Your Options When Selling a House “As Is”

A home that needs extensive repairs or has been inherited as part of an estate is often sold “as is”—that is, the owner doesn’t intend to make any repairs. The homeowners may not have the funds to pay for repairs or they need to sell the house quickly. If that’s the case, selling to a cash buyer may be the best option.

Why an “As Is” Home Can Be Hard to Sell

When no repairs are planned, the house is listed with the term “as is.” Many people interpret the phrase to mean “caveat emptor”—buyer beware. Anyone who purchases the home may have to spend thousands of dollars making the house livable. 

Many home buyers are already shopping at the top of their budgets and don’t have the extra money for repairs. They’re going to scroll right by a listing labeled “as is.” As the homeowner, you may wait months for an acceptable offer.

How You Can Lose Money on an “As Is” House

Even after you get an offer, an “as is” house can continue to cause problems for you. As part of the closing process, a home inspection will be ordered. The home inspector will make a list of all the problems in the house and any repairs that need to be completed.

At that point, the buyer can either request that you do the repairs or ask you for cash credit so they can pay for the repairs. This can result in your receiving much less money than you had originally planned.

Why You Can Come Out Ahead with a Cash Sale

The “as is” status of your home doesn’t bother a cash buyer. In fact, cash buying companies specialize in buying homes needing repairs, fixing them up, and then reselling them. You will never be asked to make repairs, and the amount offered is the amount you will receive.What’s more, there are no closing costs or commission charged.

Considering the risks and costs of a traditional sale, you could come out ahead by selling your home to a cash buyer. It’s quick and saves you the stress and worry about whether the home will sell. Within a week, you could receive a cash payment for the house.

Do you need to sell a home “as is” in the Sacramento area? Compare your options by clicking here.

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