Tuesday, October 22, 2019 / by Kylene Emery
You can absolutely sell your home as-is, but before doing so, there are a few things you should consider.
As-is doesn’t mean you won’t have to do anything! Most mortgage lenders require that a house not have structural, health or safety issues before they lend money to the buyers. This means you have to meet the very basic codes in your area, or you will have to only sell to cash buyers. Cash buyers often expect to buy at deeply discounted rates. If getting market price for your house is important to you, working to bring your house up to code may be worth it for you!
Next you need to know that disclosures are still required. Selling a house as is does mean “what you see is what you get,” but complete disclosure is still required by state law. That means that the buyer will get a report from a licensed home inspector outlining the problems, including problems that are not visible. When a sales contract is drawn up, the words “as is” need to be written clearly in the sales agreement, and the buyer needs to initial next to the words so that they cannot later claim that they didn’t know they were buying as is.
Finally, you still want to keep your house as clean as possible and get rid of any garbage or yard waste that may have built up. You want to still put your best foot forward with buyers, and this will really help show your home in its best possible light!
Selling a home as-is will hopefully allow you to sell without having to invest additional money in the property, but before you decide to take this route, you will want to consult with a real estate agent. They can provide you will a list of selling options, and together you can decide what will work best in your situation!