Don't Sell Your House "As Is" Because You Don't Want To Do Repairs

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Real Estate Agent with RE/MAX Executives

I have been seeing this more and more lately and even had a few sellers ask me if they could do this. That's right it's not a short sale, the sellers have the money but they want to sell their home "as is"just because they don't feel like having someone come and do the repairs that may need to be done.  Oh and I forgot to mention they want to get top dollar while refusing to do any repairs. Hey I won't beat the sellers up I mean we are negotiating right? So I can see why you would want to start off playing hard ball.

Well here's the issue with playing that way. THE BUYER yeah they think something is wrong with the house. Oh especially the first time home buyers. Their main concern is this is my first home,  I have never been through this before, I know nothing about houses (in most cases) and I do not want to get an awful deal.  Yeah of course their agent is going to tell them "we are going can write an offer that is contingent upon a home inspection so if you don't like what comes up in the report you can walk away." But like I said the buyer is already came up red flags and they are just looking at the home on the internet. So even if they do make it to the home, manage to like, they are already considering writing an offer lower than your asking price. This makes sense if the seller isn't going to do any repairs and trust me all homes usually need some repairs the buyer might as well get a better deal right? They are also going to come into the house with a microscope looking for issues. Not to say you shouldn't do so anyway but now they have turned into home inspectors themselves.

The other issue is competition in the same neighborhood at the same price and the seller is willing to do repairs. Yes you now have match up problems. You have 3 levels they have 3 levels, you have a fireplace  they have a fireplace,  Square footage same, bedrooms same, price same! The difference is your home is "as is" and this buyer doesn't know what is wrong with your home until they do a home inspection. All of a sudden your home isn't as attractive. 

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Rainer
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Steven Pahl
Keller Williams Tampa Properties - Tampa, FL
Real Estate Consultant Tampa, FL 813-319-6423

"As is" is a great way for a seller to lose 2 - 3 times the value of the actual repairs.  Repairs, which, directly reflect the initial asking price and eventual selling price.

Sep 03, 2012 01:20 PM #1
Rainmaker
579,727
Chris Smith
Re/Max Chay Realty Inc., Brokerage - New Tecumseth, ON
South Simcoe, Caledon, King, Orangeville Real Esta

Great post Anthony, some Sellers really need to consider your information before they market their homes.

Sep 03, 2012 01:26 PM #2
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Harry F. D'Elia
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

I believe a real estate agent is better off working with a General Contractor to offer up advice on how to spend money to improve the selling points of the home. Investment dollar vs Resale Dollar

Sep 03, 2012 01:54 PM #3
Rainer
234,697
David Grbich
Realty One Group - www.FindCARealEstate.com - San Juan Capistrano, CA
Orange County Real Estate - 949-500-0484

I am seeing the same thing - sellers know it's a sellers market are taking advantage of it. Regards Dave

Sep 03, 2012 02:15 PM #4
Rainmaker
724,201
Wayne Johnson
Coldwell Banker D'Ann Harper REALTORS® - San Antonio, TX
San Antonio REALTOR, San Antonio Homes For Sale

Anthony-As you said it's negotiating. And it depends of the market in your area. In my location I like to remind my Seller clients that Buyers have a variety of homes to choose. You, as the Seller, only have one home to sell. When someone has an interest in your home, make it easy for them to say yes they want your home.

Sep 09, 2012 08:38 AM #5
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Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

It depends.  We do have an abundance of absentee owners in my market and it is pretty frustrating to sellers when buyers get silly on aesthetics.  That's why most sell "as-is" in this market.

Oct 04, 2012 03:50 AM #6
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Anthony Jones Jr.

CDPE Woodbridge, Lake Ridge, Dumfries Homes For Sa
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