It’s not uncommon for homeowners to find that they cannot afford all the repairs that their home needs before they can sell it. They may have a roof that leaks, outdated plumbing, or aging floors that need to be replaced. These issues will undoubtedly reflect poorly on the home’s value, and this might be just the tip of a very deep iceberg for some people. They could be in a situation wherein they’re going to have to sell their home quickly because they are not in the best financial state or something else. Meanwhile, they are still living in the home and earnestly want to finish the repairs so they can make a sale.
Most people who set out with this mindset want to stick out the traditional model of sticking the ‘For Sale’ sign right into their front lawn. They want to sell their home according to the traditional model, and they want to make the necessary repairs even if they know that those repairs will cost them more than what they can afford right now.
What might be a really quick but sort of radical option is to leave the hassle behind and sell your home as is. There are plenty of companies out in the Las Vegas valley that buy homes as is, and this means that you no longer have to worry about what kind of financial burden your required home repairs will put you through.
Understanding the Real Estate Market in Kent
“The real estate climate in Kent has changed wildly in the last few years due to the economy, interest rates, and demographics. Homebuyers no longer need to be “handy” or have access to resources that allow them to make large improvements to homes before they can sell at asking price.
These days, homebuyers are substantially more picky about the condition in which they acquire a home. Much of this is due to a buyer’s market, in which well-maintained properties can demand multiple competitive offers. The pressure for home sellers worried about making their mortgage payments can lend to a frenzy of low-cost, high-impact renovations.
Of course, a home seller can’t always make these changes. Instead, they choose to sell “as is.” This can even be a desirable factor for those who are exceptionally handy or note that a home with good “bones” and an excellent location is on sale. These “diamond in the rough” homes can be excellent opportunities for first-time home buyers to get a start or investors to get a good find.”
The Consequences of Not Making Repairs
When homeowners choose not to make necessary repairs before selling, they often face a significant decrease in their property’s sale price. Buyers are typically looking for homes that are move-in ready – any visible issues, (like leaky faucets, cracked walls, or outdated systems.) can lead them to question the overall condition of the home. This uncertainty can translate into lower offers: potential buyers may deduct the cost of any needed repairs from their offer price.
Options for Homeowners Who Can’t Afford Repairs
When selling a house “as is,” homeowners are selling their property in the state it is in right now, without making any repairs or improvements. This sounds ideal, right? For some homeowners, absolutely. They don’t have to worry about getting their house all cleaned up and fixed for showings. It sounds a little less time-consuming and possibly not as spendy. And it can be. But there are specific things you need to think about when going this route.
- Selling “as is” could be faster and more convenient. With typical sales, the homeowner cleans up the home, finishes any projects or final repairs, lets their realtor get awesome (or bad) photos, and waits for a nice enough day to get the “For Sale” sign up in the yard. After that, they could be showing the home for months, waiting for the right parties to even look at the home. Then, they could expect further negotiations if the inspection doesn’t go perfectly or flaws are found later.
- You may be able to sell “as is” to a cash buyer. We buy houses for cash and in any condition. We’ve worked with many homes that were going into foreclosure for one reason or another. We can typically give the sellers we work with an offer on a fast close, within a few days, and help them out of the debt they may have. We’ve also helped with a whole host of other problems homeowners had; none of which had to do with the condition of their home.
How ‘We Buy Houses As Is’ Can Help
“We Buy Houses As Is” companies make the process of selling your home simple and straightforward. Unlike traditional real estate transactions which often require you to make a lot of repairs and renovations (if you can even sell the property at all), these companies will buy your house as-is. Yup—if you inherited a hoarder house from your grandma, you can actually sell it as-is without the stress, time, or finances required to clean it out and fix it up. A lot of homeowners see this as a big win.
Sell your house fast. Going this route, homeowners (like you) can get fast (cash) offers on their houses—typically in just a couple of business days from the time of their initial outreach. This can be perfect for those going through tough times (i.e. job loss, relocating, bankruptcy, medical emergency, etc.) where you could benefit from a fast solution via a large cash influx. Outside of the big win of avoiding the “fun” of a dumpster & a hammer to fix up your house, and the time & headaches associated with the BS of “traditional” real estate, you can close in a few days vs. the typical few months (or more). This could be yet another lifesaver benefit.
Sell your house without the stress of a traditional sale. At the end of the day, you won’t have to deal with the “common” stressful things most other homeowners go through when trying to sell a house. You’re not dealing with long, drawn-out steps to “close the loop.” No annoying traditional steps that can make your head spin, like scrubbing your baseboards daily, setting your dining room table for “show,” turning on every single light in your house, and leaving the house for 3-4 hours while strangers walk through and “judge” your home/presence in their lives. No more crossing your fingers hoping a buyer can actually get the financing to close the deal.