If you’re ready to sell your home but don’t want to put any work into it, you can sell it as-is. What this means is that the buyer agrees to purchase the property in its current condition with no expectations that you will fix anything.
The Difference Between As-Is and a Regular Sale
The difference between selling your home as-is and a traditional sale is that you won’t make any improvements. The buyer can still put in a request for repairs or updates in their offer, but the seller is likely to turn the offer down because they don’t want to spend the money. It also means they won’t lower the price to compensate.
With a traditional sale, the buyer can make an offer and include conditions. For instance, they may want something repaired or updated, such as new appliances. If the seller doesn’t agree to make these changes, they can counter-offer with a lower price. With an As-Is sale, the seller won’t lower the price and isn’t likely to agree to any work.
As-Is Doesn’t Mean Failure to Disclose
Even when you sell your home as-is, you must disclose certain information if you are aware of it. Each state has its own laws about what must be disclosed, but you can expect it to include structural issues, lead paint, and any defects in the roof, plumbing, or HVAC. The buyer has a right to know about these problems even if you don’t plan to fix them.
Buyers are Still Allowed an Inspection
The buyer still has the right to an inspection even if you don’t intend to fix issues that are found. The inspection just makes the buyer aware of problems they might not see on a tour. It allows them to decide if they want to put that much money into the property.
You Will Have a Smaller Pool of Buyers
Fewer buyers will be interested in a home that is being sold as-is. This type of property won’t appeal to buyers who want to move in right now and have no work to do. You are mainly looking at buyers who are looking for a cheap property that they can fix up and investment buyers.
Professional Cash Buyers aren’t Afraid of As-Is Homes
Professional cash buyers like Quick Home Offers aren’t frightened away by a home that is listed as-in. They are looking for deals like this, and they will provide a cash offer based on current value.
Just be aware that not all cash buyers are the same. You want to work with someone who has a good reputation for being transparent and fair. If you want to sell your home without putting money into it, contact Quick Home Offers for a fair cash offer in just 24 hours.