You want to sell your home and are a bit short on cash, so a thought pops up in your mind “can I sell my home as-is?” What do you do when you want to sell your home fast, but it is in a poor state and making extensive repairs is not an option?
The short answer is yes; you can sell your home in its current state. If anything, there is a market for as-is home sales. For instance, a fire-charred home in San Francisco Bay Area sold for $1 million in 2021. Take a look at how you can go about selling your house as-is.
Should I sell my home as-is?
A home sold “as-is” in real estate means a sale in its current condition. Buyers interested in purchasing your home should expect to conduct some repairs before moving in.
You may not experience a return on investment if you renovate anyway. Studies show that even significant remodels offer only about 51% ROI. That considered, you should sell as-is if you find yourself in any of these situations:
1. You’re in a hurry to move
Some situations, like a new job offer or a sick relative, may force you to move fast. In this instance, you do not have the luxury of time.
2. The house needs major repairs
You can make minor repairs like a new paint job or fix an appliance. However, you may not have the funds to make massive repairs like replacing roof shingles or repairing cracks in the foundation, which are costly and take forever to fix.
3. The house isn’t worth much
It would be best if you found the value of your home before attempting to sell. Sometimes you’ll find that the house is worth less than you’d thought. It may be financially prudent to sell as-is if the home’s market value, even after the renovations, doesn’t justify the extensive repair bill.
Tips on marketing a fix-upper home
If you still believe selling the house as-is is the best approach, do the following:
- Focus on the positives: What are the house’s most attractive features? Is it in a prime location? Or does it have a great floor plan? Whatever it is, highlight these features as they are the major selling points.
- Price your house accordingly: First, you need to know whether you are in a buyer’s or seller’s market. You can also hone in on the right price by looking at the recent sales of similar homes within the same area.
- Choose the right keywords: Think of the features homebuyers appreciate and use the exact eye-catching keywords when listing your property. Words like landscaped, upgraded, and spotless will likely catch a homebuyer’s attention. However, only use such comments if the house matches the description.
Sell to a reputable real estate investor
There is a greater chance of selling your home faster when using a real estate agency than selling the house yourself. Statistics show that For-Sale-By-Owner (FSBO) sales accounted for only 7% of recent home sales.
Choosing to sell to a real estate investor allows you to transfer the cost and responsibility of repairs to them. Additionally, you get to sell your home fast.
Sell My Home As-Is to Next Level Home Buyers (NLHB)
The answer to the question, “can I sell my home as-is?” is yes, you can, and we’ll help you do it. NLHB will purchase your home in any situation, so you won’t have to worry about making repairs.
Call us on 860-368-0343 or fill in our contact form to sell your home in a Fast and Fair home-buying process. You will have your cash within a week of accepting our offer.
WE BUY HOUSES IN ANY SITUATION:
Behind on Payments
- Death of a loved one
- Liquidating assets
- Inherited property
- Job loss
- Bad mortgage
- Medical Bills
- Extensive repairs