When someone decides to sell their house “as-is,” this means the state of the house as it exists right at this very moment is how the state the house will be in when and if it changes hands. Many house sellers have begun to use this stipulation while deciding to offload a home they own, and it’s something you can do as well – as long as the situation regarding the house and its particulars are advantageous to you. Here’s why you should sell your house as-is – and why you might want to hold off on such a choice as well.
Some house sellers think that trying to sell a property as-is is the best way to avoid liability. However, this is incredibly wrong – you still have a duty to disclose any and all liabilities in the building you’re aware of. It’s a legal requirement, and the actual “as-is” quality of a real estate listing actually refers to any warranties on the building and/or property. If you neglect to disclose even one defect in the home that you were aware of – or had reason to be aware of – you’re going to be on the losing end of any legal conflicts arising from the issue. This means you’re likely to be on the hook for any repair work that needs to be done on these undisclosed defects.
However, if you do disclose any and all defects with the house, you’re quite literally off the hook. Informing a buyer of a laundry list of defects or items that need to be repaired excuses you from any sort of liability on an as-is sale. You won’t have to worry about having to be obligated under the terms of a contract to take care of glaring and expensive repair or maintenance jobs. Additionally, you’ll be able to attract prospective buyers from all walks of life, from low-income families looking to get a great deal on their first starter home to an enterprising handyman that can see the bones of your house and how he or she can put their particular spin on the property or even fix it up and then attempt to “flip” it once it’s been renovated. Whatever you do, be prepared to see all kinds of “lowball” offers once you do list your property as-is.
Just remember: you may not get full asking price on a property that’s listed as-is. This may not be the case universally – if you have a house that just looks a little rough but is otherwise mechanically sound, your asking price will likely reflect that. However, if there are some serious defects in the property that will need to be addressed by a seller in order to make the house habitable, no one’s going to want to pay full price on it. They’re not being cheap, of course – they’re just factoring in the cost of repair work that they will have to pay above and beyond the purchase price to turn the house into a home. However, if you reflect the average cost of such repairs into your asking price and lower it accordingly, you’ll be able to get a buyer on the hook that much more easily while also avoiding having to shell out the money to do the repair work yourself. However, even in such a case, you’ll likely be on the losing end of the bargain – even if just a little bit – but if you want to get that property off of your hands as quickly as possible, an as-is sale is your best bet.
Many times, people who want to sell their home find that the process does not always go quite as smoothly as they would have hoped. There could be many reasons that you are having issues selling the home. Perhaps you have a home that has been damaged and is in need of repair, or perhaps
If you are trying to sell your home, or you merely want to improve the look of your property, then you need to improve your curb appeal. Many people worry about spending too much money, particularly if they are selling their property. However, a great looking home can help you to increase interest in the