If you’re ready to get out of the home you’re currently living in and don’t want to have to put in a lot of work to make it happen, selling your home as-is might sound like the right course of action for you. But before you go down this path, it’s good to know what this could mean for you as the seller.
To help you in figuring all of this out, here are three things to know when selling your home as-is.
You Still Must Disclose Everything
While you might think that selling your home as-is will mean that a buyer will just take it as it is with no questions asked, you’ve got another thing coming.
With selling your home as-is, you’re simply saying that you’re not willing to make any changes or repairs to the property before you sell it. But despite this, you still have to disclose everything you know about the property to any potential buyers. So if you thought that you might be able to sneak something by when selling as-is, this isn’t likely to happen. The buyers will just get to choose if they’re willing to take on the home with all of the problems and repairs out in the open without any expectation of things changing before they close on the home.
Know What Issues Might Become Problems For Buyers
Although some people are willing to buy homes with all kinds of problems, most buyers don’t really want to take on a home that’s going to be more trouble than it’s worth. So to know if you’re going to run into issues with selling your home as-is, it’s good to know what issues are most likely to cause a buyer to back out of the sale.
Generally, issues with things like the foundation of the home, mold, leaks in the roof, or an old HVAC are big causes for concern for buyers. To fix these things, they’ll have to put a lot of money back into the home right after buying it. Because of this, you can expect the price of the home to go down for you if major issues like these come up in a home inspection.
Closing The Sale Can Be A Challenge
Even if you’ve found a buyer who wants to take the home off your hands as-is, having the sale go through and close can still be a challenge.
Depending on what issues the home has, you might have some buyers who can’t get the financing they need to actually purchase the house. So if you know there are big things wrong that people will have to fix, you might want to consider accepting cash offers only to bypass issues with buyer’s financing.
If you’re wanting to sell your home as-is, consider the information presented above to help you determine if this is the right choice for your situation.