Silver Spring, MD Home Seller FAQ: Why shouldn't I sell my house as-is?

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Real Estate Agent with Thompson Company, REALTORS® MD594797
https://activerain.com/droplet/498b

Silver Spring, MD Home Seller FAQ: Why shouldn't I sell my house as-is?

When you are getting ready to put your Silver Spring, MD home on the market, quite a few decisions have to be made: from choosing a brokerage & listing agent to showing instructions, from whether or not to allow listing syndication and 3rd party evaluations to filling out the property disclosure or disclaimer, from staging to whether or not you should list your home as-is.

Should I sell my house as-is?As-is means that what the buyer sees, is what the buyer gets. You won't be replacing that 40 year old furnace or that stained carpet nor put in new triple pane windows. What it does not mean is that electrical, plumbing, mechanical items can be non-functional or inoperable.

Per the Maryland Residential Contract of Sale "All electrical, heating, air conditioning, plumbing (including well and septic), and any other mechanical systems and related equipment, appliances and smoke detector(s) included in this Contract shall be in working condition." (page 4, #21)

At first glance an as-is sale might seem like the most convenient solution for you, the seller. But once you consider the above paragraph, is it really? As-is doesn't mean including all broken down equipment - unless you can get the buyer to agree to strike the above paragraph.

Think about what message you are sending to the buyer as well: an as-is will always raise a red flag with buyers and buyer's agents alike.

They will walk into your home expecting to find (a lot of) things wrong with it and if nothing immediately stands out, they might wonder what you could possibly be hiding. Some will not even bother looking at your home because they expect problems, maintenance issues and/or a home in need of upgrades.

By checking that one little box, sold as-is, you could be losing out on the buyer, the one that could be bringing you the highest and best offer!

As a side-note, negotiations don't necessarily stop when the Contract For Sale is ratified. A counter-offer can be made to the buyer's repair request (you could offer to repair a few of the items or offer a credit instead) and you also have the option to declare the contract null and void if no mutual agreement can be reached.

Silver Spring, MD Home Seller FAQ: Why shouldn't I sell my house as-is? Because even an as-is comes with stipulations and because you don't want to raise a red flag and want to sell for highest and best.

*Blog post intended for informational purposes only. Consult an attorney if you are in need of legal advice*
Posted by

ANDREA BEDARD, M.A. ~ THOMPSON COMPANY, REALTORS ~

 

 

   

                                                                                                              

 

Thompson Company, REALTORS
16910 Oak Hill Rd, Silver Spring, MD 20905
o: (301) 384-9177 c: (240)593-2860

andreabedard.re@gmail.com

Andrea is a REALTOR® based in Silver Spring, MD. She has enjoyed assisting buyers and sellers since 2004 and focuses on residential Real Estate in  Montgomery and Howard County, MD. Andrea is a proud mom and hobby decorator with a vintage soul. She always answers the phone with a smile, enjoys running and treasure hunting and is addicted to coffee.

 

 All photographs are my own and I'd like to keep it that way. All information is deemed reliable but not guaranteed.

 

 

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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

It does create quite a message to the buyer when you check that box, a lot of unanswered questions that translate into a much lower offer.

Jan 07, 2014 11:45 AM #1
Rainmaker
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Andrea Bedard
Thompson Company, REALTORS® - Silver Spring, MD
M.A.; REALTOR® Silver Spring, MD and beyond

Most certainly Bob! When I see the as-is checked on a listing I want to show buyers, I immediately wonder why? What's wrong with it?

Jan 07, 2014 12:09 PM #2
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Rainmaker
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Andrea Bedard

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