Do you need to sell your house? For homeowners that are unsure of whether or not they want to upgrade their home, it may be advantageous to find an as-is sale option. Homeowners who have exhausted all options for renovating can list their property and wait for someone else with the expertise or money necessary to remodel.
Others are unwilling to go through a rigorous listing process, showing and negotiating with buyers. Instead, they prefer not to spend a lot of time waiting for the sale while also spending money out of pocket in order to help make it easier for buyers.
Selling your home as-is can help solve many problems. The following are five challenges that an “as is” sale can overcome in northwest Arkansas.
1. Holding Costs Can Add Up Quickly
When it is time to sell your property, you may be faced with additional costs that you never expected. First of all, there are home staging fees, which can include professional cleaners and someone to come take pictures of the house. Then, a realtor will likely charge a commission rate for their services. There are also closing costs associated with selling a home, which can even include fees for your lender and their attorney. If your house doesn’t sell right away you will still be stuck paying all the utilities and taxes on the property. Many homeowners get stuck in the unfortunate situation of paying two mortgages if they have already purchased another house.
When you sell “as-is,” all of these additional expenses are no longer necessary. You save money because it is not necessary to pay the extra costs associated with making your property look nice for buyers.
2. You Don't Want to List Your Home For Sale
When you list your house for sale, you have to spend time and money doing repairs and preparing the property for showings. You may also find that buyers will want you to take care of some home improvement projects or do improvements before they purchase your home. Maybe you think realtor’s scam people out of money.
When selling as-is, you do not have to deal with potential buyers trying to negotiate home improvement projects. You simply sell your house and allow the buyer to take on any project that needs attention.
3. Home Repairs Are Expensive & Time Consuming
Negotiating with contractors or other workers can be a difficult task if you do not have the expertise necessary to hire people for services. You may also be faced with negotiating major repairs that will require you to spend additional money out of pocket in order to get a buyer.
You can sell your house as-is, and the contractor who buys your home may negotiate on price with you directly or offer to pay you a percentage of the sale price if you will agree to perform some repairs in advance.
4. No Unnecessary Fees
Agents receive a percentage of the selling price for helping sell your house. If you sell your home as-is, you will not have to pay a listing fee and the money saved can help with repairs or other expenses that you may incur when selling real estate. Imagine giving away 6% of every item you personally own so someone else can sell it for you. This is easily tens of thousands of dollars for some homeowners. The example below shows you a sale with and without agent fees.
Property Value: $150,000
3% Seller Agent Commission – $4500
3% Buyer Agent Commission – $4500
Closing Costs – $3700
Staging – $1000
Repairs – $2000
Net – $134,300
Little Rock Property Buyers Commission – $0
Closing Costs – $0
Staging – $0
Minor Repairs – $0
Cash Offer – $138,00
5. Exposure To Buyer's Home Improvements Or Renovations
When listing your house for sale, you may have to accept a buyer’s needs for renovations and remodeling projects. This could include major additions or new flooring. If the house does not sell after a period of time, then you will be faced with making home improvement decisions that can result in costly mistakes.
In many cases, sellers who are unhappy with their home are anxious to sell it as-is in order to move on to a new property. Others, however, see the benefit in not having to make major renovations. Regardless of your reason for choosing an “as is” sale, you should take steps before signing the contract and meeting with potential buyers so that you can get a fair price.
If you have the motivation and time to get your home ready for showings, then listing it for sale is a viable option. This will allow you to negotiate with buyers and potentially sell your house quickly. However, if you are unsure of how much money you can generate from a traditional sale, an as-is sale may be right for you.
Little Rock Property Buyers specializes in helping home owners sell their house as-is for an agreed upon price. We buy houses throughout Northwest Arkansas and will give you all the options to sell your house. Contact us today for a cash offer in less than 24 hours!