Inflation and high-interest rates have almost caused a stalemate in cities nationwide that were once hot seller’s markets. But Tampa, Florida, still is a hot seller’s market. The low supply and high demand for homes in this area could explain why the Fed’s measures to quell the hot seller’s market nationwide still haven’t slowed this strong seller’s market. So, if you don’t have a huge budget to fix and stage your home, you may be able to sell your house fast in Tampa as-is and still get a great deal in this market. Here are a few ways to prepare to sell your home as-is.
What Does As-Is Mean?
When some home buyers hear the word as-is, they may cringe, thinking they are guaranteed a house that will collapse as soon as they buy it. This hesitancy from potential buyers may make sellers afraid to put their homes on the market as-is. However, you don’t have to think about the worst homes listed as-is. This just means that your house is going on the market in the current condition that it’s in. The buyer accepts it in this condition and understands that you are not responsible for repairs or updates.
If you’re a home seller that has kept your home in good condition over the years, you don’t have to be afraid to list your home in this way. Besides, with so much demand for housing in the local market, this may not be a turn-off for many buyers who desperately need a place to stay. After all, your as-is home may be a treasure to a buyer who likes your home, especially if they want to fix it up themselves.
Price Your Home Competitively
Just because you are selling your house as-is doesn’t mean you shouldn’t price it competitively. After all, your as-is house may be much more desirable than some other homes on the market that have been staged. So, don’t let the words as-is cause you to devalue the price of your home. Instead, if it has good bones, price it at the going rate of other homes on the market.
You may have to research online to discover the worth of your home. Start by choosing a home value estimator online, such as the one provided by HomeLight. Tools like these allow you to get a general idea of what your home may be worth so that you can price it to sell.
Ensure the Listing Explains the Condition
When you place your house in a listing, make sure that you share that you’re selling your home as-is. This will minimize buyers wasting their time trying to get you to fix appliances or make cosmetic changes to the house before purchasing. But when you put your home on the market in as-is condition, you can keep buyers from assuming the worst by adding information that makes them feel assured that the house isn’t in bad condition.
For instance, if you don’t have brand new appliances, but they are relatively new, you may want to say “gently used” appliances. Making statements like this aren’t embellishments. Instead, they are ways to pique the buyers’ interest while continuing to be transparent to avoid legal issues.
Another way to attract a buyer using an as-is listing is to play up the great attributes surrounding the home. For instance, your house may not be the most beautiful on the block, but it is close to a popular beach or in a great school district. Emphasizing such things can increase interest in your home, especially if it isn’t in pristine, move-in condition.
Prepare Disclosures on What is Wrong
Even though you are selling your house as-is and may use creative language for marketing your home, this doesn’t mean you have the right to keep important information away from buyers. For example, if you know that there is a termite issue present, you want to fully disclose such information because the damage from this may change the buyer’s perception. Likewise, if there is a mold issue, you want to make sure you disclose this information. You must reveal important details like this to avoid legal problems in the future.
Selling the house as-is doesn’t mean you have the right to be less transparent. Instead, you want to be as transparent as possible so you don’t waste buyers’ time and effort. In addition, making these details known will help you attract the right buyer who doesn’t mind taking on such problems, such as a house flipper who’d be willing to compromise on such issues because they are buying the house to flip it anyway. The way to make such issues known is by filling out the Florida Realtors’ Sellers Property Disclosure-Residential form.
Make Minor Repairs
You may wonder, “If I’m selling my house as-is, should I make repairs?” The answer is yes. It would behoove you to clean your home and make simple repairs. No, you don’t have to go all out and make your home eco-friendly or upgrade it to a smart home to attract buyers. But it would help to put some cover plates over the electrical sockets or new hardware on the kitchen and bathroom cabinets. These are inexpensive fixes that will make a difference.
Strategically Photograph Your Home
Once you have made minor repairs, sharing professional photos of your home on your social media accounts, website, online marketplace, or wherever you intend to market it is a good idea. Hiring a professional photographer specializing in real estate photos will help you capture pictures that display your home in the most flattering way, even if you haven’t spruced it up much.
A professional photographer will know which areas of the house make the most sense to capture in a photo for you to encourage buyer interest. They’ll also avoid those unflattering parts of the home that may automatically turn buyers off upon sight.
If you don’t have money for a photographer, try to capture some of the best features of your house. For instance, if you have a spacious garage with great storage, show this in photos. Also, if you have a beautiful kitchen with high-end countertops and a center island, take pictures of this.
Avoid taking photos of the room that needs a new coat of paint. Also, avoid taking pictures of the flooring if it needs replacing. Instead, let buyers see such things in-person and determine if these are things they want to update once they purchase.
Sell It To A Company Buying Homes For Cash
Another option for selling your house as-is is to sell it directly to a company that buys homes or a property investor for cash. Such companies and individuals will send a property agent or evaluator to your home to determine its value and give you a cash offer. Then, they will provide you with your cash within a few weeks. This is a great option if you want to avoid doing any marketing to potential buyers and want to cash out on the property as quickly as possible.
