Most homeowners should avoid starting off a sale with as-is. However, there are certain situations where selling as-is really is desirable. In these cases you will need to know how to sell a home as is. These reasons include:
1. You really cannot afford to make any repairs.
You may be in a financial situation where repairs – any repairs – are just not feasible. If the property has defects and you have no way to repair them, you may have no other choice but to sell as-is.
However, try to keep an open mind and talk to your Las Vegas Realtor before you make a hard decision on selling as-is. Your Realtor may be able to come up with some creative solutions that will allow you to avoid selling as-is, or at least avoid putting it in your listing right from the beginning.
2. You really cannot handle the stress of a home sale.
Sometimes homeowners find themselves in situations where they have to sell their home, but they are truly unable to deal with the stress that a drawn-out sales process entails. If you are seriously ill or otherwise incapacitated and do not believe you are capable of dealing with the selling process, you may decide that selling as-is makes the most sense.
Again, make sure to explore all your options before making a final decision on selling as-is. If you can get help from friends or family, or if your Realtor offers to take care of all the stressful aspects, you can probably get a better price for your home if you avoid selling as-is.
3. Financial distress.
Sometimes an owner will find themselves in serious financial distress and needs to sell their home immediately in as is condition. One viable option in this scenario is contacting a real estate investment company. These type of companies are perfect for those distressed sellers who need an immediate sale.
“Buying Nevada Houses” pays cash and purchases homes in as-is, where-is condition. However, we cannot pay you market value because of the potential risk of repairs.
Accepting an Offer and The Subsequent Home Inspection
There other time selling “as is” comes up is after an offer is received but before the buyers home inspection takes place.
Sometimes in a home sale, the negotiation between a buyer and seller can be arduous. From a sellers perspective, the thought process is “I just gave the buyer an incredible deal”. Over the years, many sellers have said during the last round of negotiating an offer is to tell the buyer’s agent there will not be any further seller concessions after the home inspection.
In other words, let the buyer know they are buying the home “as is” and I am not coming down another dime on the price or making any repairs for any defects discovered. Many sellers having sold homes in the past understand that a home inspection can be a second round of negotiations. Sellers try to head off these unreasonable home inspection requests before they ever happen.
There are times when a seller has a little bit of money to invest into their property prior to listing it for sale. In this circumstance, it may make sense to do smart home improvements prior to listing for sale.
For example, nothing goes further when selling a home than a fresh coat of paint. If you have rooms that need painting or wallpaper that should be removed, doing so can be one of the highest returning investments. Selling as is when you can afford to compromise a bit may make some sense. This is something you should discuss with your real estate agent. Your agent should also be able to point out other
Selling as is when you can afford to compromise a bit may make some sense. This is something you should discuss with your real estate agent. Your agent should also be able to point out other things that should be fixed before putting the home up for sale.
Pricing a home properly is a skill and an art. Unfortunately, some real estate agents do an absolutely horrible job of pricing a home correctly. Putting the right price tag on a home is even more difficult when selling a home as-is. Many Realtors are not skilled at estimating repairs and improvements that are necessary. Given this, lots of homes end up being overpriced when selling as-is.
Be sure to look at the agents list price to sale price ratio and average days on market statistics before hiring them. It would be a good idea to specifically ask for this information on any homes they have sold as-is!