Selling a piece of property can be a long and difficult process. Some are willing to go through all of that so they can profit off of their property and get as much value from the sale as possible. But for others, it’s normal to want to just get things over with as quick and easy as possible.
For those who want to sell my house fast in Cleveland, Ohio, money isn’t usually the main objective. While they certainly don’t want to lose money on the property, there are most likely other factors in play like an upcoming move with a fixed date, bankruptcy, or foreclosure. If this sounds like you, then the good news is you can sell your Cleveland property ‘as is’, which results in a quicker transaction with just a couple of downsides. Let’s discuss what it truly means to sell your Cleveland property as is.
What does it mean to sell your property ‘as is’?
When selling a home or property ‘as is’, it simply means that you’re selling the property in its current condition and won’t be repairing or improving it, nor covering the cost for any repairs that the buyer may want.
The last part is crucial as it’s common for homebuyers to negotiate based on repairs that the property needs. For example, if it might cost them $4,000 to fix a worn-out roof, they may ask to lower the final sale price to cover that cost once the property is theirs.
When you sell your Cleveland property ‘as is’, it tells a buyer that “what you see is what you get” so the property is also priced and marketed to sell quickly.
Pros and cons for selling as is
Being able to sell your house fast in Cleveland is the main benefit of selling property as is. You won’t have to wait for a contractor to finish repairs on the home, and because it’s priced lower you’re bound to attract more cash offers than normal. Cash offers mean that the closing process will be much quicker as there’s no need to wait for the approval of a lender.
You also stand to save some money. In some cases, doing all the needed repairs will cost more than the value it will add to the final sale price. In this case, you end up saving yourself some money and passing on that headache to the buyer, who is usually more interested in dealing with it than you are.
The cons here, however, are that you won’t be able to get as much money from the sale as you could if you did some repairs. Even if repairs cost a lot, you could still strike a balance by choosing strategic repairs that can boost value without costing too much.
You may also attract less offers if the cost of repairs is too high, scaring away potential buyers. Because of this, they may try to talk you down on the price to make up for the cost. So once again, you might be making less money from the transaction.
How do I sell my Cleveland property as is?
Selling your property in its current condition is easy and doesn’t change much from the normal selling process. The main differences here is that it will have to be priced lower and you will have to make it explicitly clear in the contract that you’re selling the property as is. You’ll also need to disclose all the information you know about needed repairs and the condition of the home. Even if you’re selling it as is, that doesn’t absolve you from certain issues that a buyer may discover after buying the property.
If your goal is to sell my house fast in Cleveland, Ohio with the best chances for success, then you should sell to a professional cash homebuyer like RC Home Buyers. We buy houses in Cleveland in any condition! Whether your property is in bad shape, you’re facing bankruptcy or foreclosure, or if you just want to get the sale done quickly, RC Home Buyers has your back. In just a couple easy steps, you can see how much you can get for your property when we send you a cash offer in just a few days. Contact us today and learn how we can help you sell your Cleveland house fast!