The housing market is booming, with an estimated 6 million homes sold in the last year alone. There has never been a better time to sell your property. Yet what do you do when you don’t want the hassle of renovation and staging the home for sale?
The answer is to sell the house in its current condition. Read on as we give our essential guide on how to sell a house as is.
Where to Sell As Is
When you decide to sell as is, you have two options. The first is to sell on the open market, and the second is to go straight to a pool of ‘as is’ buyers. We explore both options below.
Selling on the Open Market
Selling on the open market is the traditional home selling route. You choose a real estate agent, or in some cases decide to sell it yourself. It is then advertised, listed, and buyers come to view the property.
Hiring an Agent
An agent can be worth their weight in gold. They will organize communications, contracts, and market the property for you. Agents will also have a network of buyers, sellers, and other agents that you do not have access to, getting news of the listing out there fast.
The downside is that you have to pay a sizable fee upon the sale. If you are listing a property that needs work, you will already be taking a hit on the price.
Getting a Cash Offer
If you don’t decide to go the open market route, you can go straight to a pool of cash buyers. These people are usually buying houses at low prices, to renovate, then sell for profit later. As they renovate, it does not matter what state the house is in.
The benefit of this is that you end up selling a house fast. No mortgage chains are there to hold you up. Very often, the whole deal can be done within a fortnight.
Of course, this comes at a financial cost. These offers will always be lower than if you had fixed the property up or even sold on the open market. This site will tell you about the benefits and give advice on this method.
Listing When Selling a House As Is
When you list your home for sale, there are a few tips you should follow. This ensures that people understand what is on offer, increasing the speed and cutting down on wasted time.
The first step is to make sure you clearly list the home as is. This ensures that a buyer knows what they see is what they get. While they may still order an inspection, you can stipulate that no repairs will be made.
Another is to disclose everything about the property. If it has problems, then let people know. Adjust the sale price accordingly, and you are being fair and above board with the sale.
Marketing an as Is Property
If you hire a real estate agent, they will do the marketing for you. Many people who sell as is decide to go it alone, and that means marketing the property yourself. This can often be as time-consuming as doing the repairs.
While you should be transparent and honest when selling a house as is, you can make the listing more attractive by focusing on the positive aspects. Perhaps it is a character property or comes with a large lot size.
Though it may be a hard one to predict, make sure you get the price right. Check similar properties in the area and see what they are selling for. After this, deduct the price of what any major renovations and repairs would cost, and you should have a ballpark figure.
Finally, get linguistic in your approach. Pack the listing with keywords and phrases that will attract attention.
Selling a House Tips
Even when selling as is, there are a few projects that can help bump up the value or increase selling potential. These are generally easy projects that cost little money, but have a high return on investment.
Increase Curb Appeal
Curb appeal is a term used by real estate agents to describe the first view visitors have of your property, often from the curb. It is important, as many buyers will make a decision in these early moments. You need to grab their attention to make the possible sale.
You can do this by investing in your yard. Simple tidying, lawn care, and the addition of flowerbeds and plants will add a marked improvement.
Paint the Interior
A fresh coat of paint can make a home look vibrant and new. It also costs very little and the labor is minimal. With the right preparation, you could have it completed within a weekend.
The trick is to paint the home neutral shades of white and grey. Doing so strips the personalization and allows visitors to see what their own stamp on the home would look like. This increases the likelihood of a sale.
Another tactic that can be done on a weekend is a deep clean and declutter. Even the most dilapidated of houses will look much better after this.
Start with the declutter. Sort items into piles that can be stored, ones that can be sold or donated, and a final one for the trash. You may even want to hire a storage locker to remove your home items while you are in the process of selling.
After this, perform a deep clean. Concentrate on bathrooms and kitchens, making sure you get into and around appliances. You may consider hiring a housemaid service to do this for you.
How to Sell a House as Is
Now that you know how to sell a house as is, you can start the process. Decide on the best method for you. After this, begin the search for cash buyers or a good real estate agent.
If you found this article informative, we have many more to help. From property to finance, we can get the most for your money in the coming year.