So you’re thinking about selling your damaged house. You know it needs some significant repairs because it has finicky plumbing, a leaky roof, a foundation problem, or water damage. But ultimately, you really don’t want to fix up the place. We get it! How do you even know if it’s worth the time, money, and effort it would take to make the repairs to the home for buyers?
To make the best decision on whether to sell your damaged house as-is, there are a few things to consider- like what listing as-is means, what the steps are to sell a house as-is in Boise, and what type of buyers will purchase a property as-is? Don’t worry, we’ve got you covered with answers.
Let’s get started!
Steps to Selling a House As Is in Boise
Honestly, to sell a house as-is in Boise, Idaho, you can pretty much follow the same steps as you would with a standard home sale- you just won’t have to worry about the redecorating and home staging part.
Sounds awesome, right? Who doesn’t like less work? Well, the downside is that you will have to show everything- flaws and all. Most buyers are looking for turn-key properties, not fixer-uppers that instantly need work as soon as they move in. However, the good news is that there are buyers looking for houses in as-is condition to purchase, which will be explained more later.
To get a handle on where to start when selling as-is in Boise, follow these steps.
List Property ‘As-Is’
Make sure to let prospective buyers know right away that you’re selling this house as-is. When you add that information to your listing, buyers should understand that what they see is what they get. You will not be making any repairs to the home before selling, and whatever work that does need to be done will be up to the new homeowners to take on. When you add this little bit of big information to your listing, don’t be surprised if your pool of potential buyers gets a lot smaller, and your home doesn’t get as much attention as you thought it would.
→ Are you thinking about listing for sale by owner? Click here to learn how!
Disclose All Information in Listing
When people hear the words “as-is,” they instantly assume something is majorly wrong with the house, and rightfully so. Even though people should understand there are issues with the house, as to why you listed it as-is, it will still be up to you to disclose what those issues are exactly. Sellers do that by providing a property disclosure report. This report shows buyers all the problems with the property ahead of time, so they don’t try to back out of the deal later.
Below are the three Idaho Disclosure Forms you’ll need to have ready for your buyer to look over:
- Seller’s Property Disclosure Statement
This disclosure statement details any known issues with your property and its major appliances and systems.
- Flood Zone Statement
Some mortgage lenders (like federally backed ones) require you to provide information regarding the property’s flood risk.
- Lead-Based Paint Disclosure
Due to federal law, if your home was built before 1978, you must disclose information about the dangers of lead-based paint to your buyer.
Fix Minor Cosmetic Issues
Another step to selling a house as-is in Boise, consider fixing minor cosmetic issues to attract buyers. Think about how overwhelming it can be for a prospective buyer if the home they’re looking at buying needs a ton of work. By shortening the to-do list, buyers may be more willing to buy and fix your home since little minor cosmetic issues have already been done.
Here are a few examples of some minor cosmetic fixes you can make in preparation for selling as-is:
- Touch up paint or paint rooms to a more neutral color
- Consider changing out old light fixtures, door handles, faucets, and cabinet pulls.
- Get your carpets replaced or at least professionally cleaned
- Reseal the driveway
- Powerwash the driveway, walkway, and house
- Repaint the front door
- Replace any dead landscaping
Of course, whatever minor cosmetic fixes you decided to do, make sure they fit into your budget. Since you are selling as-is, you are not required to make any changes to your home before listing.
To attract buyers, you will definitely need to price your damaged house correctly. You’ll be able to do this significantly better if you know what repairs need to be made and how much they cost. So to start, it may be helpful to get a home inspection done and then use that information to get quotes for the work. Of course, you don’t have to fix anything, but if you get accurate cost estimates, then you’ll be able to use that information to negotiate with buyers.
That said, you shouldn’t expect a buyer to pay full market value for your home, they’ll want to deduct repair costs, and rightfully so. You would do the same thing too if you were buying a damaged house.
If you’re not sure what you can list your house for, hire an appraiser to assess the value of your home. They can give you a better estimate of what you can list your house for, plus their opinion is unbiased and uses local comparables.
Highlight Positives/Key Features of the Property
Although you’re selling a damaged property as-is, you can still point out key features of your home. Don’t let the condition of your house overshadow the fact that the place you’re selling is in a great neighborhood, on a quiet street, in an excellent school district, or close to retail shopping. And don’t forget to highlight the positives about your home. Does it have a beautiful backyard, a fantastic patio, original hardwood floors, solid oak doors, a fireplace, an oversized garage, pool, or balcony? All of these things are great selling points to a prospective buyer and need to be mentioned.
→ Click here for more creative ways to sell a house in Boise, Idaho.
Learn About Your Buyers
We’ve covered a lot about the steps to sell a house as-is in Boise and how to list and market your place but learning about your buyers is just as important. So that goes without saying, the Idaho real estate market will have an impact on the success of your home sale. Even the time of year buyers are looking and shopping for houses matters. So the more you can learn about your prospective buyers and the Idaho real estate market, the better.
Just a few pointers, though. Usually, the best time of year to sell a house is during the spring and summer months, and the worst time of the year to sell is during the fall and winter months. However, since you’re selling a damaged property as-is, the dynamics may be a bit different.
Selling to a Cash Buyer As Is
Remember earlier when we mentioned how there are buyers out there who purchase houses in as-is condition? Those buyers are referred to as cash buyers or house flippers, who buy homes as-is, no repairs, renovations, decluttering, cleaning, or staging required. They also can make you a cash offer within 24-hours and close in as little as 7-days or longer if needed. Selling to a cash home buyer is a great way to sell your damaged house quickly and get cash in your pocket. But how can you find the best home buying companies in Boise?
There are a few cash home buyers in Boise, but one that comes highly recommended is Gem State Cash Offer. They are a small family-owned real estate business that is BBB accredited and is based in Boise. They have helped multiple families successfully sell their houses as-is and present cash offers without real estate commissions or service fees (typically seen when selling to an iBuyer). If you’d like to learn more about their process or company, feel free to contact them or visit their website.
Selling a damaged house won’t be an easy task, but being able to sell your home that needs repairs as-is will be helpful. As you’ve discovered, it will involve disclosing information about your property, pricing correctly, highlighting positives about your houses, and finding the right buyer. However, it’s nice to know that you have the option of selling to a cash home buyer like Gem State Cash Offer, who has experience buying houses as-is and can close quickly.