5 Tips For Selling a House As-Is
Renewed Homes is a local real estate investment company in West Michigan that purchases homes as-is, and in cash, regardless of the state of the home or the repairs necessary. We purchase homes in need of a new roof, siding, plumbing, HVAC systems, foundational restructuring, and just about any other repair you can think of.
We’re always looking for new investment opportunities, and if you feel that your home might be a fit for us, please get in touch! If you’re interested in learning tips and tricks for selling a house as-is, just read on!
1. Do Careful Market Research
When you’re about to sell your home, the first thing you should do is perform market research in your local area. Helpful real estate market information can be obtained from various local and national real estate websites.
You’ll be able to figure out how the market is currently positioned (if it’s a home buyer’s or seller’s market, what the current average timeline is for selling a property, etc.) and will be able to anticipate how long it will take you to sell.
Also, when you research the average price of homes selling in your area (specifically ones that are considered flippers or fixer-uppers), you’ll be able to get an idea of what price you can list your home for.
2. Inspect and Disclose Everything Before Listing
One of the best things to do before listing a home for sale that needs repairs and maintenance is to complete a pre-inspection. Disclose everything that’s found on the report in your listing.
As we said, you’ll likely have to lower your price when you do this, but that isn’t necessarily a bad thing! You can market your home as a fantastic opportunity for investors, flippers, and fixer-uppers. After all, people love a good bargain!
3. Determine Cost Estimates for Potential Repairs
We know, the whole point of this blog is to teach you how to sell your home as it already is, but we still suggest getting accurate price estimates for potential repairs. This doesn’t mean that you actually need to go through with fixing anything, but it’ll be handy to have in your back pocket.
When you get estimates from contractors for repairs and updates, you’ll ultimately have more negotiating power if/when buyers try to lowball you. When they see that your home needs a major fix, you can confidently know how much it will cost.
In addition, after getting the estimates, you might find that some repair costs fit within your budget. If you decide to make the changes, you’ll have a better chance of walking away with more money at closing time.
4. Include “As-Is” in Your Home’s Listing
When you sell a house “as-is,” it means that you won’t be spending any time or money on home improvement or repairs. What you see is what you get in this situation.
Although the prospective buyer knows that they’ll be purchasing the house as it stands, they might still request a home inspection. If this happens, your agent must set the expectation that no major repairs will be made.
Always note that when you sell a home as-is, you’ll most likely have to accept a lower sale price. This is the trade-off for not spending money on updates and repairs before putting the property on the market.
5. Pick a Realistic Price When You List
We’ve talked about picking a realistic price to list your home at. It’s not just about determining what the defects are though, it’s about knowing all the positive things your property has going for it too so you can reach the highest price possible.
This is where your market research will come in handy. You’ll know how to set an honest price based on the pros and cons of the property. This way, you won’t have to fear scaring off buyers or not earning your fair share.
Renewed Homes is Here To Help
Are you hoping to sell your West Michigan house as-is? We can help! Here at Renewed Homes, our experienced team purchases homes for cash — no matter the condition they’re in. To learn more about our process, give us a call or contact us online today. We’d love to hear from you!
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