Should You Sell Your Home "As Is?" The Pros And Cons.

Good morning, Nina Hollander, Broker - During my career, I had a few sellers who wanted to sell "As Is." After providing them with guidance, they always understood more fully why fixing up the things to get the property in the best condition they could, before putting it up for sale, was a better option. And more importantly, before the sale was complete, they really understood making that decision to fix before you list made a big difference in price sold. 

Thanks for sharing Nina!!! I like this statement!

The good news is that you also don’t have to rush into a decision. The busiest time for home buying is usually in the spring and summer. This gives you a few months to take care of repairs if you decide to go that route.

Good morning Nina. Having a discussion with an agent about the pros and cons of an "as-is" sale changes with the times and work necessary. Some things cost more than the return on investment. Some things can be worth the cost. The experienced agent can offer advice on the difference. Timing can be everything. You nailed it. Enjoy your day.

I get that people don't always have money for repairs, but that just tells me that they didn't do a good enough job of maintaining their home, as they should have.  Selling a property "as-is" basically means you are dumping it, and someone else is going to make the profit that you should be making, haha.

Good Thursday morning, Nina. This is good information to share with prospective home sellers.

Good morning! It's usually a good idea to sell after maintenance/upgrade items are taken care of. Unless perhaps you're in a hurry to sell and don't care how much money you get!

Nina Hollander, Broker  depending on the types of repairs it becomes a tough decision. Structural and safety issues must be addressed. If it is a style or cosmetic change, at the very least get the estimates from qualified contactors and let the new buyer make the changes to suit themselves with some allowance made for the work,  not necessarily all.

Good morning, Nina.
From my experience, the only time "as-is" is the best option is when it's the only option. This often happens with estates and when the sellers don't have the money to do repairs. However, as you know, that doesn't mean they can't negotiate some credits based on bids. 

"As is" telling buyers upfront that there are things that need to be done and  they are likely to look more critically at the property, instead of in a positive light.  And this attracts bargain hunters, who are willing to make low-ball offers. It's not a strong negotiating position.

AS-IS is a conversation starter.  Many agents avoid those properties because they do not understand the various avenues for financing and fixing them up.  

Interesting post. In Florida agents will (for the most part) only accept as-is contracts (even on a new home with warranty). We get an inspection period with the ability to negotiate further or back out. We really should use our other contracts, but it is a fight I would rather not make. 

Before we sold our home in NW IN, we hired an appraiser to determine market value and a home inspector.  My husband then made all the repairs noted and there were few of them. We had that inspector and another inspector look at our crawl space and there were no concerns. However when the buyer had his home inspector look, that inspector found inert organic debris - dead mold.  We had to pay to remove it.  

This is a good point, I was reading in the last week somewhere that many younger buyers are starting to look at homes that need some work as they find it difficult to afford ready to move in homes. They are willing to tackle some repairs and renovations.

Hello Nina and great blog to share with us on this Thursday here in the Rain.  Are you in for snow this weekend?

Hi Nina- the best thing a seller can do is talk to their local agent...someone who knows the area. Some repairs, etc may not be worth it. The agent knows the demographics of the potential buyers as well. 

Nina in my opinion it is better to make the necessary repairs, because they will allow for a higher selling price.  But then there are circumstances that not making repairs make more sense, or at least not making all the repairs.  There is no quick answer to this one.

Nina, I used to tell sellers, you want to fix everything you can, so you don't give a buyer a reason NOT to write a contract!

Hi @Nina Hollander

A very balanced presentation on as-is selling which can be a touchy issue for some sellers. They will understand options do exist for them and by consulting with you directly, the pros and cons can be applied to their unique situation. This blog feels like a welcome invitation where sellers can safely discuss a decision with financial impact.