“Selling your home as-is” does not mean you have to hide defects. If your roof is leaking or you have to redo the entire plumbing system, you’re not using this “loophole” to avoid telling buyers you’re not willing to spend the money to repair it. You can still set a reasonable price without scaring off potential buyers. Selling your home “as-is” also means you should avoid a buyer who is looking for “move-in ready” properties.
Selling a home “as is” isn’t a loophole to avoid telling buyers your roof is leaking or the home needs all new plumbing
While selling a home “as is” is a way to sell for less money, it can be a frustrating experience. In the process, you’ll likely encounter fixer buyers who try to take advantage of you. If you’re planning on selling your home soon, you should consider selling it “as is.” However, before selling a home “as is,” consider negotiating repairs.
While selling a home “as is” may make you feel tempted to not tell buyers that your roof needs replacement, it’s also important to disclose major and minor problems. A home inspector can help you determine whether the items need to be fixed or replaced. A seller must disclose any mechanical or environmental hazards that will limit the buyer’s enjoyment of the home.
Setting a realistic asking price
Setting a realistic asking price for your home is crucial for attracting a potential buyer. While some sellers will resist lower prices, others may opt for an agent who sets a higher asking price. In either case, setting a price that is too high will only result in an empty promise. While some sellers might choose an agent with a higher asking price, you should never make that mistake.
In addition to preventing costly repairs, setting a reasonable asking price when selling your home as-is can also help you gain more interest from buyers. Buyers may assume that the house has defects because it is listed as “as-is.” In fact, this designation can turn off many potential buyers. The buyer will most likely want to hire a home inspector to ensure that the house is safe and sound. Moreover, if the buyer plans to get a mortgage, he/she will be required to have the home inspected by the lender before lending money for the purchase.
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