Many people choose to sell their homes as-is, and there are both benefits and drawbacks. With more than 5.6 million homes sold in 2020, buyers have plenty of choices when choosing an existing home on the market and the condition of those homes.
If you want to sell your home as-is, does it mean you’ll get quick cash for selling your home? Does it mean you won’t get enough money when you sell a house?
Here are the benefits and drawbacks should you choose to sell your home as-is.
Benefits When You Sell Your Home as Is
If you ask yourself, ‘I want to sell my house as is,’ realize you could benefit financially. If you are looking to sell your home quickly, this might be a great option when selling your house.
No Renovations or Upgrades
If you sell your house as-is, you are not making any renovations or upgrades. You likely won’t even paint the walls a new color. These renovations are quite costly when you sell a house, saving you bundles of money in upfront costs.
Your Land Is Valuable
In some cases, you may want to sell your home quickly because the land is more valuable than your home.
Perhaps a developer wants to pay you quick cash for selling your home, so they can put up new development. This could mean getting more money than you anticipate when selling your home.
Most people looking to buy your house ‘as is’ will want to flip it for a profit. When selling your house, you may get multiple offers. This could drive up the price and get you quick cash for selling your home.
Drawbacks When You Sell Your Home as Is
There are several reasons you may not want to sell your home as-is. It’s a decision-making process you’ll want to talk about with your real estate agent and perhaps others who own the home.
Buyers will seize on you selling your home as-is and look to exploit its condition. They will lowball you with any offers as you are selling your house. Because the house is in poor condition, you lose a lot of leverage when you are selling your house.
Fewer Prospective Buyers
Many buyers won’t even bother to look at a home for sale if it’s in bad condition. When you are selling your home as-is, expect fewer prospective buyers. If you are looking to sell your home quickly, this could complicate the process.
The Benefits and Drawbacks if You Sell Your Home as Is
If you choose to sell your home as-is, there are benefits and drawbacks. Benefits include no costly renovations or upgrades, the land being more valuable than the home, and buyers looking to flip the property. Drawbacks include lowball offers and fewer prospective buyers.
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