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  • msmithre

Can I sell my house "as is"?

Updated: Mar 30




There are many people who own a home or have inherited a home and ask the question, can I sell this house "as is"? The short answer is yes, the longer answer leads to questions: Do you really want to? Would I make less profit? Would I have less buyers? What is the true condition of the home?.....etc.

Depending on the condition of the home and any necessary repairs or updates, selling a home "as is" is not always the best solution to selling a home.

Pros:

Fewer costs (not spending money on updates or repairs)

Faster process (updating and completing repairs takes time)

Less negotiation (even if property has an inspection, buyers know the property will not be repaired by the sellers)

Cons:

Reduced Profit (less updates and unappealing condition could lead to lower sale price)

Fewer Buyers (smaller group of buyers would be attracted to purchase the home)

Financing Challenges (lenders and their underwriters may not be able to approve a purchase of a home in disrepair)

Attracting Attention (Ugly Home purchasers often make very low offers to flip and resell)


At Team Smith Wisconsin, we encourage any homeowner to invest in "best bang for the buck" improvements or repairs to a home before sale. We will actually prepare a list of exterior and interior home improvement suggestions that if done, will maximize a profit for a homeowner. We will also provide a list of Preferred Contractors for those updates or repairs for home owners to call to complete improvements or repairs for them.


In summary, homeowners have the choice of what condition they can sell their home. Buyers will also have a choice as to what they are willing to purchase, how much work, time and money they are willing to put into a home in poor condition. The balance is the made between price vs. condition. The better the condition of the home, the higher the price at time of the sale.



Thank you,

Team Smith Wisconsin

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TEAM SMITH WISCONSIN - KELLER WILLIAMS REALTY

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