There’s a lot not to like about the house selling process. Every step takes considerable effort, and the process itself can take far longer than you’d like. But hey, if you have to sell your house you have to sell your house, right?
We talk to home sellers all the time. It’s our job. Let me tell you the biggest complaint they have about the process. People selling their houses cannot stand that they have to make repairs in order to sell it. The frustration is easy to understand.
Home repairs, especially ones required to pass an inspection, can cost thousands. That’s money you’re putting into a house that you’re trying to leave. The new owner, not you, will enjoy the fruits of these repairs.
You can take a step back from the process and see why the repairs are necessary. Think about it the same way as selling a car. What kind of offer do you think you’ll get for a car with a shot alternator, bald tires, and a bumper that’s hanging on by a thread? If you’ve ever sold a car like this, you know how the process plays out.
- You put a low asking price on the car, acknowledging its deficiencies
- Potential buyers look at the car at the asking price, and then haggle using the deficiencies as leverage
- You either accept a pitiful offer, or get the repairs made yourself
When potential buyers haggle with you over repairs, they’re not deducting just the potential cost. They’re looking for a bargain on top of that, to account for the time they’ll take making those repairs. (Or because they’re just jerks.) In almost every instance, you’re better off making the repairs and upping your asking price.
The same principle applies for houses. Chances are if you make repairs, you can recoup most, if not all, of the expenses you incurred. But there are a few exceptions. If you need foundation, roofing, or plumbing/septic repairs, you might not make back that money. In those cases the repairs are a necessary prerequisite for selling the house at all. Even if buyers were willing to make the repairs themselves, they’d find it almost impossible to secure financing. Lenders like to know that the house is in good repair before closing.
That brings is back to the main topic of this article:
Can you sell a house as is?
Wouldn’t it be nicer if you could just sell your house as currently constructed? Even if you don’t have foundational issues, you’d probably prefer to sell your house without installing granite countertops and stainless steel appliances. Sure, that’ll increase your asking price and probably your selling price. But will you earn back the money you spent?
If you need foundational repairs, chances are you need to sell your house as-is. Not everyone has a few thousand dollars sitting around. Not everyone can afford to take on that kind of debt — even though you’ll get paid for your house soon enough, you’re still out that money in the short term. Even then, depending on your level of equity, you might not have much money to show for selling your house, minus closing costs and commissions.
The good news: There are ways to sell your house as-is. Investment groups like Houston House Buyers will appriase your house based on a number of factors, and then make you an all-cash offer. In many, if not most, cases this will involve offering you cash straight-up for your house. If your circumstances aren’t right, you can find a number of different options to get that house off your hands.
As long as you’re not underwater with your mortgage, or you’re not leveraged to the gills, chances are you can sell your house as-is. You won’t get as much as you might on the real estate market, but you also won’t pay for all of those repairs. You won’t wait all that time to get an acceptable offer. You won’t go through the option or contract periods. And you absolutely will not pay any commissions.
We give you cash, you sign over the house. Wouldn’t it be nice if every transaction were this simple?
Contact us today so you can learn about selling your house as-is.