listings for inherited homes, rental properties, and homes that have been neglected for some time.
“As-is” can be taken as a warning sign to buyers. Although certain disclosures are required by law, it is not necessary for sellers to get a home inspection. There may be problems lurking in the home that neither the seller nor the buyer can know by looking.
Risks of Listing an “As-Is” House
When you list a house “as-is,” you can’t predict how quickly it will sell. Many buyers want a house they can move into immediately. Their budget may not stretch far enough to make immediate repairs. Or, they may not be interested in purchasing a home with issues, even if it is priced below market value.
Homes listed “as-is” often sell more slowly than comparable houses on the market. You may have to lower the price or offer other incentives to encourage a sale. Worse, if you receive an offer, and a home inspection uncovers more serious defects, the sale could fall through.
How a Cash Sale Can Help You
Selling to a cash home buying company is an attractive alternative for many people who own houses in less-than-perfect condition. Home buying companies never ask you to make repairs. You’ll receive an offer within a day or two of contacting them. You can also close quickly. A home buying company has cash on hand and doesn’t need to get financing. Often, you can set the closing date within a week or two.
Selling a house “as-is” the traditional way can be slow and stressful. Instead, selling to a cash home buying company is simple and straightforward. Since the offer carries no obligation, it makes sense to explore your options.
You can sell your Spokane area home “as-is” quickly and without stress. Click here to find out more!