The real estate market is hot right now. In fact, in 2021, Zillow expects 6.9 million homes to sell, which is the most since 2005.
So if you have a home you want to sell, it’s a good idea to do so now. The best-case scenario is that you have a home that’s in pristine condition, ready to sell.
But even if your home needs some TLC, it can still be a good idea to sell immediately. In this article, we’ll give you 4 tips and tricks for how to sell your house as-is.
Keep reading to learn more.
1. Price It Right
The first tip about how to sell your house as-is? Make sure you price your property correctly.
Because your home has some rough edges, potentially in both cosmetic and structural ways, you need to price it accordingly.
Think about it this way. If your home is in tip-top shape, with brand new appliances, updated cabinets, and beautiful new wood floors, the new owner isn’t going to have to update much after purchasing.
But if your home has an old roof that’s prone to leaks, a fridge that’s been in use for 15 years, and stained carpet throughout the house, the new owner will need to spend some money to update things after buying.
Because of this, you should lower the asking price of your home. Although your home is livable in the seller’s eyes, it will need some extra care in the future. Lowering the price of your home will help you sell it more quickly.
2. Be Honest
Next, when it comes to selling your home as-is, make sure you’re completely honest about the state of your home. Disclose everything that a future owner would want to know.
In some cases, homeowners selling an as-is property take the easy route and only write as-is on the disclosure form. But in today’s market, this lack of information isn’t going to cut it.
With so much competition in the market, you need to disclose more details about the state of your home. This way, your buyer knows what they are getting into, ensuring they don’t walk away before the deals go through.
Here are some of the issues you should include in the disclosure form:
- Foundation problems
- Air conditioner not functioning properly
- Leaks in the roof
- Flooding in certain areas of the basement
And these are just a few examples. The more honest and forthcoming you are, the better.
This is also important because if you as the homeowner know of some material condition to the home but don’t disclose it, the new homeowner can sue you after the fact. Avoid this legal liability by being transparent from the get-go.
3. Fix and Prepare What You Can
Next, it’s time to get to work. Just because you can’t fix all of the issues in your as-is home doesn’t mean you can’t take care of some things before listing.
Even doing a few things can help you increase the value of your home. And many of these tasks can be done even if you’re on a deadline to sell your property.
Start by cleaning. Get rid of any clutter or trash, both inside and outside the home. Try to get rid of major stains in the carpet, the sink, or the bathtubs, as these are often glaring issues.
Next, work on removing odors. See if you can use certain cleaning materials or air fresheners to help your home smell better. This can help a lot during showings, even if your home has other problems.
Don’t ignore the power of a strong first impression. If your home is tidy and as clean as possible, it will make the old roof and appliances easier to swallow. But if your home is a disaster, this will turn people away.
4. Use an Agent
Last but not least, when selling an as-is home, you should use a real estate agent. While the idea of listing your home on your own is appealing, it’s almost always a better idea to work with an experienced agent.
While you can sell a home as a “for sale by owner” home, these houses usually take longer to sell and often go for a lower price. So don’t be afraid of the commission charged by a realtor. In the long run, it’s almost always worth it.
This is especially true in the case of an as-is home. Real estate agents have lots of marketing tools at their disposal to help make less than perfect properties look as good as possible. They can also help you find your next home, advising on topics like the advantages of modular homes or the most affordable markets in your state.
They also know the best strategies for advertising homes based on your area and target audience. This often includes paid methods like social media advertisements or printed materials. But some agents can also generate strong interest simply by posting your home on their websites and other real estate search engines.
Another tool some agents have is the ability to work with mortgage lenders who specialize in as-is homes. In these cases, they can offer home rehab mortgages to those buyers interested in treating your property as a fixer-upper.
Know How to Sell Your House As-Is
There you have it: the top 4 tips and tricks for how to sell your house as-is. Now that you’ve read through these ideas, it’s time to get started.
Make a plan for your specific situation today. Contact a realtor and begin the process.
Want to learn more? Check out our blog for other tips and tricks.