Are you selling your house in “as is” condition?
When a home is being sold as is, it means that the buyers are agreeing to purchase the home in its current physical state. If the roof is leaking when the buyers take possession, this means that the buyers cannot hold the sellers accountable.
This is common for decrepit and sometimes old and abandoned homes. When the seller isn’t willing to make the necessary repairs, they may opt for the property to be sold as is and to take a price cut.
The reality for homes being sold in as is condition is they can tend to sit on the market and become stale. So, if you’re choosing to take this route, you’re going to want to read this. We’re outlining the six best ways to speed up the selling process when it comes to selling your house as is.
Let’s get started!
1. Price Your Home to Sell
First things first, it’s essential to price your home to sell.
This doesn’t mean that you have to underprice your home. Instead, it just means that you’re being fair in your pricing to ensure that it doesn’t continue to sit on the market.
When a property sits on the market for too long, it becomes stale. Once a property is stale, potential buyers are turned off in fear of something being inherently wrong with the house.
Remember, you’re selling your home in a condition that is not yet turn-key. From the perspective of your buyers, there’s still plenty to do to bring the home up to livable standards.
2. Consider Minor Repairs
Although you’re selling your house as is, this doesn’t mean that you can’t make minor repairs.
Of course, you’re not going to tackle a new roof or replace all of the windows in the home. However, you can opt to complete more minor repairs. This could be anything from furnishing the kitchen with less-dated appliances to applying a fresh coat of paint to the walls.
Even for someone looking to do a large-scale renovation, this helps to eliminate some of the intimidation of such a renovation. It’s also likely going to help your home sell faster and for a higher price.
3. Seek out Cash Buyers
When it comes to selling a house as is, it’s more than likely you’ll run into a few potential cash buyers.
Both individually and as a business, cash buyers often look to purchase as is homes that require extensive renovations. In general, the plan is typically to purchase the home for a fair price, flip it, and then resell. It’s safe to say that this is a very fruitful business for many investors.
Even if your property is abandoned or decrepit, cash buyers are often willing to purchase homes in this state. This company, for example, advertises a “We Buy Any House” approach and is always on the hunt for its next great purchase.
4. Advertise Online
Let’s be honest, a house being sold as is needs all of the advertising that it can get.
Because we live in a digital world, it’s vital that you’re advertising your property for sale online. When we consider that 44 percent of people began their property search by browsing houses online, it’s easy to see why having an online presence is mandatory.
The best way to do advertise online is to ensure that you’re on every platform possible. This is especially the case if you’re selling your house privately and without using a real estate professional.
Be sure to advertise on social media platforms such as Facebook as well as paid advertisements on buy and sell websites.
5. Get in Front of the Right People
While it’s important to advertise to the general public, it’s also important to ensure that you’re talking to the right people.
Ask yourself, what type of buyer is most likely to be interested in this type of property?
For homes being sold as is, this could be carpenters, handymen, and those who favor renovations and projects. That being said, do your best to cater your marketing to these people. You want to be sure that as many eyes as possible are seeing your property advertised for sale.
Don’t hesitate to put up flyers in hardware stores, paint stores and in your local neighborhood. You can also join and advertise is certain “home improvement” Facebook groups. This is a great way to reach potential buyers and 97 percent of real estate professionals recommend Facebook as their top social media strategy for business.
6. Make Showings Easy
At the end of the day, you have to ensure that it’s as painless as possible for people to book showings for the property.
All too often, sellers only allow prospective buyers to view their property during a small window. While the need for privacy is understood, this is also largely affecting your opportunity to sell.
Instead, do yourself a favor and create an open showing window. If your schedule allows for it, allow prospective buyers to book showings last minute and remain at the property for as long as possible. Remember, this type of property may warrant buyers to bring along their contractors.
When Your Property Is Sold as Is
In truth, having your home sold as is does present a fair set of challenges when it comes to selling.
After all, the majority of buyers are looking for a home that is relatively turn-key. For as is homes, it takes a very specific type of buyer to be willing to take on such a project. While these buyers certainly exist, it may take a longer time to find them.
Fortunately, there are steps that every seller can take when it comes to selling a home as is. This is anything from pricing is correctly and seeking out cash buyers to advertising as much as possible and making showings easy.
With these tips and tricks, you can look forward to selling your home faster and for a greater profit.
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