What Does it Mean to Sell a House “As Is”?
A house that’s being sold “as is” means that the owners are selling the house in its current condition without any repairs or renovations. An as-is house can range from having outdated cabinets to having extensive damage. The exact condition of the house will depend on the situation. Essentially, selling a house “as is” is a signal to potential buyers that the house has a few things to fix and a lower price tag to match.
Is It Worth It to Sell My Home As Is?
When the time comes for you to sell your house, you’ll likely wonder if it’s worth it to renovate your entire home. You’ve heard of other people selling their house “as is”; would it work for you too? The idea is appealing, especially if you have a long list of repairs and improvements you’ll have to make before the house is ready for sale.
Advantages
Selling your house “as is” has several advantages that make it an attractive course of action.
- Save time. Once you decide to sell your house as it is, you don’t have to spend time making repairs and improvements. You won’t have to wait until you finish everything before you can list your home.
- Save money. Saving money goes hand in hand with saving your time since you won’t need to put your money into renovations. You can put that money toward your new house or other essentials like new furniture.
Disadvantages
Of course, there are some drawbacks to selling your home “as is.”
- Fewer potential buyers. Most homebuyers aren’t looking for a home improvement project when they decide to buy a new home. If they’ve sold or are in the process of selling their home, they’ve likely done their fair share of home repairs and renovations and aren’t looking to do more. You’ll have a limited number of potential buyers who are willing to put in the work for a house, but even some of those buyers will decide it’s not worth the effort with your particular home.
- Lower bids. Potential buyers will take into account the costs of repairs when they give their offer. The bids you do receive will be lower than those for comparable, fully renovated homes.
Depending on what’s most important to you—selling your home sooner or getting more money—selling your home “as is” might not be the best option for you. You should also consider the overall costs for the repairs. If making all the repairs will return slightly more money than you put into it, you must decide if the time and effort are worth the work. If you choose to sell your home with the help of a realtor, reach out to Heber City & Midway Real Estate.