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 property as-is?”
1. Too Many Repairs
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. 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.
2. 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.
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. There are cases in which one may inherit 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!
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 but he moved to Dallas and had it in his mind that he would repair it eventually or move back but never did. 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.
5. 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. The money that they get for the house can be used to pay off any debt and can be used to start a new life in a more affordable place.
6. 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:
- They have already moved or are moving.
- They need to close before a certain date for tax purposes.
- They need the finances in hand by a certain date.
- They do not want to show the house or fix it up.
7. Ease of Sale
Lastly, 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 at (713) 909-4119. We can answer questions for you with no obligation!