Is it ever a good idea to sell your home as is?
For some, the answer is yes.
Maybe the seller has inherited the property and they don’t live there or perhaps it’s not financially feasible for them to make renovations. It’s important to remember that when you do market your as-is home, the common assumption will be that the property is in need of repair. Because of that, you won’t see much interest from buyers looking for a move-in ready home, but you will see a lot of interest from investors and cash buyers.
Typically, the offer you receive will come in below market value, but also remember that, in such situations, market value is more of a mindset. Hear me out: If you have to shell out $30,000 in renovations to bring the home up the market value, you’re not necessarily selling it under market value, are you?
And let’s not forget, if your goal is to close on the home as quickly as possible, accepting a cash offer will ensure that you achieve it. As we mentioned above, if you’ve inherited the property and you can’t renovate it due to a lack of time, money, energy, or the fact that you’re in a different location, the most headache-free path is probably to sell it as is and take the profit.
Mind you, there’s a difference between repairs and renovations. For example, don’t market your home as is just because you’d rather not put in new carpet or update your kitchen. This will lead buyers to believe that larger issues are present. Whatever the case, always communicate your desired course of action with your listing agent.
The bottom line is that marketing your home as is can be a viable option so long as you understand that you’ll likely have to take an all-cash offer and earn less than you would on the open market.
If you have any questions or you’re not sure if you should upgrade your home before it goes on the market or sell as is, please reach out to us. We’d be happy to have a conversation and present you with a side-by-side comparison of both options so you can make a well-informed decision. We look forward to hearing from you!