Five Tips to Help Sell Your Home As Is

Five Tips to Help Sell Your Home As IsIn a hurry to sell your home? If so, you should consider selling the property “as is” to avoid doing any additional renovations or sitting through a long, drawn-out selling process. Here are a few tips to help sell your home as is if you are looking to move as quickly as possible.

Highlight the Potential

When selling a less-than-perfect property, it’s important to highlight the potential of the home and not dwell too much on its current condition. You are either going to be selling to an investor or a homeowner who is willing to put some work into it themselves, so you’ll get an offer quickly if you help them envision what the property could be, rather than what it is now. Of course, they will be able to see with their own eyes what condition the home is in, so don’t go overboard. But if you’re able to effectively display certain desirable features and paint a picture of what the home will look like after renovation, you’ll get an offer sooner.

Understand the Market

Understanding the market you’re in is vital for anyone looking to sell a home, especially if it needs some work. You need to understand the current market value to determine what a reasonable price for the property will be. If you sell to a cash home buyer, they will likely give you a price on the spot. But it’s still important to know the local price points to ensure you’re getting a fair deal. Having a good understanding of what similar properties in your neighborhood are selling for and what condition is typical will also help you be honest about how much work is necessary to get up to market conditions.

Make the Proper Disclosures

When showing your home to a buyer, it’s important to make the necessary disclosures and be honest about the current condition. Everything will likely come to light anyway when it’s time to conduct an inspection, so it will only make you look dishonest if you try to cover up flaws. Most buyers who are in the market for a property being listed as is won’t care that there are defects because they want to secure a discount by putting in some work themselves. But you need to be up front about any issues, or it will cost you in the long run.

Reduce the Price

If you’re struggling to get an offer, you should consider dropping the price. There are always investors who are in the market for distressed homes, but you’ll need to offer the property at a price that makes sense for their bottom line. Most investors are looking for a property that they can purchase and renovate for around 65% of the after-repair value. So if your home is worth $300,000 in good condition and still needs around $50,000 worth of work to get it up to market standards, you should consider offering it at $145,000 or even less if you want an offer as soon as possible. This figure will vary slightly depending on the market and other conditions. But this is a good rule of thumb if you are looking to sell quickly. Even if you have to accept a lower asking price, it will save you time and money in the long run by avoiding renovations and closing costs.

Offer a Credit for Repairs 

Another way to entice buyers is to offer a credit for repairs. This is a good way to open room for negotiation if you’re uncertain of how much work is needed to get the property up to market standards, but you want to get the home sold quickly. Maybe you have a general ballpark figure, but you’re not certain exactly what listing price will best attract buyers. Offering a repair credit will allow prospective buyers to do an inspection themselves and determine a price that makes sense for their investment strategy. You should also do your own research to ensure that the inspector is legitimate and the allowance is reasonable. But you may get a higher offer than if you just listed it at a reduced price from the start.

If you’re looking to sell your home as soon as possible in Stockton, CA, Frank Buys Houses is a reputable cash buyer that will give you an estimate no matter what the condition. Contact us today to get a fair cash offer and to avoid all the hassles of renovating and listing the property yourself.