A recent study by the National Association of Realtors (NAR) found that 61% of sellers made at least some minor repairs before selling their homes. However, life can be unpredictable, making it challenging for some to tackle these repairs. This might explain why 39% of sellers opted to sell their homes as-is instead.

If you're feeling overwhelmed by the lack of time, money, or resources for repairs or updates, you might be thinking about selling your house as-is. Before you make that decision, here are a few important things to consider.

What Does Selling As-Is Really Mean?

Selling as-is means you won’t be making any repairs before the sale, nor will you negotiate any fixes after a buyer's inspection. This approach tells potential buyers that the property is being sold exactly as it is.

If you're looking to sell but are feeling pressured by budget or time constraints, it can be a relief since you'll have fewer things to stress about. However, it's important to recognize that there are some trade-offs you'll need to accept. This visual outlines some of the advantages and disadvantages.

Typically, homes that have been updated sell for a higher price because buyers are willing to pay more for a place that's ready to move into. If you sell your house as it is now, you might find it gets less attention from buyers. This lack of interest can lead to fewer offers, a longer selling process, and ultimately, a lower price. In short, while selling your home in its current condition might seem easier, you could end up with less money than if you had invested in some repairs and upgrades.

Just because your house might need some work doesn’t mean it won’t sell. It just means it probably won’t sell for as high a price as it would if it were in perfect shape.

Here’s some good news: a recent survey reveals that around 56% of buyers are open to purchasing a home that needs some repairs. This willingness stems from ongoing affordability challenges. While there are more homes available now, the inventory is still below the usual levels. As a result, you might notice that more buyers are considering taking on renovation projects themselves.

How an Agent Can Help

How can you be certain that you’re making the right choice for your move? The secret lies in collaborating with a professional.

A good agent will assist you in considering your options by providing information on what similar homes in your area have sold for, noting any updates your neighbors are making, and helping you establish a fair price, regardless of your decision. This information allows you to anticipate your home's potential selling price, which can play a significant role in your final choice.

After you choose the selling approach and set the asking price, your agent will promote your house to highlight its attractiveness. If you opt to sell it as-is, they’ll emphasize the best aspects such as its location, size, and other features. This way, buyers can easily recognize its potential beyond just the projects.

Bottom Line

Selling a home without making any repairs is certainly doable in today’s market, but there are some trade-offs to keep in mind. It’s important to think through all your options to ensure you make the best choice. Let’s talk about it.