The prospect of selling your home often comes with many questions like, “What kind of repairs should we make before we sell?” or “Who is the best realtor for the job?” and so on. Many people choose to forgo any improvements and/or repairs and simply sell the home as is. This means that you are selling the home in its current state with no obligations to fix any problems or make any improvements after the home has been sold. It is important to understand that you still must be transparent with prospective buyers regarding any issues that exist within the home. With that being said, here are a two of the pros and cons of selling your home as is.
From making seemingly endless repairs and improvements to dealing with a drawn out selling process, selling your home can quickly become a stressful process. When you choose to sell as is, you are in effect forgoing much of the stressful aspects of the process. The most notable of these aspects are improving or repairing elements of your home. With this process, you would need to research contractors and maintenance firms, find the one that fits your needs the best, and then of course pay them for the work. While the money you reap from your sale will not be as high as if you made these improvements, you will be avoiding the investment of time, stress, and upfront cost that comes along with fixing your home up.
In short, you will not make as much money in selling a home as is. People tend to become very wary when they hear the term as-is when looking for a home to buy. This can lead to lower amounts of interested buyers, as they are looking to avoid overly-costly “fixer-uppers.” It will also prompt many prospective buyers to low-ball the price you are asking for as they feel they have more leverage in the situation. It all comes down to providing for more leg-work for you and/or your realtor in proving the value of your home.
Selling your home is never exactly a walk in the park, but there are many situations when selling as is just makes more sense for the owner. This is not to say it comes without its difficulties, but it is a good way to forgo many of the classic obstacles in selling a home. Whatever you decide to do in the end, make sure you have given plenty of thought to all of your options.