After adding up the costs of repairs and updates to your home, you’ve decided to sell your home as-is. Even if you have to lower your price, so be it. An as-is sale allows you to sell your home in its current condition. This means that you’re not responsible for any repairs, even if they come up in the inspection report.
While an as-is sale in Las Vegas is a smart option for many sellers, it tends to be most common among homes that need a lot of TLC. As you prepare to sell your home as-is, here are some dos and don’ts to be aware of.
Do: Label your listing “as-is.”
Buyers will assume your sale is a regular sale unless you clearly state that it’s an “as-is sale.” While you’ll get less overall interest in your home, you’ll get the right type of interest. Also be sure to point out your home’s highlights to direct attention to the positives.
Do: Consider getting a cash offer.
Some traditional buyers don’t mind saving money on a fixer upper in Las Vegas, but you’ll open up your pool of offers when you consider cash investors. These buyers use their own cash and are willing to make fast, competitive offers.
Do: Prepare for lower offers.
One of the issues with selling as-is is that you won’t always get the full value of your home. Prepare for lower offers, but remember that your home is still valuable. A reputable cash buyer will make you a fair cash offer.
Don’t: Spend time cleaning or making updates.
If you sell your home as-is, you’re selling it in its current condition. There is no reason to paint, clean the carpets or scrub the windows. Just pack up your belongings and that’s it. In an as-is sale, the buyer expects there to be work.
Don’t: Hide known problems with the home.
Even though you won’t be responsible for making repairs in an as-is sale, you are still responsible for disclosing certain information about your home. If you don’t disclose something that you are fully aware of, you can be held liable after escrow.
Each state has their own legal requirements for disclosure. In Nevada, anything that is a material fact must be disclosed. This includes fire, asbestos, mold, water damage and pest problems.
We Buy Homes in Las Vegas in ANY Condition!
When your house needs a lot of work, most regular buyers won’t be interested because they’ll want to move in right away. But a cash buyer in Las Vegas is well-funded and plans on renovating the home, so they’re more likely to make competitive cash offers.
To get a free cash offer on your home, contact We Buy Any Vegas House today. We buy homes in any price range and condition.