Selling a home “as is” can be smart. After all, if you need to sell a home FAST, selling it as-is means you don’t have to spend extra time or money fixing up a house before listing it.
But how much could you really be missing out on if you sell a house as-is?
When is it worth it? And when could it be a mistake?
There are no easy answers here, but there are some general rules of thumb that can help you start to figure out your best moves. First, though, it’s helpful to go over what it actually means to sell a home as-is.
What Does It Means to Sell a House As-Is?
“As-is” simply means the house will be sold as it stands. It’s a shorter way of saying that a seller is not fixing anything else with the home. Although that implies that something is damaged and needs to be fixed, “as-is” is not always or automatically negative.
There can be positive aspects of as-is sales for both home sellers and homebuyers, as long as they understand what they’re getting and what the tradeoffs of the deal can be.
How Much You Lose When You Sell a Home As-Is
There’s no single dollar amount or price range to call out here because you could lose more or less on an as-is sale, depending on several factors, like (but not limited to):
- The condition of your home: If there are more major problems, you could be taking a bigger hit on the sale than if the issues were just cosmetic or more minor.
- The asking price: How reasonably priced is your home? How much do you expect to get for it? If you’re asking price is already outrageous, you could see a bigger loss on an as-is sale (than if you had a more reasonable asking price).
- The market conditions: If it’s a seller’s market, you may not lose very much at all by selling your house as-is. In fact, if home inventories are really low and buyers get into a bidding war over your home, you could see it go for above the asking price, even with an as-is sale.
Generally, when buyers see homes for sale as-is, they are more likely to get home inspections before the sale to verify the condition of the property. Really, they’re looking for any major issues that could become big problems for them later.
What You Can Gain When You Sell a Home As-Is
Though it can be a gamble, an as-is sale may help you:
- Unload your home faster: Need to move quickly? Have you already bought another house and you just need to offload the one you have now? If so, an as-is sale can be a great option.
- Avoid shelling out cash upfront to get your home sold: If you don’t have extra cash to spruce up your home before listing it, again, you don’t have to renovate it before you put it on the market.
Keep in mind that it’s not necessarily an all-or-nothing choice when it comes to selling a home as-is. In other words, you don’t have to choose major updates or zero renovations. Depending on your home and your objectives, it could make sense to make some small, cost-effective updates to boost curb appeal, for example.
Should I Sell My Home As-Is or Make Updates Before Listing It?
The best way to get an honest answer here is to talk to an experienced Realtor. The truth is that there can be pros and cons to selling homes as-is and fixing them up before listing them. Your needs, budget, and timeline for selling — along with current market conditions and the condition of your home — can all play into whether it’s better to list your home as-is or invest in some upgrades first.
A Realtor can skillfully balance all of those factors to help you make an informed decision, so you’re in a much better position to get what you need out of the sale.
Selling a Home in Texas? Get Cash Back at Closing
Whenever you’re getting ready to sell a home in Houston, Dallas, Austin, San Antonio, or anywhere in Texas, you can get experienced help and cash back at closing when you work with the 5-star Realtors® at New Home Gurus. We can guide you through the process, helping you with offers, negotiations, and closing. Plus, we’ll split our commission with you at closing!
Home sellers who work with New Home Gurus can get back an average of $4,500 to $12,000 at closing.
How Much Cash Can You Get after Closing?
Call (281) 668-8124 or Contact Us to Find Out Now
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