What Does Selling a House “As Is” Mean?

chofhine • Jun 29, 2022
What Does Selling a House “As Is” Mean?

You’ve probably seen the term “as is” in the description of a house for sale. The term means the property is being sold in its present condition, and the owners do not intend to make any repairs. The “as is” designation can be a problem, but a cash buying company can help.

Why People Sell “As Is”

People sell their homes “as is” for a variety of reasons. Sometimes they need to relocate quickly and don’t have time to fix it up first. Other times, they just don’t have the cash to invest in making repairs.

An “as is” home sale is also common for inherited homes. The heirs may not have the cash to invest in the home, or they’re just not interested. Rental homes are also frequently sold “as is.”

Why “As Is” Can Be a Problem

A home with “as is” in the property description can be slow to sell on the market. While owners have to disclose certain known problems, such as a leaky basement, there may be issues that haven’t been discovered yet. Potential buyers are leary.

The sales price is going to be significantly lower on an “as is” house than on a comparable house in great condition. Anyone willing to buy knows they will have to invest thousands of dollars more to fix it up. And, if the home inspection shows major problems, a buyer could demand you lower the price even more if you want to sell.

How a Cash Buying Company Can Help

Rather than taking a chance on the market, many homeowners are now turning to cash home buying companies to sell their “as is” homes. These companies specialize in buying homes in less-than-perfect condition. They then resell them to home renovators or fix them up themselves for resale.

A cash buying company will offer you cash for your house within 24 hours of contacting them. Then, you can often close within a week or so. They’ll never ask you to make repairs or do anything else to the house.

Making repairs to a house before selling it is expensive and time-consuming. Listing “as is” can be problematic. To avoid the hassle and uncertainty, dealing with a cash home buying company may be a good solution.

You can sell your Utah home “as is” quickly and easily. Click here to learn more .

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