In this article:
The process of selling your home can be daunting, stressful, time-consuming, and everything in between. What if you just want to sell fast and get on with your life? Here’s what you need to know about selling a house as-is.
What does it mean to sell as-is?
If you sell your house as-is, that means you and your buyer agree that you won’t make any repairs to the house before the sale – basically, what the buyer sees is what they get. In exchange for a potentially smoother and faster home sale, you’ll sell your house for a lower price than you would if you made home improvements beforehand.
There are a lot of reasons people choose to sell a house as-is. Many sellers don’t want to spend upfront time and money on repairs before listing their home. Others want to avoid potential delays from negotiating repairs with their buyer. And some sellers just don’t want to live in an active construction zone while they’re busy living their lives. (Hey, we get it.)
While many buyers may expect a turnkey home, you may be able to sell as-is without losing interest from potential buyers, particularly if you’re in a seller’s market. After all, things like a great location, lot size, and floor plan can be major selling points. Regardless of the market, your real estate agent can also market your home as an excellent opportunity for home buyers looking for a fixer-upper.
Tips for selling a house as-is
1. Be honest with your buyer
Keep in mind that many states, including Texas, require sellers to be completely honest about the condition of their house. The buyer also has the option of scheduling a home inspection to get a better look at the house. If the home inspector flags any unexpected issues, the buyer can still request repairs or seller concessions even if you’ve agreed to sell as-is. If the seller rejects this request, the buyer can walk away from the deal without losing their deposit. That’s all to say it’s best to be transparent with potential buyers…there’s no use in hiding information that could jeopardize the sale later on.
2. Get a pre-listing inspection
Since you’re required to provide information about the house’s condition to the buyer, it may be a good idea to get a pre-listing inspection. That way, you can be transparent with potential buyers on what they can expect when they do their own inspection. Providing this information early on may also help you sell your home faster since buyers will know exactly what they’re getting into when purchasing your house instead of assuming the worst.
Whether you list as-is or decide to make repairs, you’ll be armed with the information you need to be an informed seller, so there won’t be surprises later on when a buyer does their home inspection.
3. Make necessary repairs
While home buyers are usually prepared to handle minor repairs, there are some issues that might just scare them away. Consider repairing these home buying red flags before listing to improve your home’s appeal, such as patching holes in the walls, fixing broken windows, replacing broken HVAC systems, and repairing the roof.
It’s also important to know that most mortgage lenders won’t lend money for a home that has structural, safety, or health issues. If your house has any code violations and you don’t fix them, you might end up limiting yourself to cash buyers, which are often hard to come by.
Tip: Whether or not you make home improvements before listing, don’t forget to put in some elbow grease and declutter your home to make the best possible first impression.
4. Price fairly
When deciding on a list price, make sure you look at other homes for sale in your area and factor in the necessary repairs for your home. After all, competitively-priced homes tend to sell quickly, while overpriced properties usually spend more time on the market. It’s also helpful to decide ahead of time the minimum sale price you’re willing to accept so that you can speed up the negotiation process.
5. Consider listing with Orchard
If you sell your house with Orchard, we’ll list your home for top dollar with an optional backup cash offer. We’ll market your home to help you find a new buyer. Most of our listings sell within the first month, but for added flexibility you can sell directly to Orchard once your home has been listed for 30 days. You can learn more about our service here.