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I want to sell my house "as is". What's the best way to go about this?

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July 12 2011 - Federal Hill
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Answers (9)

Hello FedHiller~

That's a good question...there are a few factors to consider.  An "as-is" sale must be disclosed in your listing, in other words, it must be clearly stated in the MLS once it's an active listing.
Keep in mind, there may be FHA required repairs, meaning the Buyer's lender may require that certain items are repaired prior to settlement in order for the Buyer to get their loan & keep the process moving forward.
Also, the term "as-is" can scare some Buyer's away.  Many of them, especially the first-time Buyer, prefer to negotiate repair items with the seller & sometimes Buyer's wonder "what is wrong with this home if the Seller is selling it "as-is"??
Lastly, be realistic with the price.  If you price it right in the beginning, and aggressively, you should get a lot of traffic & ultimately an offer.
I specialize in the Federal Hill, Canton, and downtown market.  If you'd be interested in speaking further, please reach out to me.  I'd be happy to help you.
Best,
Janel Burroughs
410.350.9568
janelsellsmdhomes.com
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July 13 2011
Hello Fed Hiller,

Selling your Home "AS IS" is very simple.  You simply place in the public remarks section of the MLS advertisement that the home is "SOLD AS IS" and that inspecitons are for informational purposes only.

The Listing agent will then require the use of a special addendum known as the "AS IS" addendum.  This addendum makes the buyer initial off stating that they will take the home as is and the inspection will be only for informative purposes. 

I specialize in Canton and Federal Hill Sales. Feel free to contact me should you have any further questions and i would be glad to help guide you in the right direction.

Kind Regards,
Tim Kenney, REALTOR
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July 13 2011
Hi FedHiller, you can sell your house "as is" if you price it appropriately, and state it on every form, and disclose what it is that you know in terms of issues.
There are steps you can take.
I'd love to speak with you more about this and learn more about your situation and details.
Please let me know if I may be able help you.
Sincerely,
Marney Kirk
Keller Williams Excellence Realty
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July 12 2011
Depends on what "as is" means to you.

There are some condiderations you firt must take into account.  Can you truly sell a house "as is" in your state?  Many states do have disclosure laws and you must state any latent material defects that go with the home.

If you mean "as is" in that you don't want to do any repair requests for a buyer, I would discuss with a local real estate agent the impact it may have on the marketing of your home.  When buyers see as is it sends up a red flag and also get the investors out wanting to steal the home.   "as is" home are expected to be priced very aggressively.
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July 12 2011
The best way to go about it is to speak with a knowledgable real estate agent about what your idea of "as-is" really means and how it affects the overall marketability of your home.  Is your home located within a neighborhood with a high percentage of listed homes with improvements? Do you have deferred maintenance or repairs that would deter buyers from making a fair price on your home?  How would that affect the overall days on market for your home?  You would not want your home to become market worn even if the listed price reflects a discount from competing listings with improvements in move-in condition.  Remember, buyers are smart and are constantly doing their homework.  We would want to get your home an offer in the early stages of the home's listing so that the "as-is" condition does not work against the property!
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July 12 2011
Put yourself in the buyer's shoes. Overcome objections before they start.
1. Identify property boundaries with a survey
2. Obtain a wood destroying insect (WDI) pest inspection showing any evidence and treatment of termites
3. Obtain Windstorm certificate for roof (in coastal areas or where applicable) from the Texas Department of Insurance so buyer can obtain insurance quotes
4. Obtain a property inspection from a Texas licensed inspector
5. Service HVAC & provide paid receipts 

Most buyers fear the unknown & 'what-if' something breaks or needs repair. Provide buyer with a residential service/home warranty.

Inspections pior to sale + home warranty will help support an "as-is" and HAPPY sale.
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July 12 2011
Price it correctly and it will attract buyers regardless of the condition. Use your "Zestimate" and list it for 10% to 15% lower.
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July 12 2011
The best way to do this is to have your listing agent make it known on the listing that you are selling the home strictly "as is" so that there is no confusion among potential buyers and their agents. 

One thing to keep in mind with "as is" sales is that a lot of buyers, especially first time buyers hesitate to make offers on "as is" homes since you are disclosing upfront that you will make no repairs.  Most buyers prefer the opportunity to negotiate after home inspections.

One other aspect to keep in mind is the pricing of your home.  Do not overprice it as it will only deter buyers from viewing it.  Price it based on "as is" value and aggressively so that you get the most action on your home.

Keep in mind that if your home needs essential repairs it may eliminate FHA/ VA buyers, which is the majority of the market.
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July 12 2011

The Most important thing you can do as a seller in this case to to make sure that you will not run into any problems with required repairs from the buyers lender.  I would get a certified inspection. This will point out any potential issues. 

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July 12 2011
 
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