In order to get a home sold, there’s a lot to be done. You need to make sure the appliances are in order, the paint and carpets look fresh, that creak in the front door is taken care of, have a home inspector right up a report, and more.
Or, you could toss a For Sale on that property, and sell the home “as-is.” So what does it mean to sell your home as-is, and what does that mean if you’re browsing homes for yourself and you see a home for sell “as-is?” Let’s look into this term to find out what it means to you, and why homes are sold as is.
So, What Does it Mean to Sell Your Home “As-Is?”
The term is not a technical or official real estate term but is a colloquial term that means a home is being sold in the exact condition it is currently in. This means the seller will not fix the driveway, replace the oven, or paint the house in order to execute the sale, what you see is what you get. As-is also means that seller or owner will not put anything forward for the home’s warranty, what you take is what you get and it’s your job to make any changes.
Why Do Home Owners Sell As-Is
There are several different reasons that someone would sell their home as is. They could be facing foreclosure and need to get the house out of their hands quickly, the home could be part of an estate sale, or it might be an inherited property that the owner doesn’t feel like fixing up.
Selling a home as-is has advantages to both the seller and the buyer. The seller can get an unwanted property off their hands quickly, and a buyer gets a much lower price for the home than if the home were to be fixed up. This makes as-is properties popular as investment properties or for fix-and-flippers.
If you have a property that you need to get off your hands quickly you might consider selling it as-is. Before listing a property as-is, sit down with a reputable realtor or home buyer company. You can discuss the pros and cons of selling as is and figure out if it is the best situation for your Colorado real estate property.