Thinking of selling your home “as-is?” Consider these 2 factors before making a decision.
"As-is" is a solution when you have a lack of funds for repairs and for sellers who need to move quickly, such as for a job relocation or any other urgent reason. Be aware, however, that "as-is" condition mentioned in a listing can raise red ags with both buyers and their agents. Let's take a look at two things to consider if you're thinking of selling your home "as-is."
1. An As-Is Home Shrinks Your Buyer Pool
"Today's home buyer is drawn to a clean, bright, move-in ready home," according to a nationwide real estate conglomerate. "Sweat equity doesn't have the appeal it did 20 or 30 years ago," they add. Then, there are the lenders. FHA-backed mortgages demand that certain work be performed before lenders can approve a loan. By selling "as-is," you'll drain the pool of rst-time buyers.
Middy Matthews
Licensed Real Estate Agent
734-239-3796 734-436-3433
Move with Middy
Even buyers obtaining conventional loans may be dissuaded from viewing the home because many lenders may demand repairs. This is especially true if what needs repair or replacement is a bigticket item, such as a roof.
2. An "As-Is" Home May Not Sell for the Price You Want
"Invest in distressed, xer-upper homes," one website for real estate investors recommends. Why? Because they can pick them up for "under market value." You most likely understand that a home that needs work won't get market value in a sale. But it may not even bring what you're hoping. We discussed the depletion of the buyer pool, so now it's time to consider who is left bobbing around out there. The answer to that is "bargain hunters." This group includes investors and those willing to put some work into a home. So, be prepared to potentially sell the home for less than you'd imagined.
The More Group
Before you make the decision on whether or not to list your home "as-is," let's talk. If your property is now listed with a REALTOR® or Broker, please disregard this offer, as it is not our intention to solicit the offerings of other REALTORS® or Brokers. The information contained herein is deemed reliable but is not guaranteed. ©ProspectsPLUS!, Inc. www.prospectsplus.com