Join me in this month's newsletter as I delve into the art of selling a home as-is. Explore the enchanting charm of the Alameda neighborhood, and take advantage of special offers from Flow Roofing.
As always, don't hesitate to reach out to me about all things real estate,
Learn all about Portland neighborhoods and find the perfect one to call home.
This Month's Feature
How to Get the Most Out of Selling a House As-Is
When preparing tosell your home, it can feel overwhelming to think about getting the property into pristine, show-ready shape — especially if you’ve been putting off a laundry list of repairs. Instead of investing more money before you list it, you can consider another option: selling the house as-is.
What Does it Mean to Sell a House As-Is?
Selling a house as-is means that a buyer will get the property in its exact, current condition without any additional repairs or upgrades.
Most real estate transactions involve some back-and-forth bargaining — a buyer might request a $2,000 credit if ahome inspector identifies a serious plumbing issue, for example — but a property with the "as-is" distinction means that the seller isn’t going to address any changes to the home’s condition. What you see is what you get, in other words.
Broadly speaking, properties listed as-is tend to be priced lower, since the buyer will likely have to spend additional funds on renovations and improvements once they have the keys to the house.
Why Would Someone Sell their House As-Is?
There are two main reasons to sell a house as-is: to save time and to save money. Let’s say you need to relocate for workand unload your old home as quickly as possible.Hiring acontractorto complete a project is going to seriously delay your listing. If there’s enough demand out there from buyers and you know you’ll get offers, selling it as-is can help speed up the process. You might not have the cash to pay for a project, either. There are already plenty ofcosts that add up when selling a house, and a home in disrepair can raise those expenses further. For example, if the roof is in desperate need of replacing, you may need to shell out around $8,995 — not to mention more money to address leak damage to rooms underneath the roof. Selling a house as-is allows you to skip those expenses.
Or sometimes selling as-is seems just the most practical course. Say you inherited your parents’ place. It’squite dated, and you figure any buyer is going to drastically remodel it anyway, if not tear it down completely andstart anew. And since you have no costs to recoup — anything you get for the house is gravy — there’s no sense in investing a lot to fix it up. Just take the money and run.
How Much Do You Lose Selling a House As Is?
It’s hard to set a specific percentage on the amount you could lose on an as-is sale. According to the resource platform iBuyer.com, home offers may be from 75% to 95% of what they would be had repairs or renovations been made.
However, much depends on the condition of the residence. And how hot the local real estate market is. In a strongseller’s market, the offer price gap typically found between an as-is sale and a regular sale dwindles — or disappears completely; buyers can’t be choosers. Location counts for a lot too. If a home is on a prime piece of property or in a highly desirable neighborhood — especially one that doesn’t see openings often — its condition matters less. People will want it for the land, and will be willing to pay for the overall real estate package.
Discover the allure of Alameda, a captivating neighborhood in Portland, OR. This hidden gem boasts a thriving entertainment scene, from local theaters hosting vibrant performances to lively music venues that keep the nights buzzing. Shopaholics will delight in the diverse array of boutiques and trendy stores, offering everything from artisanal crafts to high-end fashion. Food enthusiasts can relish the culinary journey with an abundance of restaurants serving diverse cuisines. The streets are adorned with enchanting Craftsman and Colonial-style homes, adding to the area's picturesque charm. Whether you seek excitement or tranquility, Alameda is a place where dreams take root and community thrives.
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Thank you for joining me this month to learn more about the Portland Metro housing market and the dynamic world of real estate.
Whether you're looking to buy your dream home or sell your current property, my expertise and passion help make me the perfect partner for your journey. Reach out to me today, and let's get started!
Shannon Finley
REALTOR® Licensed Broker | Paris Group Realty, LLC
