Selling A House As Is: Everything You Need To Know

If you’re thinking about selling your home, you might not put it on the market just yet if the house is in need of repairs or renovations. Another option to consider, though, is selling your house as is rather than spending valuable time coming up with a checklist of all the work that needs to be done on it. Depending on the market and buyer demand, selling as is could be a smart move, but it’s important to be upfront with potential buyers about the current state of your home.

Let’s take a closer look at what selling a house as is truly means as we explore the pros and cons of selling a house as is and unpack the basics of how to sell a home this way.

What Does Selling A House As Is Mean?

Selling a house as is means you’re attempting to sell a property in its current condition. Some home sellers go this route for a number of reasons – one of which may be a desire to avoid making any costly repairs or renovations.

It’s important to understand the difference between a home that’s being sold as is and a home being sold as a fixer-upper or move-in ready. A fixer-upper is a property that clearly needs repairs, while “as is” may refer to a home that only potentially needs repairs. Even if a house doesn’t necessarily need repairs, however, it might not be considered move-in ready compared to other homes on the current real estate market. A home that is up to date with fixtures and appliances and doesn’t need repairs is generally considered move-in ready.

Should You Sell Your Home As Is?

A few considerations to be mindful of before selling your house as is include:

By weighing all these factors, you’ll have a better sense of whether it’s worth it to sell your home as is.

Pros And Cons Of Selling A House As Is

Let’s take a look at the benefits and disadvantages of selling a house as is.

Selling Home As Is Pros

The pros of selling a house as is include:

Selling Home As Is Cons

Drawbacks of selling a house as is include:

How To Sell A House As Is In 5 Steps

If you’re thinking that selling your home as is may be a good financial decision, here are some important tips on how to sell your house in this manner.

1. Find A Real Estate Agent

We recommend always using the help of a real estate agent when selling or buying a home. An agent’s knowledge about the industry can make for a smooth real estate transaction. They’ll help you decide on your listing price, market your home and handle any negotiations or potential bidding wars. They can also help you understand local disclosure laws and determine any critical repairs that can’t be avoided.

2. Provide Disclosures

It’s important to be upfront with any potential buyers about your current home’s condition and any ongoing issues. Even if a house is listed as is, a potential buyer may not know the extent of the improvements they’ll have to make after purchasing, unless you tell them.

It’s a wise idea to look into your local and state laws on specific disclosure requirements.

3. Anticipate A Home Inspection

When a buyer sees a home listed as is, their real estate agent might encourage them to get a home inspection on the property. This will allow the buyer to see and know firsthand any issues with the house and how much fixing those issues could cost. Be prepared for negotiations if the home inspection doesn’t yield good news.

4. Market Your Home

A real estate agent can help you market your home to many potential buyers. Agents have access to the multiple listing service (MLS), can assist with staging and likely possess a wealth of marketing strategies on how to get a home to sell.

Although marketing your home is a typical step in the home selling process, this step can be especially crucial when you’re selling your home as is. Depending on the house’s condition, your real estate agent may have to give the house some extra attention to draw in potential buyers. Or, your agent may tailor the marketing to buyers looking for “as is” properties.

5. Set A Realistic Price

Selling a house as is means having to set a realistic price. You don’t want to ask for too much, especially if repairs or renovations are necessary. By putting your house on the market at a realistic price point, you’ll hopefully have many offers to consider.

Selling A House As Is FAQs

Below are a few frequently asked questions about selling a house as is.

How much could I lose selling a house as is?

It all depends on your property’s condition when you’re looking to sell. Typically, you can expect to sell an as is house at 15% – 20% below market value. However, if selling as is means you can avoid paying for expensive repairs, this loss might be lower than what it seems at first glance.

It’s important to note that you might not lose any money selling your house as is, however. If it’s a seller’s market, you could get multiple offers even if repairs or renovations are in order.

Is it a good idea to sell my home as is?

If it’s a seller’s market and you think your home is in okay condition to sell, listing your home as is may not be a bad idea. If you also don’t want to do the leg work associated with repairs or renovations, selling your home as is can be a way to avoid this extra hassle.

Should I buy a home being sold as is?

If you’re looking to buy a home and see a house listed as is, don’t be afraid to explore it as an option. Some properties listed as is are in good condition, just not necessarily move-in ready.

The Bottom Line: Selling A House As Is Can Be A Smart Move In The Right Market

Depending on the real estate market and some other factors, selling your home as is could be the right financial decision. However, being willing to make some changes to a house to appease a potential buyer can also be worth it in certain situations.