When you're looking to sell your car, you have the option of fixing it up a bit or selling it "as is." The same premise holds true when you wish to sell your home. When you're thinking about putting it on the market, a variety of factors can steer you toward making some investments into the house or simply attempting to sell it as-is. In the right scenario, the latter option can work to your advantage. However, it's generally a good idea to avoid selling your home in this manner. Here are some reasons to avoid selling your home as-is.
You'll Probably Get Less Money For It
When you sell your home as-is, prospective buyers who visit during the open house or scheduled viewing will likely walk through the home and note the work that will need to be done. For example, they might note that the windows will need to be replaced and that the master bathroom will need new fixtures, among other things. People will then estimate the cost of these tasks and factor this amount into the price negotiation. This means that if you're hoping to get $215,000 for the home and an interested buyer has estimated that the house will need $20,000 in work, his or her initial offer will likely be around the $195,000 mark.
The House May Not Pass Inspection
One of the advantages to fixing up your home before it hits the market is that your contractors will be able to identify potential issues that could come up during the home inspection. These things can then be addressed. If you sell your home as-is, you really have little idea of any potential issues. This means that an interested buyer's home inspector could notice issues such as a leaky roof, mold in the basement, or a cracked foundation. These items can cause the home to fail its inspection, thus scaring off the interested buyer.
You May Have Trouble Getting An Agent
Many agents do not advocate selling homes as-is. This means that when you look to hire an agent and you have him or her tour through your home, the agent may decline representing you. He or she has good reason — homes sold as-is can often sit for a long time on the market, and yield considerable headaches. If you invest in fixing up the house, however, you'll have no trouble getting a real estate agent who will happily help you sell the property.
Once you sign the sale contract with your listing agent, there's a good chance that things will start moving quickly. Your agent will want you to stage your home for the listing photos, open houses, and showings. If you've never experienced the staging process, you may not know exactly what to do or where to start. The information on this site will help you to not only understand what's expected of staging but also offer tips for you to maximize your efforts without investing a lot of time. I hope the information here makes your home sale process a little bit less confusing and a little easier to manage.