Selling “As Is” is Risky Business
When most people prepare sell their homes, they try to spruce it up to attract a new buyer. This may mean a little painting, decluttering, and staging or could go into more major things like replacing the roof or the carpeting. Despite all the press about how competitive a seller must be in this market, some still cling to the idea of “why should I fix this up for someone else?” They want to sell “as is.”
Ideally, sellers should have a game plan years in advance and schedule improvements that provide family enjoyment and good potential resale value. Things like decks, modernized kitchens and baths, and finished attics offer a nearly dollar-for-dollar return at resale. (This assumes they were not done 30 years ago and are now out of date!) Additions and renovated offices may serve the seller’s needs but don’t translate into as high return at selling time. Amenities like pools may even be deterrents to buyers.
But then…
Many people live in their homes without any plans of moving on, so undertake projects as time and money permits – or not. Then, life happens. A job transfer, a divorce, an empty nest, a change in health, unplanned love of a home in a new development… Suddenly, moving is a priority. When they want to go, selling the house “as is” seems like a great idea.
It is true that new buyers come in with their own ideas of how they want to decorate. Most potential buyers look at any home and think about what they would do in the future. This does not mean they want to pay top dollar for a home with” possibilities“ – and green shag carpeting, harvest gold appliances, and disco mirrors in the basement just won’t cut it.
What to do on a budget…
A good Realtor® will help the seller sort out what needs to be done. If the sellers are on the verge of foreclosure or bankruptcy, major renovations are probably out of the question as they are too cost. The seller still must still do the basics of cleaning and painting the house to give it fresh look and then work with his Realtor® to price it aggressively. The Realtor should prep the seller for a low offer and more time on the market.
For people who need to sell, Express Realty Services can sell your house fast. There is another answer. Our sister company Express Homebuyers can buy your home outright with no closing costs.
Tags: buy a home fast, good time to buy a house, help selling a home, Homebuying in today’s economy, Real Estate Market