Can You Sell a House as Is, Even if It Needs Repairs?
Ask most people what you have to do before selling your home, and I guarantee the most common piece of advice you’ll hear is that you absolutely must take care of any necessary repairs before putting it on the market.
It could mean finally tackling that nagging plumping problem to even paying to have the entire house repainted.
It’s this kind of advice that often convinces people to hold off on selling their homes, even if they have every reason to do so right away. If it’s going to cost that much money and take that much time to get your house “market-ready”, maybe it’s best to wait.
Generally, whether or not you can sell a house as is when it needs major repairs comes down to a few important variables.
Can You Sell Your House as Is – Even if It Could Use Repairs?
The short answer to the question I posed in the title is that, yes, it is possible to sell a house as is even when the property isn’t in the best possible condition.
With that being said, I want to go over the most important factors you’ll want to consider before making this decision.
The Current Condition of Your Home
When most homeowners wonder if they can sell their house as is, it’s because they’re worried that its condition might be too much to attract any real interest.
However, there’s a big difference between a house that needs the living room repainted and one that will need whole rooms renovated – from floors to walls.
For example, here are 10 of the most common repairs new homeowners have to invest in when they buy a property:
- Broken Garbage Disposal
- Leaky Faucet
- Running Toilet
- Cracked Siding/Peeling Side Paint
- Nail Pops
- Cracked Concrete
- Drywall Patching
- Bathroom Caulking
- Clogged Drains
- Leaky Pipes
If any of these are the reasons you’re worried about selling your house in its current condition, don’t be. It would probably be best if you paid for those repairs first, but you shouldn’t have to worry about losing too much on your asking price because of them.
On the other hand, if it’s in need of much more serious repairs, you may struggle to sell it. You can still list it, of course, but you will probably need to lower your expectations about what you’ll get for your home. If you list it and the offers are below the absolute lowest amount you’ll accept, then you’ll have to pay for some repairs first.
The State of Your Local Housing Market
Again, you can almost always sell a house as is. It’s just whether or not you’re willing to take the kind of price someone will offer you for the property. It’s why a good consideration is what the current housing market in your area looks like.
Specifically, you want to look for signs that it’s a seller’s market. These would include things like:
- “For Sale” signs are only up for a few days at a time
- Comparable prices are lower than prices for active listings
- Median sale prices for homes is increasing
- Number of sales for home is falling
- Real estate ads are on the decline
Obviously, if buyers can’t be as picky with the homes available to them, many will be much more open to purchasing a house that needs some work.
Your Timeline for Selling
There are all kinds of reasons people decide to sell their house as is. Often, it’s simply because they need money ASAP. They might be fighting mounting debt, bankruptcy, or took on unexpected healthcare-related costs.
Other times, they’ve accepted a job opportunity in another state or are enjoying an unforeseen windfall and have decided to move elsewhere.
Whatever the case, if you’re in a rush to sell your home, then selling it in its current condition may actually be the only choice you have.
If your timeline is a little more flexible, then you can still sell it as-is, but you might want to think about taking a month or two to handle some important repairs before putting your home on the market.
Looking to Sell Your House as Is without Paying for Repairs?
As you can see, it’s definitely possible to sell your house as is, even when it’s not in the most pristine condition.
My colleagues and I buy homes like this all the time. It’s even in our very name: Problem Property Pals.
We are always on the lookout for motivated sellers who are ready to sell their homes right away. Often, this means they’re not in the best condition, which is just fine by us.
In fact, not only will we buy your home as is – regardless of what that means – we’ll do so in cash and give you the total amount all at once. Most of the time, we’re able to pay the whole sum just a few hours after we first see the house.
So, yes, you can sell your home as is and you can even do it quickly and for top dollar.