So you’re finally getting ready to sell your house and move onto something new. You’re packing up, finding a new destination, and starting a brand-new life. One problem, though. Selling a house is a total pain.
Luckily, you have options. You can sell your home the old-fashioned way or you can sell it as-is for cash. Both of them are good options, but how do you know which one is right for you?
Let’s talk about it! We’re here to talk about the pros and cons of selling your house as-is versus going about things the traditional way. Read on so you can make an informed decision.
Benefits of Selling Your House As-Is
Let’s break this down into the pros and cons of selling a house as-is. It’s not always straightforward, so the pros and cons won’t apply to every situation.
It always varies by situation and location. Even in a single state, it can vary wildly. In Arizona, there’s a big difference between selling to Phoenix cash home buyers and Scottsdale cash home buyers as far as how useful or beneficial it will be. Take our advice with a grain of salt and make sure you apply it to your own situation.
Here are the benefits of selling your house as-is in the right situations.
A Quicker Sale
It’s no secret that selling a house can be time-consuming. Even before you ever put your house on the market, you have to put a lot of time and effort into preparing it. Once the house is on the market, it could take ages to actually sell.
Even when you find a great buyer, the process isn’t over. It’s rare for a sale to go smoothly right away. You’d have to be quite lucky.
When you sell your house for cash as-is, you don’t have to worry about any of that.
So why would you want to sell fast? Well, what if you already have another home you’re ready to move into? You’re wasting time and money by staying in your current home.
Maybe you’re moving for a job or a family emergency. You need to offload your house quickly so you have the time and money to make your move. You can’t afford to stick around and hope that someone falls in love with your house.
Sell it to a company to make it quick and easy.
Easy in a Tough Market
Speaking of easy, selling a house isn’t easy if you’re not in a good market. Sure, there are still some housing markets where homes are selling like hotcakes, often before they even officially hit the listing websites, but this isn’t true everywhere.
In a tough market, you could be sitting in your home for months. You may have to deal with obnoxious negotiations with buyers who aren’t truly committed because they have so many other great options.
You don’t have to deal with that. Sell your home as-is for cash instead.
No Annoying Fees
It’s true that selling a home the old-fashioned way can be more profitable (more on that later), but you have fewer pesky fees to think about when you sell a home as-is for cash. That can make a huge difference.
You don’t have to pay a realtor, you don’t have to pay for inspections, and you don’t have to pay a ton of money for repairs. You also don’t have to worry about pesky closing costs. The lack of fees may mean that you’ll make more money from the sale than you think.
No Need to Stage or Repair the Home
When you’re selling a home the old-fashioned way, you need to make it look its best before potential buyers see it. This means that you have to stage it and make it look pretty and you have to make repairs before officially listing it if they’re important.
An unrepaired home with poor staging is far harder to sell.
But what if you don’t have the time or money to do those things and you just want to get it all out of the way? Sell your home as-is to a company. They don’t care how well you staged your home. They’ll buy it either way.
Downsides of Selling Your House As-Is
So why wouldn’t you want to sell your house as-is? The benefits are pretty tempting, right?
It’s true that for many people, selling a house as-is simply makes more sense, but this may not apply to you and your situation. Here are a few downsides that you should consider before making your final decision.
Potentially Less Money
It’s true that if you sell your house the old-fashioned way, you’re likely to make more money from the sale as long as your home is already in reasonable condition. Yes, there are annoying fees associated with selling a home the traditional way, but even with those fees, you’ll usually come out on top.
The real exception here is if your home needs significant repairs (and depending on how significant they are, a company may not be interested in it anyway). Otherwise, if you have time, it’s more profitable to sell your home normally.
Not As Effective in a Good Market
If you’re in a tight housing market, it makes far more sense for you to sell the old-fashioned way. Think about supply and demand. If there aren’t many available homes, you can sell yours in minutes for a good amount of money as long as it’s decent.
In this case, it would make no sense for you to sell it as-is. You’ll have no problem selling to a traditional buyer.
So, Will You Sell Your House As-Is?
Is selling as-is right for you, or would you prefer to sell your home the old-fashioned way? There’s no right or wrong answer. For some people, selling their home to a company makes more sense. For others, selling the old-fashioned way is the obvious choice.
Figure out your priorities so you can make the right choice for your situation. Good luck!