You’re getting ready to sell your house and know you have a lot of repairs to do. Repairs can be overwhelming, especially if you’re dealing with health issues, or extra money isn’t available to do renovations. This could be the reason why you want to sell your house in the first place.
Unfortunately, when selling a house traditionally, most buyers want an up to date, turn-key home to move into. Even buyers using financing to purchase your house usually have to show the bank that the property is in good condition by getting a home inspection done before closing. And a home inspection may reveal other issues you didn’t even know about.
In this type of situation, it’s probably a good idea to sell the house as is. Let’s take a look at how to sell a house as is and who buys houses that need repairs in Idaho.
Selling Your Idaho House As Is
What Does it Mean to Sell As Is?
Firstly, what does it mean to sell as is? To sell, you’re property in as is condition means selling to someone willing to purchase your home in its current condition. Whatever repairs, renovations, updates your home needs will be taken on by the new homeowner. When you sell a house as is, it usually doesn’t mean you are exempt from disclosing the property’s true condition. You will still need to let the seller know all the known issues going on with the property.
Idaho law requires that sellers submit a property disclosure before the closing date. The Seller Property Disclosure Form will guide you through what is required to disclose to the buyer. There are several categories of issues the seller is supposed to reveal to the buyer, but the seller doesn’t need to disclose any information about the structural components of the house, roofing, or any other issues that would require some level of expertise to discover.
Though the buyer knows they are purchasing the home in as is condition, they will want to have a better understanding of what is wrong with the property. That way, they know what repairs will be required.
Will Someone Buy My House As Is?
Absolutely! People buy homes as is all the time. There are buyers out there that enjoy doing home repairs and renovations. Sometimes they buy the property as is to be able to live in a neighborhood that’s out of their budget. Some enjoy housing projects and putting their own touches on their new home. Others buy them as is to fix them up and then resell them. But there definitely is a market for houses being sold as is. So there is no need to ask yourself, “will someone buy my house as is?” because they definitely will.
Ways to Sell A House As Is
There are really two ways to sell a house as is:
- Include as is in your listing
- Find an as is buyer
Let’s take a look at these a little bit more.
Include As Is in Your Listing
Including the words as is in your listing will make it clear to prospective buyers that you aren’t going to be spending any time on repairs. So what the buyer sees is what the buyer gets. Don’t be surprised, though, that a buyer may still request an inspection, but your agent or yourself can set the expectation that no major repairs will be made before selling. Of course, when selling a house as is, you will likely have to accept a lower offer price than you would if you had finished some updates and repairs before listing. And if you do end up going this route, using an agent to sell your house, make sure to account for their realtor commissions in your final sale price. Typically those cost 5-6% of your finale sales price.
Find An As Is Buyer
Yes, there are as is buyers out there. The buyers are known as home buyers, cash investors, real estate investors, etc. They are in the business of buying houses in as is condition. And they can easily do that because they typically don’t use bank financing. A lot of investors out there use cash to purchase houses. This is helpful because most banks want to know the condition the house is in before lending anyone money to buy it. Instead, they can buy homes quickly and not have to wait for bank approval.
These types of buyers also have teams in place to handle repairs and renovations. So doing some major fixes to the home doesn’t usually bother them.
And this type of selling process doesn’t require hiring a real estate agent, so there are no commissions involved when selling to an as is buyer.
So you may be saying, “ this sounds wonderful, but how do I find an as is buyer?” To better answer that, let’s look at some of the best companies that buy houses as is in Idaho.
Who are the Best Companies That Buy Houses As Is?
While searching for the best companies that buy houses as is, you will probably find all kinds of business offering to buy your house. But what is the difference between all of them? Let’s take a closer look at the most popular companies in Idaho that buy homes as is:
Local Homebuyer– usually a single investor or small group of investors that live in the community. An example of a local home buyer is Gem State Cash Offer.
Investor Networks– these are usually franchises that buy houses in multiple states.
iBuyers– typically are large companies that purchase homes all over the US and use an automated valuation model.
Here are a few ways you can figure out the best home buying company to work with:
- Look at their website- do they have a legit website? Does it have real people buying your house?
- Find out what they can offer- do they pay in cash? Buy as is? Charge no real estate commissions? Help pay closing costs?
- Check out their reviews online- what do other people say about that business? Do they have positive reviews?
- Are they a part of the Better Business Bureau? If they are BBB accredited, see what their rating is and how long they’ve been in business.
- Set up a time to talk to them- Do you feel comfortable working with them?
- Are they willing to work with you, answer any questions, and put everything in writing?
If you can answer yes to all of those questions, then you have determined who the best as is home buyer is in Idaho. The next thing you’ll need to do is sell as is.
Steps to Sell As-Is
Selling as is, is pretty simple, especially if you’re working with a local home buying company like Gem State Cash Offer. The Gem State Cash Offer process to sell as is looks something like this:
Step 1: Call or request an offer online.
Step 2: Meet with us at your home or send us pictures.
Step 3: Receive a fair cash offer.
Step 4: Accept the offer and choose your closing date.
Step 5: Move on your schedule, leaving your house as is; no cleaning necessary.
Selling a house as is has never been easier. It really is a great solution for people that don’t have the time or money to invest in a house; they will just turn around and sell. Renovations are expensive, and if you need to sell your home quickly, you may not have time to do repairs to your home. And even if you do go to all that trouble, there is no guarantee your house will sell quickly.
The best solution for you is to sell your home to an as is buyer that can close quickly and pay in cash.
If you’re trying to find a local home buyer in Idaho, give Gem State Cash Offer a call.
Reach out to them to get a fair cash offer and to sell a house as is today!