Homes sold “as is” often linger on the market for months before getting an offer to purchase. In many cases, it’s not possible or desirable for the homeowner to make the needed repairs. In such situations, you can sell the “as is” property quickly with a cash sale.
What Does “As Is” Mean?
A home listing that’s labeled “as is” means the homeowner has no intention of making any needed repairs on the property. There are several reasons why this happens. Often, the house needs to be sold as part of an estate, and the heirs don’t wish to take the time or expense to fix it up.
In other cases, the homeowner may be short of cash or not in good health. An impending foreclosure, a divorce, or an elderly person moving to a care facility are some of the reasons why a home is sold “as is.”
How Can “As Is” Affect Your Sale?
When a home is labeled “as is,” it can be like putting a big red flag on the listing. Buyers who want a move-in ready home will just pass it by and not give the home a second look. Even if the repairs needed are minor, they might still reject it.
An “as is” condition can also reduce the amount you can expect to get for your house. Major defects like a bad roof or leaky plumbing can bring the market value down by thousands of dollars.l
Why Does a Cash Offer Speed Up an “As Is” Sale?
With a traditional sale, your home could stay on the market for an indefinite period. The good news is, selling your house to a cash buyer can speed up the sale, and you can come out ahead financially.
The condition of your house doesn’t matter, and you will not be asked to make repairs. Best of all, there’s no waiting with a cash offer. After contacting the cash buyer, you’ll have an offer within 24 hours, and you can set a closing date within a week, if you wish.
An “as is” house can be tough to sell, but a good solution for you may be a cash sale. The offer is no obligation, so it’s to your advantage to investigate it. It might be your best option.
To see how you can sell your “as is” home quickly, visit Joe Homebuyer Hilton Head & Savannah now.