Selling a property as-is means selling it in its present condition. The buyer takes it with all its faults and issues and performs renovations of their own volition after closing the deal. While this would usually mean selling it at a lower price, it also means not worrying about renovations and improvements. Read on for more benefits of selling your house as-is.
There is less paperwork involved
Several documents need to be submitted to various offices when selling a property. If you haven’t sold a property before, you might even have to seek education on how to sell a house. Selling to an investor eliminates this paperwork, making the process easier.
You keep all your money
Selling your home the traditional way involves an agent, who connects you to the buyer, and sometimes a lawyer and inspectors. All these parties expect to be paid from the proceeds of your sale, meaning whatever price you settle for is not what you receive in the end.
Selling your house as is only involves you and the buyer. The latter performs the inspection themselves and provides ready sale documents that you won’t need to pass through a lawyer or authority for review or approval. It’s up to you to include third parties. Otherwise, you will walk away with the total sale amount.
Investors can assist with foreclosure
If it is apparent you won’t clear your debt on time, you need to sell your home quickly. Typically when your home is in foreclosure, you have about 90 days to close a deal, and relying on a realtor can backfire, as they need time to find a buyer. Investors have more experience taking on such cases. They will mediate talks with your lender and take the burden off your shoulders before the end of the foreclosure period.
The deal will almost always go through
Some buyers will back out due to a better deal or due to financial challenges. A misunderstanding between the real estate agency and a prospect could also jeopardize an otherwise promising deal. Investors don’t depend on financing to purchase property and will rarely pull out on the grounds of financing mistakes or difficulties. If they agree to a deal in principle, it is almost certain that they will finalize it.
It is a quicker process
Houses can stay on the market for up to six months or more. If you don’t have the time to wait, selling your home as-is will spare you the wait. All you will need to do is make a phone call and provide the basic details about the property you’re looking to sell. Your investors will then plan a day for a representative to come and see your property in person. In a few days, you will receive a cash offer, and a check in your hand in as little as one week if you accept.
If you want less work on the home staging part and a process devoid of paperwork and intermediaries, selling your home as-is is the way to go.