If you want to sell your home, but it has large issues you don’t have the time, money or desire to fix, you may consider listing your house for sale as-is.
Selling a home as-is can be a good strategy if you need to sell the home quickly, can’t afford the repairs, or want to attract a cash offer. However, it comes with some drawbacks you need to consider before making a decision.
In this guide, we’ll walk you though what an as-is sale really means — and what it doesn’t. We spoke to top-rated realty agents from all over the country in order to provide you with the most accurate information possible.
What does it entail to sell a house as is?
Although it is easy to understand, an as-is sale has some caveats. A house that sells as-is means that the seller typically isn’t willing to make any repairs or fix any issues that the home may have, and the home will sell in its current state. Let’s now get to the caveats.
You have to still reveal issues. Listing your home as-is doesn’t mean you can wash your hands of the property and say “you get what you get” Potential buyers. Sellers must disclose any issues that may be associated with the property under both federal and state disclosure laws. Typically, things like a leaky roof, the presence of asbestos, and issues with the HVAC system or foundation need to be listed on the seller’s disclosure. Sellers may also need to comply with specific state requirements.
You can choose what comes as is: Sometimes, the seller might not wish to list the whole home as-is. This is true if there are specific issues, such as the garage or pool area or for elements like a fireplace, broken appliances, etc. You can request repairs for areas not included in the as-is listing.
You can request repairs from the buyer: Even though the home is already listed as-is the buyer can still request an inspection and request repairs to any areas that were found. The seller has the option to negotiate and make the repairs, or refuse.
You can find more information at www.homelight.com