Selling a House As-Is
Every property owner in this city will come to a point where he asks about selling a house As-Is. The basic question is “Should I repair or update my house before I sell?”. Each owner is unique, and the answer to the questions may be different for each type of seller. We have found that it usually depends on a seller’s situation and how much hassle they’re willing to put up with.
Selling a House As-Is
In selling a house “as-is”, the owner of the property will not negotiate any repairs or updates with potential buyers. An “as-is” sale almost always refers to the physical circumstance of the property. But in some cases it could mean the title or deed is in some kind of abnormality. When a house is sold as-is, the seller is still responsible for disclosing pertinent facts about the property which could affect the value or occupancy of the property. Items to disclose may include mold, structural or foundation issues, hazardous environmental conditions, or major plumbing problems. An as-is clause will not relieve a seller of liability, and an attempt to cover up conditions is fraud. U.S. Direct Home Buyers stands against fraud in all forms.
Is there a Demand for Fixer-Uppers?
Yes! Some end buyers prefer “fixer-uppers”, trading sweat for equity to get the property, but normally buyers are looking for less expensive update candidates, and shy away from major repairs. Few buyers are really equipped to handle major reparis. And some companies like U.S. Direct Home Buyers specialize in purchasing problem properties.
Should I fix the property?
Is selling a house as-is worth it? It’s really up to you, the owner. Fixing the property yourself can make you more money, but it will also cost you time. It also takes more money than you might realize. Make sure you’re ready for the challenge. You will want to check other properties in the neighborhood to match or exceed the kind of repairs they did. Days-on-market is another critical factor, as well as the relative condition of the housing. Carefully determine what you need to do to get your property up to neighborhood standards.
Selling a house as-is is not necessarily difficult, but you want to get the right value from it. Count the cost and ask yourself if it’s worth it. If it’s a simple update, it may make sense. If it’s the whole house needs updating and repairs go beyond what’s prudent, you might simply sell the house as-is.
Getting The Highest As-Is Offer:
- Find out what the property could sell for all fixed up. You can contact us and we’ll refer you to a real estate agent who can “run some comps” for you. You can also look at sites such as zillow.com, realtor.com, and others, but they’re notoriously inaccurate.
- Carefully develop a cost estimate of repairs or updates needed. Estimating repairs is not as complicated as it sounds. The key thing to keep in mind is you don’t need to be exact. Here’s a great link that will help you determine very easily how much it might cost to update or repair your property. repairs. Click here for a useful cost guide.
- Determine a fair, as-is price for the house. This can be a little tricky. Often it’s difficult to determine what some have called the “hassle discount”. This is the reduction for a buyer to fix the property up themselves. If only a little work is required, listing with a real estate agent is usually best. For the big repairs you will be money ahead usually by calling a cash house buyer like U.S. Direct Home Buyers.
- Determine whether it’s worth updating the house. Remember to factor in the final sales costs, such as escrow fees, realtor fees, title fees, buyer concessions, appraisals and inspections in your estimates. We’ve had several potential clients who later regretted their decision to not sell their house for cash. It’s easy to underestimate the cost of repairs and listing. If you would like help determining your costs, don’t hesitate to fill out the form or call us at (832) 662-2202.
If you decide to do the repairs on the property yourself, here is a list of twelve repairs you should make if you want to sell to a conventional retail buyer:
- Repair leaky faucets
- Patch cracks and holes in ceilings and walls
- Repair broken appliances
- Service and repair AC/Heating
- Replace carpeting if worn
- Paint dark walls with neutral paint (not white)
- Replace broken windows
- Patch/repair the roof
- Replace worn door hardware
- Change out dated light fixtures / ceiling fans
- Replace old window coverings
- Fix code violations
U.S. Direct Home Buyers can provide you with an all cash, as-is offer, with NO REPAIRS! No commissions. No closing costs. No comissions. The price offered is never with any sort of fees or additional costs. If you’re thinking of selling a house as is and would like an offer within 24 hours, call us. There is no obligation, and you will learn more about what to do about selling your property.