There are many reasons why a homeowner may want to list their home for sale in ‘As-Is’ condition. This may be a property that was inherited and family members do not have time to fix it up. Or it could be that someone is moving out of state and do not have time to do any renovations. Or there could just be no money available to put into the property. Before listing ‘As-Is’ on your Tampa real estate, there are a few things to consider.
1. Limiting the Buyer Pool
Listing your Tampa home ‘As-Is’ could eliminate possible FHA and VA loan buyers. Some conventional loans will also want inspections to be done and for the property to qualify for lending. When there are a lot of repairs that need to be done, or if the home just needs to be brought up to a habitable level, you prospective buyers will mainly be cash buyers and real estate investors who are looking for the lowest possible price.
The real estate investor will likely fix up the property and then sell it for around 33% more, so ask yourself if it is better for you to get the extra money on the sale or if it is just not worth it.
2.Discounted Sales Price
When a home is not turn-key move in, it means that the price will need to be discounted compared to the other homes that have sold in the area. Buyers that can not move in right away or that have significant work to do upon move in will want a discount for the inconvenience and cost of repairs.
When you market as-is Tampa real estate, there are a few things that can help you maximize your sale.
We understand that certain home repairs may be financially out of the question for some sellers and they simply must sell the home in its current condition. Declutter. Make the home look as nice as possible. Remove all clutter and make sure that everything is detail cleaned to give the home its best appearance possible. You should also get a home inspection and then disclose the necessary repairs to the buyers. This will give an actual idea of what it will actually take to improve the home and the buyer and you can make informed decisions on the actual value of your as-is Tampa real estate listing.