There is a growing real estate market for sellers who want to sell their house as-is. Many buyers see the value in buying a home as-is.
They’re priced competitively and offer a fresh slate for updates and renovations. A house as-is can be a steal for someone who knows what they’re doing.
For sellers, there are many strategies for getting more and maximizing their offers when selling a house as-is. Here are the best tips for successfully selling a house as-is.
No Repairs
Selling a house as is means selling real estate without updates, improvements, or repairs. It’s understood. Any money you put towards renovations will be lost when you sell. It’s not required.
Set a Timeline
Working within a limited timeline or schedule – even if it’s something you’re tasked with – will help you move quickly and motivate you to close on your real estate transaction.
Be Available for Buyers
Yes, it can be time-consuming. However, if you want to sell a house as-is quickly, you’ve got to be available for showings and to close the deal.
Let your buyer know the truth about your property. If there are any issues, don’t hide them. Be transparent. Only negotiate with them if they’re open to it. If a buyer truly wants to buy your property, they will negotiate. Follow that instinct.
Allow a Buyer A Chance to Inspect
As the house is as-is, a buyer will want to include contingencies based on a home inspection. Let them inspect. This will give them the best understanding of the property’s condition, eliminating confusion or questions.
List Your Property As-Is
List your property marked as-is. This indicates that your house has challenges, and you should not be caught off-guard.
Write a Hyped Property Listing
Don’t downplay your house. Don’t forget to mention it in your real estate listing! Treat it like any other highly desirable piece of property. Look at other property listings to learn what a highly successful listing looks like.
Don’t Accept Low-Ball Offers
Just because you’re selling as-is doesn’t mean you must accept excessively low amounts of money for your home. Any low-ball offers not worth negotiating should be disregarded. A house as-is still has value.
Know How Homes Are Priced
Research similar real estate sales in your neighbourhood. Know roughly what a home like yours is worth. This will give you confidence in knowing what’s a fair offer and what isn’t.
Don’t Take Things Emotionally
It can feel rough when people openly criticize your house and try to negotiate you down. Don’t take it personally. In fact, don’t even negotiate with people who insult rather than have meaningful criticism or comments.
Keep Profitability in Mind
As you negotiate and commit to certain repairs or contingencies, remember that every dollar you spend reduces your profitability. Be mindful of what you’re willing to accept.
Simplify Negotiations
As you discuss the right price for your house with an interested buyer, keep negotiations simple and as best as possible. Reduce contingencies. If you have already priced your property to sell, you can minimize notes that could complicate your real estate transaction.
Reach Out to Buyers
Investors, companies, and individuals buy homes as-is for cash. They’re ready to move quickly. Look online or seek out local companies that engage in this practice. Many homeowners are shocked by what they can receive in this type of as-is house for cash sale. It saves time, effort, and negotiation.
Move Quickly When You Get Offers
As offers come in, move fast. There’s no reason to wait or delay. Invest the time it takes to close the deal on a proposed purchase.
No Staging
A house sold as-is does not need staging. Put in the effort to make your home clean and tidy. However, there is no reason to rent furniture, do minor remodelling projects, and stage the house. After all, a buyer accepts your house as-is.
Real Estate Agents and Lawyers
You can hire an agent but don’t need to if you want to approach a cash buyer. A real estate agent’s advantage is helping you navigate the traditional real estate market. You may not need an agent to sell a house as-is, however.
A real estate lawyer will ensure the paperwork is done right, that your rights are protected, and that common pitfalls in real estate transactions are avoided. They can minimize disagreements and confusion and eliminate delays.