Should I sell my house as is for cash?
Selling a home “as is” for cash is an exit strategy that helps countless homeowners move while skipping the typical home seller process.
This method helps people sell their home fast and without the showings, marketing, and extra steps involved with a traditional sale. It is an excellent option for any property owner who needs a quick, convenient disposition method.
Selling Your Home “as Is” Meaning
Selling a home “as is” means that seller isn’t required to make any repairs because they are selling their home in its current state. The buyer can’t request any improvements during due diligence and can either purchase the home or back out after the home inspection, but not ask for any alterations.
In other words, the buyer accepts the property in the state it is in at the time of sale, and the seller is not obligated to fix any issues that may exist.
Why sell a home as is?
There are a few common reasons why homeowners choose to sell their home as is.
- It makes it possible to sell a home more quickly compared to selling on the open market.
- Through this method, they also avoid time-consuming renovations or upgrades.
Homeowners who must move quickly sell as is to get an earlier closing date, enabling them to move quickly. This is because most as-is deals are cash offers from real estate investors, who don’t need to wait for financing approval. Selling a house fast has many benefits, especially when someone wants to avoid foreclosure, get funds for a new home, or meet a crucial relocation deadline.
People who have too many repairs to make opt out of the hassle of repairs by accepting a lower offer from a cash buyer. This ends up evening out what they would net after repairs and a top dollar home sale. If you are due to fix multiple big-ticket items like your roof, HVAC, flooring, and kitchen, it may be better to ask your realtor to sell your house as-is!
Cons of Selling a Home as Is
There are also some drawbacks to selling a home like this. If you put your home on the market as-is, cash home buyers will often offer a sale price below market value. This is because they will estimate your home’s value based on estimated repair needs.
Pre-inspection, you may also think you’re getting a fair price, but then the home buying company may make surprising deductions to their offer after the official home inspection.
However, not all companies are like this, and you can get an acceptable offer, even if it’s not the top dollar. Remember, you just need enough funds from the cash sale to move on to your next financial goal, whether it’s to buy a new construction home or to fund an adult living transition.
Who will buy my house as is for cash?
Real estate investors, companies that buy houses aka ibuyers, select real estate brokerages, and other regular homebuyers can all buy your house for cash. One of the fastest ways to get an offer is through getting an upfront cash offer through a company that has an established cash offer program. You can also put your house on the open market and sell to a house flipper who makes an offer below fair market value. Any of these channels can get you the fast cash offer you want — just make sure that your real estate agent marks “as is” on the contract!
- Note: You may see signage out there that says, “we buy houses for cash.” While many of these people can deliver a solid offer, some of these businesses may promise you the moon and the stars but then do a bait and switch with a low-ball offer. Always do your research before committing to an ibuyer’s cash offer. Make sure that their offer is “no obligation” and you have the freedom to shop around for the best choice.
Sell My House as Is for Cash
There are so many ways to pursue the home selling process, and getting an as-is cash offer is just one way. You can also explore other methods like a standard sale or for sale by owner (fsbo). If you have questions about what type of real estate transaction makes the most sense for your needs, contact us today.