Most of the time when people decide to sell their home it’s a given that they will have to make repairs to it, but that’s not always the case. There are many reasons why someone would have to ask themselves, “Should I sell my house as-is?”
Should I Sell My House As Is Or Fix It Up?
There are several consideration when deciding whether or not you want to sell your house in its current condition or whether you want to fix it up. Some questions include how many repairs it needs, whether or not you fell behind on payments, whether the house is inherited or vacant, and whether the house fell behind on taxes.
We’ll dive into these questions starting with fixing it up, and then move on to some reasons you may decide to sell as-is.
What should I fix before I sell my house?
1. What home improvements bring the most value?
If you decide to make repairs to the house, consider making improvements that bring the most resale value. Popular repairs for resale value include anything done to kitchens and bathrooms that brings them up-to-date.
2. Too Many Repairs
Of course, another consideration is how many repairs there are in general. One of the most common reasons why many people decide to sell their home “as-is” or through a wholesaler is because their home requires too many repairs.
High costs for repairs of a home that hasn’t been updated in 20-30 years may be too much for some people to afford. Major repairs like foundation, A/C, plumbing, electrical and roofing can drive up the cost of a remodel.
Also major repairs like foundation, AC. Plumbing, electric and roof may drive up the cost of a remodel. Rental properties also tend to be homes that end up too damaged to be able to repair cheaply. Many tenants do too much damage to the homes they’re renting and its better for the landlords to just sell it as is.
Sell My House As Is: Other Considerations
3. Is the house behind on payments?
Some people decide to sell their home as is because they are behind on payments and want to avoid foreclosure. Most of the time when an owner comes to this realization it’s because they are running out of time. They want to sell their home to be able to move out and take whatever money they can get to move to a more affordable place.
4. Is the house inherited?
Some people decide to sell a house as is because it wasn’t theirs to begin with! What we mean by that is that the home might be recently inherited. Cases exist in which someone inherits a house from an older relative and it may be a house that is too dated. The repairs that the home would require to be traditionally sellable would be too much! So selling it as is and getting cash for it is the best option!
5. Is the house vacant?
We (Big State) recently encountered a situation in which a seller wanted to sell their home as-is because it had been vacant for 3 years! He owned it and had lived in it. However, he moved to Dallas and had it in his mind that he would repair it eventually or move back but never did. When he realized he had no use for it so he decided to sell it to us without making any repairs to it. He just didn’t want to deal with having to repair a home that wasn’t in the city he lived in.
6. Is the house behind on taxes?
Similarly to avoiding foreclosure, many people decide to sell their home without doing any repairs because they are going through financial hardships and are behind on taxes. Selling the home as is and fast provides people with a solution. Often sellers use the money from the home sale for paying off any debt. Additionally, they may choose to use it to start a new life in a more affordable place.
7. Do you want to sell quickly?
Most of the time when someone hears the phrase “sell my house fast,” they think that the house must be in quite a poor state. However, this is not always the case! Some people choose to sell as-is for other reasons, including the following if they:
- Have already moved or are moving.
- Need to close before a certain date for tax purposes.
- Do not want to show the house or fix it up.
- Need the finances in hand by a certain date.
Are looking for an easy home selling process?
Some people may want to sell as-is simply for the ease of sale.
Whether your home requires too many repairs or you are behind on payments… Selling your property as-is might be the best and easiest option!
For more information regarding how to sell your house as-is, call us. We can answer questions for you with no obligation!