Selling House As Is | Pros and Cons of Selling Your Home in As-Is Condition

In this video, Arlington, Virginia real estate agent and Realtor Matt Leighton talks about the pros and the cons of selling your house as-is.

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Selling your home in as-is condition may be the right thing to do in your real estate situation. Let's take a look at the pros and cons of selling a house as-is.

Pros:
- There's not a large, upfront cost with selling as-is. Repairs won't need to be done. Maybe painting, heavy cleaning, and staging are all skipped when selling as-is. This will save you money upfront as you will not have to put a lot of money into the property to get it ready to hit the open market.

- There should not be many contingencies in the contract. When selling a house as-is, you may be working with an all-cash buyer. You may also be getting contracts without a home inspection contingency. With fewer contingencies, there is a less likely chance that the property falls out of escrow.

- Finally, you are saving yourself the inconvenience of all that goes into putting a property on the market. You won't have to deal with contractors. You won't have to line up your schedule with a bunch of different people who need to access the property. It can sometimes be a hassle to put the house on the market. When selling your home in as-is condition, you are saving time, money, and energy.

Cons:
- You will get low-balled. Whenever you put in "as-is" in the description, you are inviting low-ball offers. And don't take it personal, you just have to accept that you will be low-balled and you should have a plan ready for when the low offers do start coming in.

- You will get mostly investors looking at the property. Ideally, you would like investors, first-time home buyers, and other home buyers all looking at the property to purchase. A lot of times with as-is houses for sale, the pool of buyers is limited to just investors. This will also depend on the type of property you are selling as-is. With as-is properties, many buyers just don't want to put in the amount of work and money to bring the property back up to the level that it should be.

- Your as-is home will probably sell for less than comparable properties in the area. It's not going to show as well. It will be more difficult to demonstrate the value of your as-is home, compared to homes that are staged, painted neutral, clean, and that have done everything in their power to make the home show as well as possible.

Since your home will not show as well, pricing your home is even more important. Price it at market value or maybe even below market value. If you price it high, it may sit on the market and you will have to start considering those low-ball offers. Price it at market value or a few thousand dollars below and get the buzz going with buyers that are interested.

Video location: Key Bridge - Arlington, Virginia

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Matt Leighton - Arlington VA Real Estate Agent
Licensed in VA and D.C.
Century 21 Redwood Realty
1934 Wilson Blvd
Arlington, VA 22201

[karlabritfeld]

You're going to get low balled on the house that looks worse. People will assume that if the house looks this bad when it's up for sale, what is not being shown or disclosed? It's assumed the house has not been taken care of. I've bought several houses and this was absolutely true.

[RM-odhg]

Not everyone can afford to spend lots of money to fix up their property maybe they have health issues that has lead to them not being able to work, but some people dont get that unless it happens to them, , some of us are actually dong all we can do to get by. I feel like as a seller you dont have no safety net, so why get an agent to list it, if the buyer has more rights than you?