how do you sell a house As Is?

3 bedroom, 2 full bath, addition to back of home, needs a new roof and plumbing work. Westside of Detroit.  48204 


lanson256@yahoo.com
  • June 01 2014 - Detroit
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Answers (5)

Most purchases, strictly speaking, are "as-is" (the CAR Residential Purchase Agreement indicates so.)  However, there are three things to consider:
1.  There is nothing that prevents the buyer from asking for repairs or a credit, even with a previous understanding that the sale is "as-is."  You as the seller have the discretion of consenting to or rejecting the buyer's request.
2.  There are certain repairs or improvements that may be in your best interest to do as a seller.  These would include things like broken windows, missing toilets, etc., that would be part of the Minimum Property Requirements (MRPs) for a buyers loan.  By making the property "financeable" you increase the pool of prospective purchasers and are likely to net a higher return on the sale.
3.  Be open to rehab financing (such as a 203k) in which the buyer will close on the as-is property with a loan, but will be required to bring the property to MRP standards within 60 days.

Hope this helps.  Feel free to contact me with any further questions.  Best regards.
  • August 14 2014
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Profile picture for Jason Bolyard
Keep in mind AS IS can be a little misleading.  I have many clients who tend to think AS IS means any undisclosed issues that arise in the future or lender or state required items wont be completed by the seller.  Remember that some things are required by law.  Some states require carbon monoxide detectors, water heater straps, smoke detectors and so on.  If your home does not meet these requirements you will be required to fix them even if your selling your home "as is".  In addition this also does not give you any variance on not disclosing deficiencies in the home such as an addition without permits.  Some counties will not even allow you to legally sell the home until it has been brought to code. 
  • August 14 2014
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At a discount rate. No one is going to pay premium price for a home that needs work. Ask your REALTOR to compare it to the market and give a discount for repairs. At the right price, any home can sell fast in today's market 
  • August 14 2014
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Your Realtor will put "as-is" in the comments. This lets the buying agent/buyer know that you are not doing any repairs to the property before it sells. It also puts everyone one on notice during the negotiations that you are not doing repairs if they show up during inspections. If you need any assistant selling your home please feel free to contact me Norma Hollins  [contact info deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines]
  • June 01 2014
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Profile picture for Outer Banks N C
All houses are sold as-is unless you plan to build it or promise to add something to it later.
  • June 01 2014
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