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Hey {first_name},
Have you found yourself in a situation where you need to sell your house “as is?”
Perhaps you don’t have the funds to pay for repairs, or you’ve already moved and
can't be there to make any improvements?
Selling a house ‘as is’ can be tricky, but here are 6 things you can do to help feel
confident about your decision:
1. Understand what has to be done
Many lenders won’t give a mortgage to a Buyer if your home has
structural, health, or safety defects. So if your house has code
violations and you decide not to fix them, you may be limiting your
pool of prospects to only Buyers who can pay cash – and would expect
a bargain in doing so.
First-time buyers or anyone looking for something turnkey would likely
be spooked away by the property, too. So, an ‘as is’ Buyer is likely an
investor or contractor.
2. Make disclosures
Selling your home ‘as-is’ does NOT eliminate your obligation to make
buyers aware of anything that may affect their decision to purchase ie.
if the home was used as a grow-up or someone was murdered in it.
Check with me if you aren’t sure what to disclose.
3. Don’t bother with a pre-listing home inspection
Since you’re not guaranteeing anything anyway, there’s no need to be
fully informed about the property. Do away with the $400 inspection
and take a weekend mini-vacay instead.
4. Know the competition
Tour as many comparable homes as possible and note their features
and conditions. You’ll likely find that kitchens and bathrooms can be
deal breakers, while other improvements are not so much. If your
house falls short in comparison, be prepared to price low.
5. Prepare for lowball offers
Since your house will attract Buyers looking for a bargain, investors,
contractors, and the like, you can count on getting lowball offers. Try
not to take it personally. Know how low you will go and plan to counter
any lowballs. Some buyers may be willing to meet you halfway.
6. Keep the house as clean and neat as possible
Why should you bother if there are holes in the drywall and the
bathroom faucets leak? Because cleanliness does make a difference. If
you keep your bed made and the lawn mowed, it gives the impression
that you're not selling ‘as is’ due to laziness or lack of pride in your
home, but because of financial or practical reasons.
Pro Tip:
If you do have the time or money to make minimum repairs, it’s in your best
interest to do so. The following should take precedence:
Selling an ‘as-is’ home certainly has its challenges. If you’re considering taking
that route, call me so I can guide you through the intricacies of the process.
Cheers,
{first_name}
PS – Do you know the #1 reason a house stays on the market for a long time? Stay
tuned to find out.
Hint: It’s not what you think!
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