Sellers who need to make maximum profit from the sale of their Florida property for the purpose of either buying a bigger home or applying funds toward their retirement will be more willing to embark on renovations. But what if a seller gets a job transfer out of state that begins within weeks, leaving no time to renovate? Or, what if you’re in a difficult financial situation and need to be out from under a mortgage. What if you inherited a home that is far away from where you live or that you don’t have the money to fix up before selling. The homeowner could borrow money, spend time, and even resources to renovate a home only to have it sit on the market.
But in place of doing updates or renovations, you can decide to reduce the price of your home in lieu of fixing it up just to get it sold. This method—referred to as selling “as is”—creates different options and challenges for both buyer and seller. Here are some choices when selling your property as is.
The seller and their real estate agent can offer an agreed-upon lower price in exchange for the disfigured floors, countertops, and anything else that is not a must-fix under the home inspection regulations. That tends to make a buyer look at it more closely and consider purchasing with an eye to fixing it up themselves.
The next option is to sell your house “as is” to an investor.
You may have heard of those companies promising to buy your house for cash instantly. In the past, these companies may have offered low-ball amounts, but since the “fixer-upper” investment market has heated up, direct-buy investors may offer you a reasonable price for your home to compete with the fixer-uppers. This is likely true if your home is in an area with a tight rental market since these buy-and-hold investors can easily lease the house once it is fixed up.
A new type of investors—called iBuyers— have entered the picture providing different terms and pricing for properties in varying conditions. They use sophisticated technology to determine what they will offer on a given property in a given location.
Flip-and-fixers buy your home in “as is” condition to make profit
Some people will buy your house to turn it around and sell it for a profit; they are called flip-and-fixers. These buyers weigh the potential income from selling against the cost of fixing up an “as-is” home purchase. All the risk is on their end since you do not have to repair anything before the sale since they fix any issues with your property before selling it to make their profit.
If you decide to sell your house “as is” for cash, compare offers among the many investor types in your market who would be willing to explore the opportunity to buy your property. Seek out our team which is experienced in getting the best offer in the investment market.