As with anything, selling as-is has its own upsides and downsides as well. Recall selling as-is refers to where you sell your home in the same condition that it is in without making any repairs, improvements, or changes.
Before making a decision whether or not to sell as-is, reviewing the upsides and downsides and then pitting them against each other is crucial. This is because this action can enable you to make a more informed choice depending on your situation.
Pros of Selling As-Is
Here are the upsides to selling your house as-is:
Simple Process
Selling your home as-is allows you to skip all the ‘bureaucracy’ that comes with selling your house through traditional means. So, you have no business with the mortgage approval process that the buyer would have needed, and you go straight to closing.
Of course, you would probably negotiate with the buyer. The basis of negotiations would be the estimated value of the property after negotiations. So, you have a basis for determining whether you’re being offered a fair deal.
In addition, since there are really no deal breakers for the buyer, you can be guaranteed to get an offer for your property.
No Need for Repairs
Repairs and renovations can be a nightmare for homeowners for several reasons. They cost a lot and are rarely ever completed within the estimated timeline. In addition, certain repairs may require that you vacate the property entirely.
This is a pretty stressful process and is sometimes just not worth the stress. Selling as-is allows you to skip repairs and renovations and go straight to making the sale. So, you don’t have to worry about hounding down contractors to keep on time.
Another major mention that you shouldn’t forget is that payment for repairs comes out of pocket. So, you may be forced to spend thousands of dollars on fix-ups. There’s a chance that you may also exceed whatever you have budgeted and end up scrounging up money intended for other purposes.
When you choose to sell as-is, you can bid this stressful process goodbye.
Cost Savings
You might not realize it, however, following the traditional route, the fact that you’ve listed your home for sale doesn’t imply that the cost of home ownership stops. For as long as the home remains unsold, you would still have to make property tax payments, home maintenance, and various other miscellaneous expenses.
Combining these payments with say, repair costs, for instance, can dig a deep hole in your finances or even plunge you into debt. An effective strategy to avoid this is to go right ahead and sell the house as-is. The simple process and zero repair requirement allow you to offload the house quickly and stop paying these bills.
Rapid Sale
The rapid sale that happens when selling as-is is a culmination of several factors. For starters, you’re not making repairs, so you can put it up for sale fast. Next, you don’t have to get your home appraised or inspected, which further speeds up the timeline.
A local buyer outfit like ours closes in 7 to 21 days — which can either be sped up or extended, depending on your preference. This goes to show just how fast you can sell your house.
So, if you’re looking to sell your house in the San Francisco Bay Area or even sell my house fast in the SF Bay Area, selling as-is should be your go-to. Recall that you can sell your house in any condition.
Can Get a Property Off Your Hands Quickly
Selling as-is is a rapid process and requires very minimal involvement compared to other methods. The entire process of trying to fix up a property can be a hassle if you don’t have the time or money to spare, and you just want to get it off your hands.
For instance, an inherited property. You have no desire to retain the property, nor are you interested in the long process that accompanies a conventional sale. So, if you’re looking to sell my inherited property fast, or sell my house for cash fast, then you should consider selling as-is.
The upside is that you can literally leave the house exactly as it is. No decluttering, no cleaning, no arranging — exactly as-is.
Cons of Selling As-Is
Here are the perceived cons of selling as-is:
Low Price
This is one of the main concerns of many sellers. First off, commanding a standard market price doesn’t work because of all the repairs and renovations involved. However, in spite of this, you still want to be certain that you’re getting a good deal on your house and there’s a way to confirm this.
Opt for a local cash buyer that calculates the value of your property based on the estimated value after it’s been fixed up, rather than its present state. So, even if I want to sell my house fast SF Bay Area, getting a buyer who uses this metric is crucial.
Furthermore, the other several benefits such as the simple process, cash offer, cost savings, and the fact that you don’t need to invest further in the property are other incentives.
Fewer Buyers
There are not that many options for buyers when it comes to selling a house as-is. The everyday potential homeowner wants a home that has been fixed up with the most modern fixtures and is ready to be moved into.
So, trying to convince them to see potential in your property can be a hassle. In addition, most of these buyers would be using mortgages, and upon inspection, the mortgage provider may consider your property not a viable option.
This could result in your house staying on the market for a long time. However, opting for a local buyer can effectively put this matter to bed. So, if you’re looking for how to sell a house fast, selling as-is is still an ideal route.
Final Thoughts
Regarding selling as-is in most situations, the pros outweigh the cons which implies that it is in fact an excellent alternative. However, you must review this in light of your own situation. Ensure that it works for you, and if you’re certain it does, reach out to a local buyer.
