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When Should I Sell My House As-Is?

Should I Sell My Home As-Is? Tags: , , , , , , , , ,
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Wheatland Realty Agent Nicole Tudisco takes another look at selling homes “As-Is” in Part 2 of a 3 part series.

 

In my last post, I answered the questionCan You Sell Your House As-Is? As you saw, typically we don’t recommend it, but there are times when it truly is the right decision.

What factors make itthe right decision?

Here are the two most common:

1.  You are selling your home as a short sale.  A short sale means you owe the bank more money than what the market will give you for it.  When you enter a short sale, you are telling the bank you have a hardship and can no longer afford the home.  If you are struggling to pay your mortgage, it makes sense you will not be able to pay for the repairs a buyer may request.  If this is where you find yourself, please know you are not alone and it truly is the right decision to sell your home As-Is.

2.  Your home’s value really lies in the land.  In this case, the home is in such disrepair that the structure is truly a tear down.  You want buyers to understand this up-front so that you attract the right buyers.  There’s always the option of removing the structure and then there’s no worries about the As-Is status.  However, it depends on the resources you have available to you and I’ve found it to be a rare situation where this is cost effective.

Important note:  Whether you sell a home As-Is or not, the buyer will always have a right to a professional home inspection.  Be sure the buyer does their home inspection up-front – it’s best to know in the beginning of the process whether they will move forward before too much of your time is wasted

Bottom line is…

If you are in a distressed sale situation or the cost of repairs exceed the value of the home (or a majority of the value) then you are most likely best suited to sell your home As-Is.

If you are still not sure if selling As-Is is right for you, please call us.  We will give you our expert opinion based on your personal situation.

My best always!

Your Cure for the Common Realtor,

Nicole 

If these tips have been helpful to you, check out this post on Real Estate Tools You Can Use!

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