Featured News 2013 Selling a House “As Is”

Selling a House “As Is”

When selling a home, you may have the option to list the property "as is." This essentially means that you will well the home without making any repairs that are needed. Some buyers like purchasing fixer-upper homes in order to repair them and then sell them again at a higher value. If you choose to sell a home as is, you are essentially saying that you will not fix anything in the home.

You will need to make a disclosure on your listing claiming this, and stating clearly that you are selling the house on the as is basis. The only thing that the seller needs to do is to make sure that the buyer understands that they are buying the house as is, without repairs. This means that the buyer cannot hold the seller liable for any repair costs to damaged portions of the house.

If the buyer agrees then they will buy the house in the condition that it is in. Some buyers specialize in buying houses in this condition and then fixing them up to resell to another buyer. It is not cost effective to spend a lot of money on a house when you may not recover the costs in the sale.

There are several advantages to selling a home in "as is" condition. First of all, if you are in a hurry to sell the house, taking the time to renovate all necessary portions of the house will slow down the process. You may be able to make a faster sale by advertising the location as is. Some sellers will make expensive repairs and delay their time to sell, only to discover that they didn't even recover the costs of the repairs. If you are selling in a high demand area, then it may be best to just sell as is, as there is a high probability that someone will be interested in purchasing the home.

If you are selling your house as is, you can still make minor improvements to make the home more desirable. For example, you may want to replace worn out carpet, or repair a broken heater. You can also spackle the walls where there are holes from your personal photographs and such, and clear the clutter and improve the appearance of the location. Also, cleaning the house will often make it seem more desirable to potential buyers.

Most of the time, a house sold as is isn't sold too much below the normal price. Normally the seller will just need to give the buyer a small allowance for repairs and improvements that he or she will make on the house. If your house is in seriously debilitating condition, then you will have to lower the price significantly. Normally when a house is completely dilapidated it is difficult to even find a buyer.

If no one is interested in your home in its present condition, then you may need to make repairs in order to make the home desirable. You should also determine other reasons why it is in a stale sale conditions. These could include because you overpriced the house, because you failed to market the home well, or because the home is located in an undesirable location.

If you want more information about selling houses as is, a local real estate attorney can probably help you out. With the right attorney there to assist you, you will be able to get the advice that you need in your case. An attorney can also work in your defense if your buyer tries to blame you for defects in the home that you sold "as is."

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