is it possible to sell a home in 'as is' condition rather than spend the time and money to get it in 'sales condition'? I know

Asked by MLE, 38058 Tue Jun 1, 2010

in this market everyone wants the house to be in 'better than new condition'. My house was built in 96 and is in a great location.
Walking distance to Munford schools. The house note is current but there is no way I can come up with several thousand to recondition it.

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7
John A. Kalo…, , Naples, FL
Thu Jun 3, 2010
It is a good idea as long as you disclose all physical problems. Get your own home inspection first then possibly offer to help pay for remedies to a definite amount . or not.
0 votes
Brigita McKe…, Agent, Stroudsburg, PA
Thu Jun 3, 2010
Good morning, MLE!

Yes, you can sell a home in "as is" condition. It should be priced accordingly, though, in order to sell. I have a couple of listings that are on the market "as is".

You probably have kept up with maintaining the home, which is a big plus. Some buyers would rather consider a home that needs updating so that they are able to personalize to their own tastes.

The best thing you can do is to make sure the home is "decluttered" and kept neat and tidy. Pack up all of your personal knick knacks and items. The reason for this is so that the buyers can see themselves in the home and they can visualize how large the rooms are for their own furniture. Try looking at your home from a buyers point of view to help decide what goes in storage and what stays.

Hope these little tips help.

Brigita McKelvie, REALTOR
Pennsylvania License #RS297130
Cindy Stys Equestrian & Country Properties, Ltd.
http://www.brigitamklv.com
0 votes
Kathleen McH…, Agent, Bay Head, NJ
Thu Jun 3, 2010
I absolutely beleive that if you are selling your home in this market, you really need to put your best foot forward. With so much to select from the homes that appear to be in the best condition will certainly sell first. Take the time to clean, and declutter. (PLEASE take the collection of refrigerator magnets off the fridge- a personal pet peeve of mine :) Ask a friend or relative to take a walk through with you and see if they notice any small problems that could easily be addressed. There are books out on personal home staging, which might be helpful, but for the most part the key word is CLEAN. Staged homes sell more quickly, and for a higher price. You can't argue with that, so why NOT get everything in the best possible shape?
Web Reference:  http://www.njhomestaging.net
0 votes
Keith Sorem, Agent, Glendale, CA
Wed Jun 2, 2010
There is a saying that everyone pays to maintain their home in good condition...either during the time that they live in it, or when they sell it.

I have found this to be true. Just price it accordingly and do not complain about the prices that buyers offer.
BTW. even with zero dollars you should be able to declutter and clean.
0 votes
Scott Godzyk, Agent, Manchester, NH
Wed Jun 2, 2010
You can sell your home in any condition you like. Knowing that the better the condition, the more possible buyers and the higher the price you may get. your house was only built in 1996, it shouldnt need more than paint and maybe flooring???

Your listing agent will be able to assess what your home is worth in todays market in the as is condition you currently have. They will be able to give recomendations of any small or inexpoensive fixes that will bring a greater return in value. You should know that if there are any defect or problems you know of, ewven if selling it as is, you still need to disclose those problems.

The only item to consider is most buyers go fha, the home has to meet certain guidelines, everything has to be functional, no leaks, peeling paint or safety issues. If you have any of those it will be worth taking care of or you limit your buyers by 2/3.

Good luck with your sale
Web Reference:  http://www.ScottSellsNH.com
0 votes
Don Tepper, Agent, Burke, VA
Wed Jun 2, 2010
Sure. That's not a problem at all.

Two points:

First, recognize that it'll likely sell for less than if you fixed it up. That's a trade-off of selling in "as is" condition. But if you're OK with that, recognizing that you don't have the time or money to get it into the best condition, then fine.

Second, recognize that you can do some minor things that likely will raise its value and improve its appearance. The first couple steps of home staging--cleaning, decluttering, etc.--cost nothing or almost nothing. And some other things--selective painting of a few rooms, for instance, or planting some annuals outside the home to improve curb appeal--similarly cost almost nothing. So: Do what you can, even if you only have a couple hundred dollars. Your Realtor can advise you on where best to put that money or time.

Hope that helps.
0 votes
Leili Mortaz, Agent, Campbell, CA
Tue Jun 1, 2010
Off course you can sell a property As-Is. You need to make sure your listing agent documents ANY and ALL material information about the property, so you are protected. We sell a lot of our properties AS-IS even for our lenders. Ironically, one can learn a lot from the bank's approach in deciding to improve the property before marketing or not. Lenders have developed guidelines based on price range of comps, declining market zip codes and several other factors that helps them decide to remodel before a sale or not. We can make recommendations to them, but unless the property meets these above guidelines, they will not spend any money on rehab.

Finally, the concentration of these rehabs are on several area which would require NO permits and will NOT delay marketing of the property. They rely on our expertise to get them qualified and tested contractors that can turn the repairs quickly and so we can get the property listed.

Hope this information is helpful.
Web Reference:  http://www.myREOexchange.com
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