We hear it all the time when dealing in these local markets…Homeowners want to sell their property in “as-is” condition without being forced to make costly repairs that will delay the sale of their home and potentially cost them thousands of dollars in repair costs. There are many benefits to selling your home as-is for cash to a local investor, and here is How To Sell A House As Is In El Paso County.
What Does it Really Mean to Sell a House As-Is?
Selling a property in “as-is” condition simply means that the seller of the property wants to proceed with the sale of the home without performing any repair work in order to get it ready for retail sale on the local markets. An as-is sale typically refers to the actual condition of the property itself, and not the title, or deed of the home. When selling as-is, the seller doesn’t have to disclose any of the properties defects to the buyer, since they have already previously agreed that the home is being sold in it’s existing conditions, without any repair work being done to spruce it up for the local markets. Some of these unlisted property defects could include structural damage, water damage, mold, and other hazardous conditions such as asbestos and more. Adding an as-is clause to the contract will not absolve the seller of the liability of these various hazards, especially if there is an attempt to cover them up, and hide them from the buyer during the sale of the property.
Do Cash Buyers Want Rehabbers in Colorado Springs?
If you’ve been looking to sell your home as-is for cash fast in Colorado Springs, it’s critical that you market your house to investors as a “fixer upper” property, because that is what the majority of them are searching for. This is because these “house flippers” are looking for properties that they can fix up, and then rent out or resell on the local real estate markets for a nice profit. So if you find yourself in a situation where you need to sell straight to a cash buyer, then you can usually pick up a free online quote and close on the deal in as little as 7 days. Many homeowners prefer to deal with a cash buyer when selling their unwanted, burdensome property because they will not be required to fix up the home, and they will also be able to avoid any commissions or fees that would normally exist when dealing with a local real estate agent. So how do you determine if you are going to list in with a local agent on the MLS, or deal strictly with a cash buyer? Well, you must ask yourself certain specific questions that will give you a better idea of the timeline that you are dealing with, and what price you need to sell at. If you aren’t willing to make the repairs and need to sell the home quickly, dealing with a cash investor is the obvious choice.
If you have the money, and aren’t on a specific time line, then it might be worth it to attempt to fix up the home yourself, or hire some contractors to do the work and then list it with a local real estate agent. This is definitely the way to get the most money for your home. But the caveat is that you will have to wait several months, or sometimes even years in order for the contractors to finish the work, and the realtor to list the property, and find a buyer. For many people who are facing foreclosure or divorce, this simply isn’t an option…so dealing with a cash buyer becomes even more attractive, and something that appeals even more to people in these types of stressful situations.
How Do I Get The Highest As-Is Offer Possible?
Step 1: Get multiple offers from a variety of local home buyers. If you come across a reasonable offer that makes sense for you and your family, then it might be a good idea to jump on it. Just beware of foreclosure scams in Colorado Springs.
Step 2: If you are not on a very strict time line, and you aren’t under extreme pressure to sell your home quickly, then listing your home with a realtor or selling it FSBO could be a sensible option for you and your family. If you do decide to list it with a local real estate agent, be sure to add in an exclusionary clause inside of the commission terms papers, which will save you a large sum of money should you decide to change your mind and accept a cash offer on the home. This could potentially save you thousands of dollars down the road, and is always smart to include in the contract, regardless of the situation.
Step 3: Choose the best offer. Use your judgement and deal with a reputable company that has some reviews, and comes across as very professional. USE COMMON SENSE!