It can take between 30 and 45 days for buyers to purchase a home. Many people take weeks repairing, staging, and marketing their homes for sale. If you’re in a rush, however, you might decide to sell your home as-is.
It’s important to make the most of your time and have a plan instead of struggling to compete in the busy market.
Here are nine tips that can help you discover how to sell a house as-is. With these tips, you can use your time efficiently regardless of the housing market’s current state.
1. Know What As-Is Means
First, it’s important to understand what selling a house as-is means.
When you decide to sell your home as-is, you’re selling the property in its current state. However, homeowners in most states are legally obligated to answer any questions about their home. You need to work with the buyer before you can sell your home.
You and the buyer will need to make an agreement about which repairs will or won’t get done before the sale. The buyer will also need to sign paperwork stating they understand the property’s situation.
However, there are rules associated with selling a home as-is. For example, you’re forbidden from hiding defects. You also can’t misrepresent the home’s current state during a sale.
Here are a few issues you’re expected to disclose to the buyer:
- Major plumbing or electrical issues
- A leaky roof
- Termite issues
- Major cracks and other structural issues
- Legal issues with the house’s title
- External issues like loud neighbors
- Unacceptable radon levels
When selling a house as-is, some homeowners feel the need to downplay damage to make a quick sale. However, you must disclose the proper information before selling your home.
2. Request a Pre-Listing Inspection
To provide accurate information about your home’s current state, it’s important to schedule a pre-listing inspection. That way, you can learn as much as you can about your home before speaking with a potential buyer.
A pre-listing inspection will identify your property’s current issues. Otherwise, you could fail to price your home properly. Most buyers will request a full inspection, anyway.
It’s better to discover these issues on your own before you list the property. Otherwise, you’ll find yourself under someone else’s deadline to get the problems fixed.
A potential buyer might even walk away because you didn’t disclose those issues from the beginning.
Requesting a pre-listing inspection will help you gather as much information as possible about the property. That way, you can remain upfront about issues when selling a house as-is.
3. Talk to Friends, Family, and Neighbors
While you wait for an inspector to complete their review of your home, talk with friends and family members. Do they know anyone looking to make a fast move? They might help put you in contact with a potential buyer.
Speak with your neighbors, too. They might have a family member who wants to live closer to your neighbor.
Remain upfront and let everyone know you’re trying to sell your home as-is.
Otherwise, they might develop false expectations about the state of your home, which could cause you to waste time.
4. Gather Multiple Estimates
Once an inspector completes their review of your home, start speaking with contractors. Gather multiple estimates from reputable contractors in the area. That way, you have a realistic idea of how much it would cost to make repairs.
Having these prices ready for a potential buyer will save them time and stress. That way, they have a realistic expectation of what they’re getting into.
Make these estimates available along with the inspection report.
A buyer might want to complete their own inspection or speak with contractors on their own. Providing this information will show them that you’re trustworthy, which can speed up the sale.
5. Review the Necessary Repairs
Even if you want to learn how to sell a house as-is, making a few repairs can speed up the process.
For example, it’s a lot harder to sell a home if the roof is leaking.
A buyer is likely willing to take on a few issues. However, they might find a long list of problems is too much. Making a few of the repairs yourself can help you find more interested buyers.
6. Disclose Everything
About 36% of homeowners say unexpected repairs and maintenance are their biggest buying regret. When trying to sell a house as-is, it’s important to remain honest.
In addition to helping you sell the home faster, it can also help you avoid legal problems down the road.
7. Sell to a Professional Buyer
If you’re finding selling a house as-is difficult, you don’t have to work through the process alone. Instead, consider speaking with a professional buyer. They can help you discover how to sell a house without spending a dime.
This way, you won’t waste valuable time or money trying to sell your home on your own.
8. Price It Right
If you’d rather learn how to sell a house as-is on your own, make sure the price is right. You want to price your home along with the estimate for repairs. That way, the buyer has a full picture concept of what they’re paying for.
If you don’t include repair estimates, they’ll need to add up the cosmetic and structural costs on their own.
Presenting the buyer with the total from the get-go will benefit you both. That way, there’s no miscommunication about the costs.
Don’t try to request more than what the home is worth. Otherwise, you’ll risk scaring off buyers.
9. Remain Flexible
Throughout the entire process, it’s important to remain flexible. Buyers will likely still want to negotiate prices.
Remember to remain patient and honest to avoid losing potential buyers.
How to Sell a House As-Is: Use These Tips for Success
Now that you know how to sell a house as-is, get to it!
These quick, easy tips will help you close the sale on your home. Skipping these steps, however, could cause you to miss out on potential buyers.
Looking for more tips on selling your home? Explore the other sections of our blog for more helpful guides.