Tips for selling a house As Is
Many home sellers want to learn how to sell a house as is. Depending on the status of the property, you may find you need to repaint, caulk, remove, and generally repair. I often get asked what items that may have been neglected during your ownership should now be brought up to snuff. Certainly it’s true that a home in top shape can get top dollar. However, the expense of upgrading a bathroom or fixing a cracked sidewalk may exceed the amount you can expect to recoup upon sale. Keep in mind, that if your home needs a new roof which will cost $30,000, a buyer will expect more than that amount in a discount. If you find yourself in a position where you cannot or just do not want to make repairs, follow these steps to learn how sell a house as is.
Identify what you can do to improve the appeal of the home
If you are not going to make repairs or upgrades to bring the home to neighborhood standards, the first thing you should do is declutter and clean. This holds true for all sellers, because when trying to sell a home as is it’s important that you make it show in the best possible light. Remove personal mementos and pictures. Clean off the table and countertop. Find a drawer or bin for all loose items. In addition to making the home visually appealing, this can soften the impact of the needed repairs.
You may also like: Staging Tips from the Pros
Plan your response to low ball offers
If your home is in need of major repairs and you are selling As Is, you most likely will receive offers from investors and “flippers”. Most home buyers would prefer the home to not have major repair needs. Investors and flippers will probably be the buyer of your home. It is important to know how to respond to and negotiate their offers. We suggest having estimates for needed repairs done and handy. The purchaser will have their own estimate of repair costs, therefore you must have yours. By knowing ahead of time what the repair costs will be you won’t be blindsided.
Disclosures are still required by law
Every state has different laws regarding disclosures. The most common thread through most of them. Sellers must disclose to buyers things about the home that could have substantial impact on its value or desirability, and that is not readily observable. The one federal regulation regarding property disclosures is in regards to lead based paint. Federal regulation require a disclosure on homes built prior to 1978 from the sellers advising of their knowledge of any lead based paint in the home. The buyer must acknowledge receiving the disclosure from the seller.
- Clean and declutter
- Know what the repair costs truly are
- Be prepared to negotiate with experienced investors
- Know the laws in your area regarding disclosures
We hope you’ve enjoyed reading How to Sell a house As Is. If you need assistance deciding what repairs you should make before selling please contact us. We’re happy to help you if you choose to sell your house as is.
Neal Properties Team at Keller Williams