While browsing through real estate postings, you’ve probably noticed the phrase “sold as-is” on some of the listings. The phrase seems to raise more questions than answers for buyers. If you’re getting ready to sell your home, you may be wondering if an “as-is” listing is a good idea.
What “As-Is” Means
The term “as-is” means the home is being offered for sale in its current condition and that the owners don’t intend to make any repairs. However, “as-is” tells the buyer almost nothing about what those needed repairs might be. In fact, the owners may not even know the extent of repairs needed.
Home sellers are legally required to disclose certain defects in the house that they know about, such as whether the basement floods or the foundation has problems. But other types of problems are not required to be disclosed.
How “As-Is” Affects a Sale
The “as-is” listing is essentially a “buyer beware” warning for potential buyers. They can’t know for sure what they’re getting into by buying the house. They can order a home inspection, but that usually doesn’t happen until after they make an offer.
All the unknowns mean most buyers will hesitate before making an offer on your “as-is” home. Even if you get an offer, a buyer could back out after a home inspection if they feel like the problems are too widespread or costly. Your “as-is” home could be slow to sell.
How a Cash Buying Company Can Help
Cash home buying companies specialize in purchasing homes “as is.” As property investors, they willingly take on the responsibility of making repairs, especially if the home has marketable features such as a good size or location.
To sell to a cash home buying company, you don’t need to list your home on the market. Call them directly, and they will make a no-obligation cash offer on your home within a day or two. If you accept, you can close in less than 30 days.
Offering a home for sale “as-is” isn’t easy, but selling directly to a cash home buying company can result in a fast sale without the waiting and hassle. If you have a home needing repair, it’s worth it to see how a cash sale may help.
Want to sell your home “as-is” in the Indianapolis area? See how Simple Quarters home buyers can help!