NTX Home Buyers

Is Your House As-Is?

 

How To: Sell House Fast In “As Is” Condition

Selling your house “as is” sounds great for people needing to sell their home quickly. You don’t have to worry about cleaning, repairing or fixing anything. For buyers, an “as-is” sale means there will likely be weeks and months of repair and cleaning needed. Depending on who maybe looking at the prospective home, it will be seen as not worth the effort.


On the other hand, an investor or house flipper, most likely sees the as-is property as a project with opportunity attached to it. The question really is… What is “as-is”? And when does the meaning change for different people?


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Is your house considered “as is”?

Usually when a house is listed under as-is, it means that the current owner wants to sell the home with no changes made. Literally they want to sell their home now, fast and sometimes for a cash offer. The term “as is” does not show up on properties that are ready to move into or are in perfect condition.


Typically the property owners are ready to get rid of the property because it is so expensive and time consuming to make the repairs needed in order for the house to be livable again. It is also a possibility that the homeowners have been through a foreclosure and the property has subsequently been owned by the bank. Also quite a few people prefer to sell their homes for cash up front rather than face foreclosure and have that history on their record.


What this boils down to is that the buyer of this “as-is” house has a significant amount of work ahead of them to make the purchase of the property a profitable venture.


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The good, the bad and the ugly house. What should you do?

It all comes down to the “cash value” of the house. In most cases the term “cash value” determines whether the house is a fixer upper or a dead log in the water. Basically the question that has to be answered by the potential buyer is, “Does the cost of repairs and time invested come out less than what it would be if the home was sold in perfect condition?”

 

If the answer is Yes, then a buyer will make a cash offer for the property and if the answer is No, then depending on what the land value is may make a much lower cash offer or just pass on the property altogether.


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Can I sell my house as is in bad condition?

The simple answer is yes you can. Just be wary of a few things. The biggest of which is accepting a blind offer over the phone or only having someone remotely appraise your property. If you want the best offer or deal available, only consider a cash offer after someone has come in-person and inspected your house or property with boots on the ground.


The problem with blind offers over the phone is that once they see the property, most times, they counter offer significantly lower. They use a much higher estimated value just so you won’t look elsewhere and then switch the price on you. It is a dishonest business practice and not one that would ever be practiced at NTX Home Buyers.


We only make offers after walking the property with you and only do so in full transparency.


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What’s next?

That is up to you. If you want to consider a no-obligation cash offer on your property, we will gladly speak with you over the phone to schedule a walk through of the property.


If you just have some questions about the process itself or questions about legal matters or issues with foreclosure, probate, divorce, etc… we have heard and seen it all. We know how to take care of these issues and will be happy to share our knowledge and experience with out.


We wish you the best of luck on your journey to sell your house as-is. Thank you.

-NTX Home Buyers

 

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