One of the most stressful, time-consuming, and exhausting steps when selling your home is the renovation and repair stage. While they can increase the overall value of the home (when done correctly), it often comes at a hefty price – not just financially, but mentally and emotionally.
You might have a leaky roof that needs tending to, landscaping that hasn’t been maintained in years, a broken window with duct tape over it, some cracked tile in the kitchen, a hole in the wall of your bedroom, or an outdated bathroom that definitely won’t pass modern-day expectations.
These are all problems that would need to be taken care of when selling your home the traditional way. Most prospective buyers that are going the traditional route are interested in a home that’s move-in ready and they aren’t going to settle for something that hasn’t been renovated recently.
So, should I sell my home as-is?
Selling your home as-is often means selling it without completing any renovations or repairs. It means you have no interest in improving the home before selling it and you’re not responsible for any repair costs when renovating the home – all of those costs are absorbed by the buyer.
This is usually an attractive option for someone that wants to sell their house quickly and wants to avoid the drama, time, energy, and effort that generally goes into selling your home the traditional way. It allows homebuyers to buy at a ‘clearance’ price and allows the seller to get out fast.
At the end of the day, homeowners have plenty of options when selling their home and there’s no right or wrong way to do it – so long as it’s done legally and to your satisfaction. Whether or not you should sell your home as-is will largely depend on each homeowner’s unique situation.
Benefits of Selling Your Home As-Is
Selling your home as-is has become an increasingly popular option among homeowners today. There is a wide range of benefits that homeowners can enjoy when selling their home as-is and it can be the best option for the right person. Let’s take a look at some of the reasons why:
- Sales are usually quick and close fast
- Sellers usually receive cash within weeks
- Sellers don’t need to repair or renovate the home
- Sellers can reduce the amount of stress and frustration involved
- There’s sometimes room for negotiation, depending on the buyer
- It makes sense for those that inherited a property
- The amount of time saved can be used elsewhere
- Sellers usually aren’t obligated to a home inspection
- Usually don’t have to deal with real estate agents
Not everyone has the time or wherewithal to endure the long, stressful process of selling your home the traditional way. If this sounds like you, then selling your home as-is might be the route to consider. Better yet, you can contact us and we’ll help you navigate through the process!
Downfalls of Selling Your Homes As Is
While there are a ton of benefits to selling your home as-is, that’s not to say it doesn’t come with some downfalls. It’s not going to be the best option for everyone and some people might be better off avoiding it. Let’s take a look at some of the disadvantages to selling your home as-is:
- Potential buyers might perceive the house in a negative light
- The chances of receiving a low-ball offer are high
- Sellers will have fewer offers to consider
- You will miss out on profits that could’ve been gained by renovating the home
- Selling a house as-is means you still have to disclose any defects to the home
For those that feel selling their home as-is isn’t the right decision, don’t worry – you don’t have to! There are plenty of ways to sell your home and you’re not confined to doing it any one way. As long as you’re not in a rush, there’s nothing wrong with taking your time when selling a home.
How Much Will You Lose By Selling As Is?
One of the most common questions we get asked by potential sellers is how much money they risk losing by selling their home as-is. To be honest, there’s no one answer to that question and it largely depends on each homeowner’s unique situation. Some people might not lose anything.
It essentially boils down to how much your home is worth as-is and how much your home is worth move-in ready – and how much it’ll cost to get your home to that point. Some people might risk losing upwards of $50,000 by selling their home as-is, but others might save money.
Let’s say your home is worth $200,000 as-is, but you can sell it for $250,000 with $25,000 of repairs or renovations – you would be missing out on $25,000 profit. Likewise, those same renovations might only increase the value to $220,000, at which point you would lose $5,000.
Steps to Take When Selling Your Home As-Is
If you’re interested in selling your home as-is, don’t worry – it’s a rather simple process that won’t take much time, energy, or effort. You should start by receiving advice from a local real estate agent, that way you can consider the potential pros and cons of selling your house as-is.
Next, you’ll want to have your home inspected – that way, you can disclose any defects the home has. You’ll also want to get estimates for all the repairs that are needed and do some market research to see what similar homes are selling for. This will help you set a fair price.
Of course, you can also bypass a majority of those steps by contacting Sell Your House Fast Las Vegas. All you need to do is send us some basic information about the home and let us tour the home (in-person or virtually). Within 24 hours, you’ll receive an honest and fair cash offer.
To learn more about our process, how we calculate your cash offer, what factors we consider when determining the offer, or how you can get started – contact us today. We can’t wait to help you receive the most cash for your home as-is and are excited to help save you some valuable time!
