5 Reasons to Sell Your Home As-Is
Jul 09, 2019 | Hometown Development
Selling a home can be a long, stressful process. From hiring a realtor and finding a buyer to making sure that the sale is going to close properly, many components go into a traditional home sale, and most of them take time.
What many people don’t know, or tend to forget, is that there is an alternative to selling a home on the traditional market. You also have the option to sell your house as-is. Though it’s not the right move for everyone, an as-is sale can offer several benefits for homeowners. Here are a few reasons you might consider selling your home as-is:
Your Home Needs Serious Repairs
If your home needs significant repairs and is facing troublesome issues like a cracked foundation, faulty plumbing or electrical wiring, or more, an as-is sale could be in your best interest. In most cases, before putting your home on the traditional market, you’d be required to make some (if not all) of the necessary repairs, before you could see interest from a traditional home buyer. That’s a lot of money out of your pocket before you see any return, and it’s not guaranteed.
An as-is sale means that you’re selling your home in the exact condition it’s already in. While you will have to disclose the current issues with your home and you’ll have a lower asking price, you won’t pay any money out of pocket to make the sale.
Your Home Is At Risk of Foreclosure
Foreclosure can be frightening. It may feel like the state and ownership of your home is out of your hands. It’s good to know that you do own your home until the county officially forecloses on the property, which means you have options until then. An as-is sale can help you get out from under that home quickly, and without much additional expense to you.
Since you’re selling as-is, where many buyers make cash offers, you’re also often able to close more quickly. In a cash sale, you don’t need to wait for lender approval, or for much legal documentation to process through. That can shorten the home selling process to just days, instead of months.
You’re Working Through a Difficult Divorce
When you’re going through a divorce, it’s often difficult to stay on top of major expenses. Both parties have legal fees and attorney retainers to worry about, and it can be hard to determine who is responsible for the mortgage payments while your lawyers are sorting out your assets.
Whether one party owns the home or it is jointly owned, an as-is sale is a great way to help move some of your concerns and responsibilities off of your plate while you focus on yourself and the divorce process. Since you don’t need to do repairs or clean, an as-is sale is much less hassle, and since it can be done quickly through a cash offer, it doesn’t take much work on your end.
You Don’t Have the Time or Money to Hire a Realtor
Realtors are an expensive and time-consuming part of the home sale process. While they certainly offer benefits, if you’re trying to sell a home quickly, or you’re on a tight budget, a realtor may not make sense for you.
What’s more, when you list a home traditionally, with a realtor, they’ll want you to clear out your space, hire cleaners, and possibly even do cosmetic touch-ups like painting or staging the home. While these efforts can go a long way to get you the best price, if you’re already on a tight budget, a realtor may cost more than they’re worth for you.
When you opt for an as-is sale, your buyers are looking at the home with the understanding that what they see is what they’ll get. There’s no need to make repairs, and many as-is buyers will even offer to clean out whatever you don’t want from the home, helping you save both time and money.
You Need to Move On Quickly
If you’ve inherited a home you’re not sure you can afford, you’re moving away for a new job, or you just need to move quickly, an as-is sale is likely your best bet. Like we mentioned above, as-is sales are often completed in cash. They also typically don’t require inspections, because the buyer isn’t going through a lender to purchase the home.
All of these benefits can add up to more money in your pocket in a short period of time. You don’t need to make repairs, clean up, wait for a lender’s approval, or wait for the inspector’s report to come back. You simply list your home, accept an offer, and move on to wherever you’re headed next.
As-is sales aren’t talked about as often as traditional sales, but they are a beneficial, cost-effective way to sell a home for many homeowners. If you think an as-is home sale might be right for you, Hometown Development would love to help. We purchase properties in any condition, for cash. Give us a call at 616-379-3090 or contact us online today for your free, no-obligation offer.