If you are selling an old and dilapidated property, try going the as-is basis route. On the surface, it may seem like selling a house on an as-is basis would fetch considerably low returns, but this isn't necessarily the case. Here are a few reasons an as-is basis sale can still fetch you good money:
You Won't Spend a Lot of Money Upfront
A conventional sale requires considerable upfront expense. The buyer expects a house in a perfect condition, and you will strive to give them exactly that. This includes making repairs, taking care of your landscaping and generally sprucing up the house. There is no guarantee that you will recoup this investment during the sale, which means you can lose some of them.
Anybody buying a house on an as-is basis understands what they are getting so you don't have to repair the house for them. You may not even have to repair anything, for example, if the buyer is planning to tear down the property and construct another one.
You Get Your Money Fast
Having your home sold fast may not seem like a financial advantage, but it is. When you opt for a conventional sale, you have to take care of some repairs, and property repairs don't happen overnight. The more your property stays on the market, the more you will need to do to hasten its sale. You may need to make appearances during inspections or viewings and coordinate with a realtor. All of these things take time; the time you would have used to operate your regular business. You don't have to make repairs when selling a property on an as-is basis; this usually hastens the sales process.
You May Enjoy a Cash Purchase
Financiers aren't too enthusiastic about as-is property purchases because they fear hidden damages. This is why some people, such as investors, buy such properties with cash. If you are lucky enough to get such a buyer, you will enjoy associated benefits such as reduced closing costs and reduced risks of unrealized sales.
In short, don't always assume that an as-is sale will not fetch you as much money as a conventional sale. Anything can happen; it all depends on the circumstances of the sale (such as the neighborhood and the prevailing status of the real estate market) as well as the true condition of the house. A property agent can help you analyze your house and determine whether the as-is sale is the route to take. Contact an agent, like Lisa Weissgarber-Harder | San Antonio Real Estate Agent, for more help.Share