If you plan to sell a home, you may want to do a few renovations and repairs first. For example, if the exterior paint is fading, you might want to repaint your house. If one of the outlets doesn’t work, you might want to have an electrician do some repair work.
Minor repairs make your home more attractive to buyers. However, not all sellers have the time or money to invest in repairs and renovations. If this is the case, you might consider selling a home as-is. Before you do, be sure to weigh the pros and cons.
3 Pros of Selling a Home As-Is
1. Avoid inconvenience
Repairing and renovating a home can be very inconvenient, especially if there’s a lot of work to be done. You may have to hire different specialists to perform different tasks. Each task will require a significant amount of decision-making on your part. It can be a hassle.
2. Sell faster
You can put your as-is home on the market right away. Because your home may be priced below market value, you may find a buyer faster.
3. The selling process is easier
You won’t have to worry about pre-sale inspections, staging, open houses, and more. Buyers know what to expect with an “as-is” property, so the sales process may be quicker and easier.
3 Cons of Selling a Home As-Is
1. Buyers are harder to find
Most buyers don’t want the inconvenience of repairs and renovations. You’ll be limited to those looking for a good deal and a fixer-upper.
2. Buyers will negotiate more
Because it’ “as-is,” most potential buyers will try to negotiate the price down even further.
3. You will make less
Few will pay market value for a house in need of significant repairs or renovations. You may have to price the property below market value.
If you’re thinking of selling a home as-is, be sure to weigh the pros and cons. For more advice about selling a home, contact us at Randy Lindsay today.