Ah, the need for speed in a real estate deal – we’re quite familiar with it. From clients who’ve taken a job out of town with an impatient employer to the need to sell a deceased family member’s home, “Should I sell my house as-is” is a common question.
There are also the clients who tell us they aren’t the best at maintenance and have, sadly, let the home go over the years and they now need to sell, with neither the time nor the money to make needed repairs.
Let’s take a look at some of the issues you should consider before trying to sell the house in as-is condition.
Price considerations
A recent study finds that most homebuyers – especially first-time buyers – want a home that they can move right into and hang up their toothbrush. And, they say they are willing to pay more for such a home.
Face it: many of the competing homes in your area will be closer to this condition than yours if you choose not to make improvements and/or repairs.
Unless your home is priced low enough to compensate the buyer for what he or she will need to spend to bring it to comparable condition, it will sit on the market.
So, if your budget can tolerate a very low listing price, you’ve passed the first challenge of trying to sell as-is.
Come up with a strategy
Again, it’s understandable that some fixes are just too expensive for some sellers to manage.
You’ll also want to consider how you’ll deal with the very low offers you’ll receive. The mere mention of the words “as-is” act as a magnet to investors and flippers. Know the lowest price you’ll accept and remind yourself to keep your emotions in check and to not take lowball offers personally.
Finally, despite the problems with the home, the one way you can help boost the price, even a small amount, is to ensure that it’s clean at all times.
If your home will be vacant, consider some inexpensive staging techniques to help buyers overcome the as-is aspect of the sale.
When a home is neat and tidy (both inside and out) it sends a subliminal message to potential buyers that someone does care about the home.
Either decision is fine, and the WeLoveKits.ca team has the contacts to make it happen for you.
