The Reality of Selling a Home As-Is

By John Wesley Walker II

We love serving our clients and making their goals possible! Our goal with every transaction is to build a relationship to make sure that our clients wants and needs are met. We pride ourselves on communication and quick action. Don't settle on average marketing and advertising when it comes to selling your property. Don't settle for an average agent that only sells 3-4 homes a year. You deserve an agent that knows the market and how to get the best results. Our team will do everything we can to exceed your expectations!

Can you sell your house as-is? Absolutely. But here’s the catch—if you’re determined to sell your house as-is, you need to prepare yourself for the likely outcomes, and you might not like them. Today, I will explain the four possible issues that may arise by selling your home as-is:

1. Limited buyer pool. One key aspect to consider is that selling your house as-is can limit your pool of potential buyers. If your home requires significant repairs, buyers relying on bank financing may not be able to proceed with the purchase due to the condition of your property. This means that banks may refuse to finance a home loan if your home is in a bad state. When this happens, you can only sell to investors or to buyers who will be paying in cash.

2. Failed contracts. Even if you’ve signed a contract with a buyer, if the bank refuses to finance the purchase due to the condition of your property, what may happen here is that the deal will fall through three to four weeks into the sales process because the buyer can’t find a bank who will be willing to fund the purchase.

3. Insurance issues. Another aspect you need to consider when selling your house as-is is that insurance companies may refuse to insure the property if the condition of the house raises red flags. This, once again, ties back to the financing aspect, as banks typically require insurance for financed properties.

4. Sell at a lower price. While you can sell your house as-is, it’s important to understand that you may have to adjust your price. This is because when buyers look at homes that need repairs, they often expect a lower price to offset the costs they will incur to make the property livable or marketable again.

Selling your home is a big decision, and you can only do it once, so it’s advisable to consult with a trusted real estate agent during your planning process. If you partner with us, we will go to your property to assess its current condition and give professional advice, particularly on whether making certain repairs or improvements could significantly increase your selling price. Even if you’re on a tight budget, you have to consider that a simple repair that may cost around $500 to $1,000 may result in $30,000 to $40,000 more in the total selling price.

If you’d like to explore your options further, feel free to reach out to us by calling (318) 794-6769. We’re excited to help you navigate the selling process and get top dollar for your home. We look forward to talking with you soon!