I’m Selling My House As Is. What Should I Expect?
Selling a home isn’t like selling your used car or that snowblower you bought last year before you discovered you preferred using a shovel. Selling a home is a bit more involved, but you knew that right? In fact, selling a home is downright overwhelming, even under the best of circumstances.
If you’ve found yourself saying, “I’m selling my house as is,” this post is for you.
We can’t promise a faster home sale, but reading our short guide should help you know what to expect.
Selling a House As Is?
Before listing a home on the real estate market, most sellers make minor repairs. In some cases, they invest in major renovations, especially if they have the time, and assurance the investment will pay off.
For a variety of reasons, a seller sometimes needs to sell a home quickly. In that situation, they often list their home as-is, which means they’re selling the property in its current condition.
No repairs. No updates. No big-ticket renovations.
If this sounds too simple, the buyer must sign a document indicating they’re fully aware of the condition of the home and the sale.
Following the Rules of an As-Is Home Sale
It might sound as if there are no rules to follow, but that’s not true. Most states require all sellers to disclose what they know about their home by filling out a seller’s disclosure.
In many states, it’s illegal to hide defects or misrepresent known issues, especially those pertaining to structural defects, the existence of mold, evidence of termite damage, and roof leaks. You also must reveal any major electrical or plumbing problems.
Failure to disclose known problems with your home could spell legal trouble later.
Expect to Talk to Cash Buyers
Listing your home in as-is condition means you’ll likely meet cash buyers.
Cash buyers include real estate investors and private home buyers. If you end up under contract with a cash buyer, you’ll enjoy several benefits.
People like the folks at Cream City Home Buyers know one of the benefits is a quicker closing. Cash buyers don’t go through the financing process, which can shave weeks off the transaction.
Sell to a cash buyer and you won’t pay realtor fees—more money in your bank account.
No worry about legal issues either because your buyer assumes the liability. Remember, what we said earlier about the buyer signing those documents?
Selling My House as Is Sounds Like a Plan
We hope our short post about what you can expect when you sell your home as-is helps you sort a few of your questions. If you’ve told your friends and family “I’m selling my house as is,” you can now tell them you know what you’re doing (or at least you’ve thought about it).
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