What Does It Mean to Sell a House “As Is”?

When someone is trying to sell a house “as is,” they mean they do not intend to make any improvements or repairs on it. In other words, what the buyer sees is what they get. While that seems simple enough, there are many factors to consider before you sell a home “as is” and we will review a few of them here.

Reasons to Sell “As Is”

There are many reasons why you might sell a home “as is.” These include:

  • You don’t have time to examine the house or make repairs,
  • You can’t afford to make repairs prior to putting the house on the market,
  • You are selling a “tear down,” so the home will likely be torn down to build a new home anyway,
  • The house is part of an estate, making an “as is” sale more cost effective.

If you are selling a home “as is,” you can save yourself a lot of time and money, but there are other factors to consider:

Considerations for Selling a Home “As-Is”

  • Disclosure Requirements – Even though the sales contract states that the property is being sold as is, the seller is still required, under Texas real estate law, to provide a disclosure of all defects that the seller is aware of in the house, even those that are not apparent.
  • Home Inspection – The seller is not required to have to house professionally inspected to find all defects, but the potential owner may want to do so, at their expense, to find out what they are getting into prior to completing the sale.
  • Minimum Requirements – If there will be a mortgage on the house, the lender may require that the home meets certain minimum requirements of structural safety.
  • Financing Options – If the house will not meet minimum health and safety requirements, then potential buyers may choose to pay cash. Even with a lowered price, this may shrink your group of potential buyers.

An Easier Way

There are ways to sell a house “as is” without having to worry about negotiating with buyers and their agents. You can sell your home fast for cash, to a home investor. At SellMyHomeToday.com, we can make a competitive cash offer on your home, as is, saving you the hassle of marketing and selling it yourself.  To set up an appointment, call us today.

2017-06-29T10:17:10+00:00