You want to sell your house fast. We get it! Thinking about selling your home as-is? Below you’ll find a helpful video, plus tips, pros and cons.
Selling a home “as-is” can be a practical solution for homeowners looking to save time and reduce stress. However, this approach has distinct pros and cons, from simplifying the process to impacting buyer perception. Jannis Sams at Cleveland Chattanooga Homes has created this video to help you look at the benefits and drawbacks of selling as-is, along with essential tips to make the most of this strategy.
Expert Tips for Selling As-Is
There are pros and cons for each situation. Sellinga home as-is might provide you with less stress because you can get your money quicker and you would have your money then to move or do whatever you’re wanting to do. However, when a buyer’s looking at your home, they’re looking at it with all the bruises and all the flaws. They’re going to be estimating what it’s going to cost to fix those items. If they think it’s going to be $10,000, it might only be $5,000. They always estimate high when factoring in repair costs.
Also, when you advertise “as-is”, the buyer might assume there is something wrong with your house almost immediately. There’s probably nothing wrong with your house. You just don’t have time to do the repairs. Here are some pros and cons of selling as-is:
Pros of Selling Your Home As-Is
- Quick Sales Process
Selling as-is allows for faster transactions since you don’t need to complete repairs, making it ideal for those needing quick cash or immediate relocation. - Lower Upfront Costs
Avoiding repairs means you won’t have upfront expenses for renovations, which can be costly, especially for older homes. - Less Stress
Without needing to handle repairs, the selling process is more straightforward, allowing you to avoid the hassle of organizing and overseeing projects. - Attracts Investors
Homes sold as-is often attract real estate investors or buyers looking for a project, who may pay cash, leading to a quicker, hassle-free sale.
Cons of Selling Your Home As-Is
- Perceived Lower Value
Buyers often assume as-is properties have significant issues, which can reduce your property’s perceived value and lead to lower offers. - Fewer Buyer Offers
Many traditional buyers may avoid as-is listings due to the fear of hidden issues, which limits your buyer pool. - Price Negotiations on Repairs
Buyers will likely estimate repair costs, often on the high end, and factor this into their offer, which could significantly reduce your sale price. - Inspections May Still Be Required
Some buyers might require an inspection even with an as-is sale, potentially leading to requests for credits or price reductions.
Want to sell “as-is”? Get a pre-inspection for building trust
However, if you are going to do it “as-is”, then I would recommend that you have a pre-inspection so that the buyers can see the items that really are wrong, and they would trust you for going that extra step. They would know that you’re communicating anything that’s wrong with the home and then they might make a better offer as well.
I think you would be surprised at what a little bit of fixing can do to your bottom line. I wouldn’t do major overhauls like replacing the kitchen or the bathrooms, but a little bit of fresh paint, decluttering, landscaping, cleaning the carpets, and moving furniture around – those things can help. It can make a home look so fresh, and the buyer thinks they’re getting more value. You might want to think about doing a little bit of work to it, that would certainly give you more money. But ultimately, it’s your decision.
Minor Updates like New Paint and Landscaping Can Increase Value: Choose Repairs that Add to Your Bottom Line
If you want to do the sell as-is and sell your home without repairs, we’re here to help you with whatever decision you make. The right person’s going to come along and fall in love with your home, and if you’re selling it “as-is”, then they’ll want to buy it and make it their home and do the repairs themselves. If you’ve already done the repairs, they’re going to fall in love with it because they don’t have to do any repairs, and they can just move right in.
It’s your decision! At Cleveland Chattanooga Homes, we are all about giving you options. We know that you want to sell your home as fast as possible and are here to help. If you have any questions about selling as-is or short sales, give us a call at (423) 503-2945. An experienced agent like Jannis Sams with 30 years of experience in the Cleveland, TN real estate market will help you price the property competitively, navigate buyer negotiations, and target the right buyers, whether they are investors or those willing to take on minor repairs.
Here are some of our homes at Cleveland Chattanooga Homes. Check out more of our current listings here ➡️
