About 7% of all homes sold in 2020 were sold by owners. They sold the homes for less than agent-assisted sold homes, but they also didn’t have to pay commissions.
Most FSBO sellers struggled with getting the house ready and pricing the home for sale. They also didn’t account for the length of time it took to prep and sell the home.
If you’re getting ready to sell a home yourself, consider selling a house as-is by owner. That lets you skip the preparation of the house.
It can save time, but there are potential pitfalls to be aware of. Fortunately, you’re in the right place to find out what they are.
Keep reading this guide to learn how to sell a house as-is.
Should You Sell a Home As-Is?
There are pros and cons of selling a house as-is. Your first step to selling a house as is by owner is to decide if it’s right for you.
When you sell a home as-is, you’re selling the property as it is right now. You’re not going to do repairs and the home comes with issues.
You’re legally obligated to disclose what those issues are.
The main reason why you’d want to sell the home as-is is to save money. Repairing a property can get expensive and if you can’t afford it, then you should unload the property.
Selling a home as-is by owner also saves money on real estate commissions.
You’d want to reconsider selling as is only if you want the home to get several offers at market value. Buyers are hesitant to buy a home as-is. They prefer to have something move-in ready and are willing to pay more for it.
Weigh the costs of repairs against the potential market value of the home. Take into account the time it takes to repair and sell the home. That will help you decide if it’s right for you.
How to Sell a House As-Is
You want to get a sense of the current value of the home. The two things you want to do are to get an appraisal and a home inspection.
The inspection reveals issues with the home. You could decide to make minor repairs or let them go.
The appraisal is a guideline for pricing the home. You may want to get advice from a real estate agent to confirm your pricing.
If you want to just be done with the process without the headaches, then look for companies that buy homes for cash, such as https://www.homeofferhouston.net/, OfferPad, and We Buy Houses.
You’ll get a cash offer on the home and may be able to close in about a week.
Selling a House As-Is by Owner Isn’t Complicated
If you’re thinking about selling your home, don’t overlook selling a house as-is by owner. It reduces the amount of time to sell and you don’t have to do as much work.
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