Certain contract information will need to be removed and initialed by both parties and you'll need to be careful to watch for any seller responsibilities in the financing (FHA & VA loans only) addendum.
You will need to price the home for the condition and know that any potential buyer will expect the cost of the repairs plus an additional amount for inconvenience.
It would be best if you could have a general contractor look at the house and get an estimate for all repairs so you are informed and don't have to rely on a buyers estimate of cost. They will often estimate higher than your representative would.
If this is an estate you are exempt from property disclosure requirements.
You have received a lot of good answers. The reality is that there are a few questions that need to be answered before giving a true roadmap as to how to proceed with an "as is" sale. It's obvious that you want to get the house sold without having to payout of your pocket. A few immediate questions come to mind that I need to know. 1) is your dad still living? 2) what is the condition of the property? 3) is there Mortgage? The answers to these questions will give me a better idea how to proceed. I can be reached at firstname.lastname@example.org or 301-440-1489. I look forward to your call. Thanks .
secure a loan for the purchase.
So as is, although it mean that from the start you are telling the buyer, that you the seller will not pay or execute any repairs or updates, it always raises a flag to the buyer....
why as is, the buyer will automatically assume that there are problems, issues, repairs or other....
and will have a very careful conducted inspection, unless the buyer does not care about the house itself and will tear it down and is only interested in the land to build his/her own home. So if you sell as is and state the value is in the land, then that will attract a certain kind of buyers.
Edith YourRealtor4Life & Chicago and Northern Illinois Expert
Working always in the very BEST interest of her clients, Buyers, Sellers and Investors alike....
And always with a SMILE ïŠ
Covering for @Properties the city of Chicago, all N and NW suburbs, the fine homes on the
North Shore, and many of the W and SW suburbs, and with her trusted Partner Agents all of
the US and worldwide properties. Edith speaks French, German, some Spanish and other.....
@Properties Brokerage, 30 Green Bay Road, Winnetka, Illinois 60093
Check out my website at htttp://tinyurl.com/YourRealtor4Life
HAVE THE MOST WONDERFUL DAY :)
You as the Seller would not be required to do the repairs. I am also a licensed and bonded Auctioneer through-out the State of Maryland. I will actually be at the PG County Courthouse tomorrow at 11 A.M. conducting several "As-Is" real estate auctions. In this case, a qualified pool of bidders will gather together and bid competitively against each other on a particular property with of course a set reserve set by the Note Holder (Bank) or in this case...YOU!
These are the two options of selling a property "As-Is" - The Traditional Method (which should only be listed and marketed by someone with prior experience in handling "As-Is" transactions) and then the Accelerated Auction Method of Marketing a Property for Sale, Truly AS-IS, No Contingencies, Quick Settlement, All Cash Settlement.
Please visit my website below for more information and a link is provided to my AUCTION WEBSITE as well.
Please feel free to contact me to discuss your plans and options for marketing your dad's home in more detail. I would welcome the opportunity to assist you !
I see you've already received a definition from Don. I'll add that you should note that many homes are sold as is that may actually not be in "bad" condition. You will see many short sales and standard sales that are sold "as is" simply because the seller does not have any funds to repair items in the home.
If you have any questions and/or concerns or would like us to provide you with a free comparative market analysis for your father's home, feel free to contact us.
Wishing you the best,
I know plenty of investors in your area who'd be interested in at least making a bid your dad's house. They'd offer you less than you could get by listing with a Realtor, but they wouldn't mind purchasing in "as is" condition.
Hope that helps.