Selling an ugly house can be STRESSFUL. Most buyers are terrified of an ugly house because they lack the experience, money and vision to remodel it. Finally, you do find that buyer and their offer is lower than you wanted. Then they have a home inspection! Next thing you know, you’re getting a list of repairs that’s 15 pages long. You give into their demands because you’ll do anything to get this ugly house sold at this point and then… the bank decides that they wont lend on a house in this bad of shape. What can you do?
You can sell your house AS-IS, which means that you aren’t responsible for making repairs prior to the close of escrow. Here are some things to keep in mind should you decide to sell your house AS-IS:
1. There are some repairs, such as code violations, that should be addressed if you want retail buyers that will be getting financing. sell house cash Montgomery County
2. The house might need substantial repairs, but that doesn’t mean it shouldn’t be clean and neat.
3. Be prepared to get a lower price for your house.
4. You still need to fill out Seller’s Disclosures accurately and honestly and you need to make it very clear (in writing) to the buyer that they’re buying AS-IS.
Typically you need the buyer to pay all cash to get an AS-IS sale done. Buyers that buy houses all cash have the ability to close very quickly, as soon as a week, because they don’t have to wait for bank approval. So as the seller you don’t have to make any repairs and you get to sell your house as fast as possible. This can be a winning combination, but you have to be prepared to sell your house below market value to accomplish it. This all cash buyer is taking on a lot of risk to pay all cash for a house that needs a substantial amount of repairs.
If you want to sell your house as fast as possible without making any repairs, the best option is to sell to an investor. An investor will pay all cash and be willing to take the risks associated with buying a house AS-IS. They know that time is of the essence and that sometimes the seller needs cash in a hurry. Often times an investor can get you your cash in as little as a week, but they’re also flexible enough to close on whatever timeline you desire.