Should I Sell My House “As Is”?

Should I Sell My House “As Is”?


Hi guys, I’m Denise Schilling, real estate agent, and
I work with a lot of investment properties and properties that are going
through probate and I get this question a lot. Should I sell my house “as is”? I’m
going to give you a short answer with a couple of pros and a couple of cons to
help you make that decision. The first thing I’m going to ask you is is it
cosmetically out of date or is there some serious deferred maintenance on it?
There are simple things that you can do to update the house without having to
sell it “as is” that can add value to it. If there is serious deferred maintenance in
the house then you might think about selling it “as is” if you don’t want to
put the work into it and that would be a pro to selling it “as is”. You don’t have
to put any work into it; you don’t have to hire anybody to come fix anything. The
cons are you’re going to sell it for less and usually less than the money that you
would put into it to fix it up. Anybody who’s gonna buy it to fix it up are
going to not only expect to get the money back to fix the place up but they
want to be compensated for the time and energy that they’re also putting into it.
For instance, if you have a house where the comparables are $300,000 and it
probably needs $50,000 worth of work. Don’t think you can sell it for $250,000. It’s probably going to go less than that. Whomever
buys it is going to put the $50,000 in it and then they’re
going to want to be compensated for their own labor that they had to put into
fixing up the house. Selling your house “as is” you’re going to get lowballs.
You’re going to have investors contacting you, they might even call the
second it goes in the MLS, they may never have seen it and
they’re putting an offer on it for half of the list price. That’s just the name of
the game don’t take any of that offensively. Also keep in mind even
if you plan on selling it “as is” and not making any repairs, you still have the
legal obligation to disclose any known defects or issues with the house to the
buyer. Selling it “as is” does not get you out of that responsibility…disclose,
disclose, disclose. That’s a shortened answer to that question but
really it comes down to what is more important to you: do you want to not worry about
making repairs or do you want to get every penny
that you can out of the sale price? Ask yourself those two questions and
that’ll probably tell you if you want to sell the house “as is” or not. If you found
this at all helpful or if you have questions, comment below. Subscribe for
future video content and I’ll see you next week.

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