- February 14, 2022
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You may have heard the sale of a home referred to as “as is”. What does that mean? Basically, it means any work that should or could be done on the home – i.e., upgrades, updates, repairs, etc. – won’t be done. The house will simply be sold as it sits. People sell their home as is for various reasons. What’s more, a home doesn’t necessarily have to be in poor condition for someone to sell it as is.
To sell a house as is offers many benefits to you, as the seller. You’re not going to provide any warranties, you’re not going to make any repairs, you don’t have to worry about asbestos, bug infestations, or if your home has received a code violation. You’re not going to be sinking any extra money into your home. You’re simply going to make money from the sale of it.
Keep in mind that you will, of course, still need to disclose anything you’re aware of like roofing leaks, faulty fixtures, asbestos, bug infestations, etc.
With all of this said, let’s look at the most popular reasons for homeowners selling a home as is.
Sorting Through Potential Buyers
It’s pretty clear that no negotiations will be dealt with if someone is selling a home as is. If a buyer is purchasing this type of home, they’re not interested in negotiations either. People who aren’t serious about buying will be weeded out in the process.
Financial Troubles
It may be more reasonable to sell a home as is if the person or family selling it is experiencing financial distress. To secure the funds they need, immediate sale of the house will be of assistance.
Then again, they may just wish to move to a more affordable home and downgrade their lifestyle. They’re simply interested in getting rid of the house as is so they can move on and have some cash with which to do it.
Less Stress
Let’s face it, selling a home can be very stressful. Not having to worry about making upgrades, repairs, updates, and more can take much of the stress off a home seller’s plate. No negotiations as to lowering the price because something doesn’t work – or fixing it and then getting your selling price – will have to be dealt with.
The Housing Market
Possibly surprisingly, a fixer-upper market is actually supported by the recent real estate market trend. People can’t afford high priced properties, no matter how many of them are on the market. It’s more attractive for some buyers to buy a fixer-upper in today’s competitive market.
Some people just love to fix up a home.
In other instances, you may be able to sell your home as is to a real estate investor or home buying company. They buy “as is” homes for cash and worry about what needs to be done to it later.
Repairs
Depending on the repairs, upgrades, updates, etc. that need to be done to a home, it can end up being an astoundingly pricey endeavor. People may not want to spend the money for renovations and repairs. Even if they can afford it, they may simply not want to deal with the hassle.
Selling a home “as is” means that someone else is going to do all the worrying about repairs, updates, code violations, improvements, etc. It’s not the problem of the seller anymore.
Sell Your House As Is to Modern Feather Properties
Modern Feather Properties is located at 536 Vidalia Court, in Haslet. Call 214-531-3310 to speak with a representative. If you prefer, email us at josh@modernfeather.com.