Is It Possible to Sell My House “As Is”?

When a house needs repairs, it may not be easy to sell. It can stay on the market for months, and you may not be able to get top dollar for it. After taking a look at the disadvantages of selling a house “as is,” you may want to think instead about getting a cash offer. 

Needed Repairs Lower the Price

When listing your home for sale, the agent will take into consideration the condition of your home and property in setting a price. If serious problems exist, you will have to ask much lower than the going market price.

Even if the needed repairs aren’t immediately visible, you could still end up getting less than you ask for. At closing, the buyers will ask for a home inspection, and any defects will be found. At that point, the buyer might ask you to renegotiate the selling price.

As Is Status Turns Off Buyers

An “as is” status can turn off potential buyers before they even step foot into your house. Most people today look at home listings online to see which homes they’d like to tour. The term “as is” in a home description is a big red flag that there could be problems.

Leaving “as is” off the description won’t help. You will be required to fill out disclosure forms that ask about things like leaky basements and foundation problems. These forms are available to the buyer.

You Still Have to Pay Commission

When you finally accept an offer, you’ll still have to pay commission and closing costs with a traditional sale. Commission averages about 5 to 6% of the sale price in most areas. These expenses cause further deductions from the sale proceeds.

In the end, while it’s possible to sell a house “as is,” you might not be pleased with the results. You will probably end up waiting longer than average for an offer and walking away with much  less money than you had thought.

If making repairs isn’t possible for you, it is possible to sell your home quickly, regardless of the condition. A cash buying company will make an offer for your home, without commission or closing costs deducted. You can be finished with the deal within weeks.

Do you have a house in Utah to sell? Learn more about the process of the “as is” cash sale at this link. 

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