If you are selling a home, you may have thought that you need to fix it up before putting it on the market. This is a common misconception. The fact of the matter is that there are many ways to sell a house as-is without having to do extensive or any repairs first.
But, how do you effectively sell a house at a fair price if it has a lot of issues? Check out our strategies below!
If you are selling your house “as-is,” it’s important that you obtain a professional home inspection prior to listing your home for sale. The home inspector will look for specific defects and problems, such as foundation issues and roof leaks, which should also be included in the disclosures.
Most home inspections cost between $300 and $500. That’s a small price to pay compared to losing a deal or being sued for failing to disclose a major flaw. Further, offering potential buyers a fully disclosed home inspection report shows that you have nothing to hide.
Once you’ve figured out what’s wrong with your house, you can get a cost estimate on fixing it. You don’t necessarily have to fix anything. However, if you get accurate estimates from local contractors, you can provide those to the buyer, and you’ll have more negotiating power if the buyer tries to bargain with you.
An agent can do a comparative market analysis (CMA) to ascertain what comparable homes to yours have sold for in your area. You can establish a reasonable price right away so your home will avoid staying on the market too long.
At Knoxville Home Team, you can request a home valuation for free. This way, you’ll know what to expect when it comes time to negotiate with a potential buyer.
Selling your home “as-is” doesn’t mean that you will not need to fill out disclosures for your buyer. You will need to disclose all material facts that you are aware of to your buyer after an agreement is reached. This way, your buyer will be aware of all defects in your home, so they are not tempted to back out later.
Additionally, having all of these reports in the hands of the potential buyers upfront will protect the listing price you select when putting your home on the market and make negotiating more difficult.
Your partner at the Knoxville Home Team will be able to provide you with all the disclosures you’ll need to be in compliance with state and local requirements.
Now that you know what to do, you should be able to set an appropriate price for your home in as-is condition. When you list your home, your agent can help you highlight its positive aspects, such as size, location, and floor plan, so potential buyers won’t just see flaws.
By knowing how to price your home confidently, you won’t have to worry about scaring off buyers or not getting a fair price. You’ve laid all your cards on the table, and there’s no bluff to call.
PRO TIP! Listing your home above market will net you less proceeds after the sale and will keep your home on the market longer. Choosing a listing price slightly below market will attract the highest qualified buyers possible and will net you more in less time. When buyers compete, you win!
If you don’t want to pay for repairs and want a quick, painless sale, you may decide to sell a house as-is. It’s perfectly acceptable.
The key to selling your house as-is lies in the details. Finding a Realtor who you can work with will save you time, energy, and effort.
The Knoxville Home Team can help get the highest price possible for your home. Please click here for our contact page, and we’ll reach out to you personally and promptly.
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