The Pros and Cons of Selling Your Home As-Is

The average home sits on the market for 22 days and the average time to close on a house purchase is 49 days. This means the total process from listing to closing takes 71 days on average.

This doesn’t include outliers that cause the sale to take much longer. If you don’t want to wait on your home to sell or go through a prolonged closing process, consider selling your home as-is.

Keep reading to learn the pros and cons of doing this.

Pro: Quicker Closing Process

The obvious pro of selling your home as-is is that it leads to a faster path to closing. You’ll immediately put your house up for sale without worrying about repairs or other selling processes.

If your buyer has the funds or access to a loan, you can speed up the entire sale.

Con: Lower Selling Price

Selling a home as-is means you likely won’t get the highest price. You’ll save money by skipping repairs but you’ll only attract bargain buyers.

To have a better chance of getting a fair amount for your property, try to increase home value first.

Pro: Fewer Selling Costs

Learning how to sell your home fast can save you from the additional costs associated with the selling process.

Selling your home as-is keeps money in your pocket. Not only do you save by foregoing repairs, but you don’t have to pay some of the closing costs.

Con: Fewer Interested Buyers

The best tips for selling your home involve finding as many interested buyers as you can. This is not plausible when you sell your home as-is.

You likely won’t get a big crowd or a lot of interest, especially if the market in your area isn’t hot.

Plus, labeling a home as an as-is sale is a red flag for some buyers. They’ll assume something is wrong with the home.

Pro: Avoiding Stress

If you are in a tough situation where you can’t deal with problems that might come up in a traditional home sale, selling as-is might be the right option for you.

For example, if you are dealing with poor health or have to move right away, an as-is home sale will help you avoid further stress.

Consult a real estate agent if you have fears about what can happen during the home selling process.

Con: Potential Challenges on the Buyer’s End

A lender likely won’t loan money to a potential buyer without a home inspection. If there is significant damage to your home that can cause health or safety issues, the lender won’t sign off on it.

Because of this, a lot of people who sell their homes as-is take cash offers instead. These tend to be significantly lower than a buyer securing a mortgage.

Selling Your Home As-Is: Is It Right for You?

If you are thinking of selling your home as-is to avoid the stress of a traditional selling process, you might want to think again. To get the best offer on your house, completing repairs and home inspections is necessary.

For those who want to have their home taken off their hands as quickly as possible, selling as-is is the best option. Whatever you decide, consider the pros and cons to do what is best for you.

For more articles on the home, check out the other posts on our website today!