You’ve finally decided that it’s time to sell your home, but you don’t want to deal with a realtor. What if we told you that you can sell your home all by yourself? You can sell a house as-is without a realtor and fast! If this sounds like the best option for you, keep reading for our tips and advice.
1. Sell a House as-is, What Does it Mean?
You’ve decided you want to sell your home, but don’t have the money or time to repair everything on the property. If this is the case, you might decide to sell a home as-is.
To sell a house as-is means you are selling the home and property in its current condition. As-is does have a legal definition and the buyer will sign paperwork stating they understand the property comes with all its repairs and flaws.
Keep in mind some laws vary from state to state when it comes to selling a home as-is.
In some states, you will be legally obligated to answer any questions the buyer has about the property. Most states also forbid sellers from hiding defects on purpose or giving misleading information.
2. What Information Will You Have to Disclose
To make it easy, we have created a list of the things you should disclose to the potential buyer. This will make the sale go smoothly and lower the chances of legal action being taken in the present and future.
Here are some things you will have to disclose:
- Structural defects
- Cracks in foundations
- Termite damage
- Buyer must be aware of any mold
- Any leaks in the roof
- Major plumbing issues
- Major electrical issues
- Radeon levels that are above the EPA limit
- Any legal issues, such as a cloud on the title
Yes, it may seem easier to cover these issues and try to convince the buyer that they don’t exist. But, the truth will come out eventually and legal action could be taken.
Even getting a pre-listing inspection isn’t a bad idea. It will help you know what’s wrong with the house so you can be honest with potential buyers.
Save yourself the hassle and be upfront with the buyers.
3. Now it’s Time to Get Your House Ready for the Market
Since you’re selling as-is, you won’t need to make any major repairs. To sell your house fast you will want it to look presentable.
Stage Your Home
You will want to get rid of clutter and excess furniture. Try to stage each room and keep it minimal. We suggest using the furniture you already have so you don’t have to spend money.
Excess furniture can get moved to your new property or placed in a storage unit until your home sells. It’s generally recommended that a third of anything you don’t use every day should get removed when the home is on the market.
Removing memorabilia and personal photos helps the buyer to see themselves living in the home. Even most art should be removed due to the buyers not having the same taste as you.
Try to keep areas minimal and use natural colors in rooms. Neutral colors help the buyers to project any room ideas onto the space, hopefully closing the sale.
Clean the House
No one wants their potential house to be full of filth. Deep cleaning the house will help it look presentable and sell faster.
Shampoo and deep clean all carpets and rugs. Scrub the appliances and counters to make sure they are pristine.
Cabinets should be empty when you place your house on the market. Items that usually live here can be packed away and put in storage or moved to your new home.
Counters should be clear and not cluttered with items. Throw out the stuff you don’t need and pack away the items you want.
Tile floors should be scrubbed clean and look brand new. Even shelves and nooks and crannies should be dusted to make the home presentable.
Lighting is Key
When the buyer sees a home with dark spaces they will be more likely to walk away. These dark spaces make the home look smaller while hiding the home’s potential.
Use natural lighting to your advantage. Open the windows and see where the natural light hits in the rooms. If they are still a bit too dark put a lamp or mirror in the space.
A nicely lit room will show the buyer’s potential while making it an inviting space.
The Outside is Just as Important as the Inside
You’re running around trying to pack things away and clean the house for its first showing. This is a hectic process, but don’t forget to give the exterior some TLC.
The outside of the house is the first thing a buyer will see. You don’t want their first impression to be bad when they see a dirty house.
We recommend power washing the exterior to make it look like new. If a porch has chipping paint it’s not a bad idea to put a fresh coat on.
4. You Prepared Your Home for the Market, Now it’s Time to Price
Your house is clean and looks presentable for any buyer. Now it’s time to price the home.
Using the internet you can see what similar properties have gone for. You can also get a range for the highest and lowest you can sell.
When looking at prices don’t forget to research what places have sold for in your neighborhood. Location is key and could mean a higher selling price.
Remember that the goal is to sell your house fast. Don’t overprice the property, this will have it sitting for a long time.
5. Get on the Multiple Listing Service (MLS)
You have the home looking great and have decided what you want to sell for. Now it’s time to list your property.
The Multiple Listing Service is great for listing your home. It’s local to your area and potential buyers will be keeping their eye on this list. Your listing may even be posted on apps and websites to gain more attention.
The MLS costs a flat fee to post. This fee is specific to your area.
6. Marketing is Important
Being listed on MLS is half the battle. The MLS will take care of online marketing and promotion, but this doesn’t mean you shouldn’t be doing it too.
Place for-sale signs outside of your house. Maybe a buyer that isn’t looking at the MLS will come by.
There is a for sale by owner websites you can create a listing on. This will help market your property to buyers only looking to buy from owners. This website will also help you create flyers and brochures.
7. Hold an Open House
Since you’re the agent, you will need to hold your own open houses. Advertise online and in-person with flyers. Usually, weekends are best for open houses.
On the day of, make sure to be a perfect host. Set out some drinks and snacks in the kitchen for potential buyers. Make them feel like home in their new house!
While walking the buyers through the home, make sure to know its selling points. This can include location, lot size, age, style, etc. If you’re having trouble finding good selling points, take a look at some listings to get your mind brainstorming.
While showing the house it’s a great time to be honest with the buyers. As we said before, being upfront about the property’s flaws will help you avoid legal action in the future.
8. Compromising and Closing
You have been honest with the buyers and have told them the reasons they should buy. They may have taken a bit to think about it, but they have decided to put an offer on the house.
Since you’re selling as-is the buyers may offer you something lower than what you asked for. If this is the case you can open a dialogue and begin a negotiation.
After settling on a price you will be ready to close! Go get the legal paperwork needed drafted by a lawyer and say goodbye to your old home.
You are Now a House Selling Expert
We have discussed the entire process of how to sell a house as-is. You know tips for staging the home and that being upfront with the buyers is the best option in the long run.
For more information on selling your home, check out our website here.