The standard way of selling a house is known to most people. It is a straight forward process that involves dealing with a real estate agent, prepping a home and finding a prospective buyer to view the home. The other way of selling a home is the one whereby the seller does not require doing any repairs. Also, the seller does not directly deal with a buyer who intends to live in the home. This is referred to as sell your house as is. The downside of this option is that the seller will end up selling the house at a lower price than similar houses in the area that are being sold the traditional way. This is mainly because they do not cater for any repairs in the home and sometimes they might be selling a home that is in a bad state and dire need of repairs. However, despite the low returns from this type of sale, it is quite popular in the real estate circles.
Here are the three major reasons people prefer going this route;
Lack of time or money
In most cases, people who sell the house as is are those who may have inherited property are those who have the property that they do not need, and they want to get rid of it without spending any money or time fixing things up. The home is usually not ready for someone to live in, but it will not require a lot of money to fix.
Investment properties
Sometimes small home sellers may put their house up for sell as is when they do not want to invest in it themselves. They put it on the market so that they can attract the attention of home flippers, home renovators or home sellers who want a property to invest in. The seller knows that the house has some value, but they may have many reasons for not wanting to fix and sell it themselves and prefer to sell it as is instead.
Foreclosure
This is usually a very common reason for selling the house as is because it gives homeowners a way out of their problem. Foreclosures are very devastating, and they can affect anyone who is servicing a mortgage. Selling a home due to foreclosure comes with various benefits for homeowners such as helping them recover any fraction of the home value that they possibly can manage to salvage. It will also help them stop the foreclosure and save their credit report from getting tainted. When faced with a foreclosure, homeowners know that time is of the essence, and so they must sell their home fast as is.
In conclusion, homeowners may sell their house as is because they could be hard up on cash to fix the house, they may be facing foreclosure, or the homes could just exist for the purpose of investment properties or fix and flips.