Homeowners planning to sell their house are often worried about the costs involved in making their house conducive to a sale. Of course, a lot depends on the property’s current condition, but real estate prices in your neighborhood can be a decisive factor as well. Sometimes, it makes sense to spend on renovations and sometimes selling As Is, is an ideal choice. Here are three situations where it’s wise to sell the house as is:
You are selling an old house:
You may have spent hundreds of dollars trying to renovate the master bath, or on exterior remodeling, but the problem with old homes is that these aren’t enough. Leakage, mold, dated interiors, foundation issues, problems with the roof, etc. are real issues that can set you back by a few thousand dollars. Even after spending money to fix these issues, you cannot be assured of top dollars because potential buyers will still want the house in peak condition.
Local real estate market conditions:
Several factors affect real estate prices; one of these is the location of the property. The quality of local schools in your neighborhood, proximity to employment opportunities, shopping malls, and other recreational centers, is a determining factor for prospective buyers. In addition to this comparable homes sold in the neighboring area also affects the seller’s home market value. The recent sale price of similar homes is considered a benchmark against your potential price. If homes in your neighborhood are selling for a good price, it is alright to spend on renovation, but if you are unlikely to expect a decent return on investment, selling the house as is, makes sense.
Distress sale:
If you have been issued a foreclosure notice, or if flood/fire damaged the house, spending money on repairs is a wasted effort. A traditional sale could drag on for weeks or even months. Selling your house as is, can help you save on repairs and ensure that you get the money quickly.
Call us if you are planning to sell your house as is. We buy homes in Las Vegas for cash and we promise to close in less than 14 days.
