“May you live in interesting times” goes the saying and if we’ve realized anything it’s that 2020 has certainly been an “interesting” year. So much has happened across the country and the world but the impact of all the events and factors is also being felt on very local levels as well. The economy, changing financial situations, job loss, and lifestyle changes are all having an impact on homeowners and many are feeling the pressure to sell. Even if things are going well, many homeowners feel like it’s a good time to sell their house fast in order to get into a situation in which they feel better or offer them a fresh start someplace else.
If you’re one of those owners, you might be looking to sell your house as-is. It’s a great way to sell your house fast and ensure a quick sale. But if you’ve never tried to sell your house this way before there are many pitfalls and concerns to look out for. Chief among them is finding a good real estate investor to consider if you want to sell your house as-is for cash. Nexus Homebuyers has the reputation, reviews, and readiness to buy your house as-is that you’re looking for. Whatever the reason, a reputable buyer like Nexus Homebuyers will make you an offer ASAP, often within 24 hours, close on your schedule, and put cash in your pocket when you do. Not a bad way to move forward if you need to get out of a jam or just want to start fresh in a new house.
Whatever the reason you want to sell your house as-is in 2020, you’ve got options to consider. Here are some helpful tips that you should consider brushing up on before you start the process. That way, you can make an informed decision and get the best cash offer possible for your house.
What Does “Selling As-Is” Mean?
Before we get into the tips that make it easy to sell a house as-is, we need to understand what a house in “as-is” condition means. As-is is defined as when you sell a house or property in the exact condition it is currently in. It implies that you, the owner of the house, will make no attempt to repair things that need fixing, do any cleaning, or improve the condition of the house in any way. You also make it clear that the buyer will be responsible for all the issues related to the house as soon as they purchase it. As-is can mean any and all issues related to the house, including structural issues, repair issues, tenancy issues, or even financial issues.
When a buyer agrees to buy your house as-is, they’ll have to sign documents showing that they understand the terms of the deal and the responsibility involved. You’ll be responsible for making clear all the issues and problems related to the house in the purchase agreement and sale documents. If the buyer doesn’t feel as though they are getting all the information or they are uncomfortable with the situation, they can walk away from the sale before it’s finalized. The good thing about working with a cash buyer like Nexus Homebuyers is that we’re not worried or scared off by bad conditions or issues, we want to buy your house as-is for cash no matter what.
Clean or Repair Your House
If you decide to sell your house as-is on the housing market, you’ll still want to get it in the best shape possible. While you might want to sell your house as-is, market buyers have a certain expectation. Very few market buyers want to buy a problem house or a house with issues that they’re responsible for fixing. That covers everything from leaky faucets to holes in the roof. They’d much rather buy a house with no problems or only a few problems to deal with.
When it comes to repairing a house, costs can add up quickly. That’s why it’s important to make a list that ranks all of the potential repairs and fixes you can do to your house. From here, you’ll be able to consider which repairs you pay for and which ones just aren’t worth it. If it’s not something you can recoup in the sale, you probably don’t need to do it.
Just make sure you don’t take on more than you can handle. You don’t want to take a bad situation and make it worse. Have an expert check out the house and provide you with estimates for any of the issues inside. You’re going to have to pay for them to make any fixes but selling a house on the open market may require it.
Get Your House Inspected and appraised
If you do plan on selling your home as-is on the housing market, you’ll probably be doing so with a real estate agent. Be aware that they’ll take a commission fee on the final sale price. That’s a lot of extra money that comes from your potential profits. That’s not something that happens when you sell your house as-is to Nexus Homebuyers.
Since you’re selling a house that likely needs repairs or has financial concerns, you need to get a professional inspection as well as an appraisal before you list it on the open market. Lenders are going to want third-party assessments in order to approve mortgages, especially on a house that is being marketed as “as-is.” If the house has major issues, it’ll be tough to get any lender to approve a loan, regardless of what the inspections might say.
Clean Your House Up
If you’re selling your house as-is on the housing market, you should at least give it a decent cleaning in order to make it look presentable. Consider hiring pro cleaners for a deep clean as they’ll really know how to get into the trouble areas. You’ll have to pay for this but if you’re going to sell on the housing market it might be a cost worth making. Especially if you’re dealing with hoarders, unruly tenants, or squatters.
Price Your House Well
Market buyers look at your house a little differently than you do. They want to find the best deal for their money and when they see your house is available as-is, they’re going to want to find the right price for them to take over your situation.
You want to make sure you set the right kind of price on the market. You want to make it enticing enough that they bite but not too low that people are turned off by what they assume is a bad deal.
Sell Your House As-Is To A Cash Buyer
When you look at all the steps and costs involved with selling your house as-is on the open market in 2020, you might wonder why it’s even worth trying. Trying to sell a house on the open market that comes with issues can require a lot of time, money, and effort that you’d rather avoid.
Another option available to you is to sell your house as-is directly to a cash home buyer like Nexus Homebuyers. We buy houses as-is and we pay cash for them. You don’t have to make repairs, upgrades, or cleanups. You don’t have to sort out the finances. You don’t need to do anything. You can sell the house in the exact condition it’s currently in and get paid in cash for it. And you can do it fast! Just contact us today to get started!
