A recent study from NAR shows 61% of sellers made minor repairs before selling, while 39% chose to sell as-is. But sometimes life gets in the way and that’s just not possible. Maybe that’s why, 39% of sellers chose to sell as-is instead (see chart below):
What Does Selling As-Is Mean?
Selling as-is means you won’t make any repairs before the sale, and you won’t negotiate fixes after a buyer’s inspection. And this sends a signal to potential buyers that what they see is what they get.
If you’re eager to sell but money or time is tight, this can be a relief because it’s that much less you’ll have to worry about. But there are a few trade-offs you’ll have to be willing to make. This visual breaks down some of the pros and cons:
Updated homes typically sell for more, as buyers prefer move-in-ready properties. Selling as-is may limit your buyer pool. And less interest from buyers could mean fewer offers, taking longer to sell, and ultimately, a lower price. Selling as-is is easier, but the final sale price may be lower than if you invested in repairs and upgrades.
Your house can still sell as-is, but it may not fetch as much as it would in top condition.
Here’s the good news though. In today’s market, as many as 56% of buyers surveyed would be willing to buy a home that needs some work. That’s because affordability is still a challenge, and while there are more homes for sale right now, inventory is lower than the norm. So, you might find there are a few more buyers who may be willing to take on the work themselves.
How an Agent Can Help
So, how do you make sure you’re making the right decision for your move? The key is working with a pro.
A good agent will help you weigh your options by showing you what comparable homes in your area have sold for, and what updates your neighbors are making, and guide you in setting a fair price no matter what you decide. That helps you anticipate what your house may sell for either way – and that can be a key factor in your final decision.
Once you choose your selling route and set the asking price, your agent will market your home to maximize its appeal. And if you decide to sell as-is, they’ll call attention to the best features, like the location, size, and more, so it’s easy for buyers to see the potential, not just projects.
Bottom Line
Selling a home without making any repairs is possible in today’s market, but it does have some trade-offs. To make sure you’re considering all your options and making the best choice possible, let’s have a conversation.
