Selling a home as is gives buyers confidence in their ability to make an offer and close on a deal. It makes it clear to the potential buyer that the home is not worth fixing or improving, that it is not going to benefit the future of the homeowner and that it will sell on its own as is. Selling my house fast and as is also lets sellers know that they can still come up with a decent offer and close quickly.
Selling a home as is, however, means that the home is an older fixer-upper, that will not be substantially improved or repaired before it is sold. It usually tells potential buyers: What I see is what I get. Sellers who list homes as is will usually charge buyers higher prices to get it into their homes and to close fast. The property has been listed and marketed as is priced to sell fast for sellers only to get it priced lower and sell faster to save more money. A typical selling price for an old house is about two times the actual value of the home, sometimes more, and if it is listed by someone who is not well-known it could cost even more. A seller who offer the home as is can get it priced much lower than this, but it takes a long time to negotiate, especially for buyers who are not experts in the real estate business.
Another downside of listing homes as is the potential for buyers to feel that the home is substandard. If they feel this way, they may have buyer’s remorse, which means that they will take a pass on buying the house. This is not usually the case; buyers are just used to dealing with homes as they are. However, this is not always the case with older houses. Some sellers will attempt to repair the home or renovate it before listing it as is in order to earn more from their listing. But when they do this, they end up having the house priced too low.
One thing that many buyers don’t consider is that listing a home as is actually devaluing the fixer upper. By selling it as is, the home will have more value than if it were to be fixed up or repaired. And if the home is in poor condition, a buyer may have less confidence in buying it in the future. When buyers see an old home as being offered for sale as is a bargain, the value tends to go down.
If you are planning to list your home as being a fixer upper, you should consider the following tips. It is important to first inspect the house. Look at all the rooms to see if there are any structural issues that will keep it from functioning well, such as faulty doors and windows, siding, ceilings, pipes and roofing. You should also consider checking out any leaks, cracks, holes, holes or loose paint to see if there is anything that will cause the house to deteriorate over time.
You should also think about adding on to the home to bring in more buyers, such as a new deck, garage, fenced yard, garden, landscaping and more to make it appealing to buyers, especially buyers looking for a bargain. The value of the fixer upper decreases when it looks worn out, so adding these features can boost the value significantly.