Monday, August 4, 2014

Home Seller Tips: Why make any repair when selling "As Is?"

I am not a big fan of "as is" listings because in the real estate world most buyers consider a property being sold "as is" to be a property with real "problems."

Still, there are a couple of scenarios when I recommend no repairs be attempted before selling "as is."

One of these is if a property is in such disrepair that the most likely buyer will be an investor  then consider "as is" without any repair.   Another time might be if the seller's financial situation restricts expenditures for repair then an "as is" without repair option is a reasonable step.

However, for the most part, I recommend some repairs (even when finances restrict ability some) be made to properties before listing even if the intent is to sell "as is" without repair

What kind of repairs?  After all, "as is" means take where it sits like it sits, right?

First, address the easy fixes before selling.   Some of these repairs are the little annoyances home owners very often live with.

Think of your likely buyer.  What will they expect to find in a home like yours, priced like yours?

Finally, consider if your buyer will be getting financing.   Different types of financing require different condition states (minimum property standards).  Conventional loans, VA and FHA may allow different "issues" although they pretty much share the same basic security, safety/health and soundness standards.

The more options available for buyers to finance then the larger the pool of potential buyers. Also, repairs will likely reduce the time your home sits and increase the amount of money you get.

When you are ready to sell do all you can to make your home the best it can be - even if you are selling it "as is."

Finally even if you are offering your home "as is" think about offering a one year home warranty.  Better yet, list your home with me and I will provide the buyer a one year home warranty.

Selling your Melbourne or Viera, Florida home?  Call me at 321-693-3850 for your free market analysis and no obligation seller consultation.
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