Are you a property owner in San Diego, California, faced with a tough decision? Are you wondering whether you should sell your home as-is, or should you put money into fixing your home before you list it on the market? If you are undecided on the best course of action, read on for the pros and cons of each.
In most cases, an owner listing their home or property as-is refers to the physical condition of the home. In some rare cases, as-is may refer to the deed or title of the house in question. Homeowners who decide to list their house on the market as-is means that they will not be doing any repairs or updates to the house or property before the sale. In layman’s terms, “what you see is what you get”.
However, selling a house as-is in San Diego county doesn’t mean that the owner can hide issues or problems of the home. They are still responsible for disclosing any problems that would affect the value of the home or the ability of the purchaser to reside in the house.
A buyer must tell all potential buyers about foundation problems, major plumbing issues, mold, structural issues, and other environmental threats that could pose a risk after the sale. As long as these problems are disclosed upfront, a seller can list his or her house as-is.
There are a number of benefits that come with selling a home in San Diego as is for the seller and the buyer.
The Market for Fixer-Uppers
You’ll often find numerous buyers searching for a home that needs light repairs. Some sellers promote their homes as “fixer-uppers” because they attract certain buyers. These buyers are okay with buying a house that needs upgrades or light repairs. In most cases, homeowners of distressed properties aren’t looking to take care of major repairs, such as a crumbling foundation or structural damage. However, you can find companies that will purchase homes with major problems, like I Buy SD, even if individual buyers shy away from them.
In some cases, doing the repairs or upgrading areas of the home will be the best plan for potential sellers. Sellers should be aware that this option will require time, money, and experience. If you cannot do the labor yourself, you will have to pay a company to do it for you.
Take a look at houses that are on the market in your city to find out what will need to be done to your own house to sell for full retail value. Make notes of how long each home has been for sale and what the condition of it is. Look at how much money you will have to put into your own home to compete against others in your area.
Selling a home as-is in San Diego CA is an easy process once you decide to list it that way. The hard part comes with trying to decide whether or not to do it. If your home just needs an upgraded guest bathroom and a fresh coat of paint, then it may be well worth the effort to do it yourself before selling. If your house needs extensive repairs or major upgrades, you may decide to simply sell it as-is to save you the time and money.
Once you have decided that selling your house as-is will give you the best advantage, use the following tips to get the most money from the sale even if the house is vacant.
How much will the value of your home be after the repairs?
You’ll want to know what your house will be worth if you decide to do the repairs on your own. An online tool can help you best determine those numbers.
How much will updates and repairs cost you?
Once you have some estimates, don’t be intimidated at the numbers. You don’t have to have an exact figure. Look for guides both online and locally to help you determine this estimate.
Come up with a fair price for your house in the as-is condition
This is typically the most challenging part of selling your home as-is. Figuring out what kind of discount to give your potential buyers can be a frustrating process. If your home only needs some light repairs or upgrades, it may be best to list the house online. If there are major repairs that will need to be taken care of, then a cash home buyer might be your best option.
If you are working with a real estate agent, they may advise you to sell your house to a cash home buyer if it requires significant repairs or updates. Instead of needing to pay a six percent commission and additional fees, contact I Buy SD and sell it to a cash home buyer on your own terms.
Will the cost of the repairs and upgrades end up worth it?
Figure out if repairing or updating your house is worth it when looking at how much money will end up in your pocket. You’ll still have additional fees when you sell it, such as buyer concessions, appraisal costs, escrow fees, inspection fees, and other expenses that come with selling a home on the market. These fees will account for around 8 to12 percent of your home’s final price.
Address the following if you decide to take on the necessary repairs:
Consider the Following
Figuring out whether your home should be sold as-is will not be an easy choice. Consider all that you have learned here to help you decide what would be the best choice for your situation. Contact us today at (858) 218-0042 or use our online form to discuss your options.
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