How to sell your Oklahoma City house without making repairs or updates
What does it mean to sell a house “as is?”
Selling a house "as is" refers to listing a house, often a fixer-upper, on the market without making any repairs, renovations, or staging efforts. It allows a seller to present and sell their home in its current condition.
What does selling a house “as is” not mean?
It's essential to clarify that selling a house "as is" does not provide a license to misrepresent the property's condition or conceal defects. Sellers are still obligated to disclose any known material defects that could affect the property's market value or pose safety risks.
According to Houzeo, “In Oklahoma, the Residential Property Condition Disclosure Act requires sellers to provide disclaimers or disclosures to prospective buyers. Sellers selling their property ‘as is’ must make a disclaimer in the Disclaimer Statement whereas sellers must make disclosures about any material defects in the Residential Property Condition Disclosure Statement. The sellers must fill the form in good faith and to their best knowledge.”
What are the pros of selling a house “as is”?
-
Fast sale and smooth closing: Selling a house "as is" often leads to quicker transactions, as it attracts buyers looking for investment opportunities or those willing to take on renovation projects. Selling a house “as is” to a reputable off-market home buyer can mean a streamlined process and faster closing timelines.
-
Fewer upfront costs: Avoiding repairs and staging is a significant advantage. You save on upfront costs by not investing in expensive repairs or preparing the house for showings.
-
Simplified negotiations: Selling a house "as is" can simplify negotiations, as buyers understand the property's condition upfront. This transparency often leads to more straightforward discussions and fewer back-and-forths during the negotiation phase.
The cons of selling a house “as is” in Oklahoma City
-
Lower sale price: Acknowledging the property's need for repairs might lead to lower offers. Buyers factor in potential renovation costs, reducing the sale price compared to a fully renovated property.
-
Fewer interested buyers: Some buyers prefer move-in ready homes, limiting the pool of interested parties for an "as is" property. Additionally, buyers relying on mortgage loans might face hurdles if the property's condition doesn’t meet loan requirements.
What are Minimum Property Requirements when selling a home “as is”?
Minimum Property Requirements (MPRs), set by relevant authorities like the Department of Housing and Urban Development (HUD), outline the basic safety, security, and structural soundness criteria. While not mandatory for all sales, it's important to consider these criteria if the buyer aims to secure a loan for the purchase.
Can you sell a house “as is” without an inspection?
In Oklahoma City, buyers can opt for inspections even in an "as is" sale. Sellers are obligated to disclose material defects affecting the property's value or safety because Oklahoma is not a caveat emptor (buyer beware) state. According to Houzeo, “Just because you are selling real estate ‘as is,’ buyers are not prevented from inspecting the property. However, you won’t be liable for any damages or defects found on the property during the inspection.”
How to sell your house “as is” in Oklahoma City
There are several options:
-
Sell through a real estate agent: Opt for agents experienced in "as is" sales.
-
For sale by owner (FSBO): Use a "flat-fee MLS" service for self-listing.
-
Sell to a real estate investor: Explore options like off-market home buyers.
Reasons to sell your house “as is” to an off-market home buyer
People opt to sell "as is" for various reasons:
-
Convenient sale of an inherited house
-
Selling a rental property
-
Relocation
Consider We Buy Ugly Houses® when you want to sell your house fast.
Selling your house in Oklahoma City doesn’t have to be difficult. In fact, it can be easy to sell your house “as is” if you sell to We Buy Ugly Houses®. We have a streamlined and stress-free process that we’ve perfected in the decades we’ve been in business throughout the US, which allows for a fast closing and no hassles. Our seller-focused method has given us a 95%* customer satisfaction rating nationwide and fantastic reviews.
How to sell your house “as is” to We Buy Ugly Houses® in Oklahoma City
Contact us today for a consultation and take the first step toward a swift and stress-free sale of your property. When you reach out to us, we’ll set up a free, no-obligation consultation at your house. While there, our friendly, local Oklahoma City property specialist will take a tour of your property and answer your questions. We can sometimes give sellers an offer the same day. If you accept our offer, we can sometimes close in as little as 3 weeks. We charge no commissions, have no hidden fees, and pay typical closing costs. Our offers are below market value in exchange for speed and convenience.
Selling your house "as is" in Oklahoma City requires careful consideration of the housing market, your property's condition, and your selling priorities. By exploring your options and understanding the implications, you can make an informed decision that best suits your needs and goals. If you're ready to explore selling your house "as is," We Buy Ugly Houses is here to assist you every step of the way.
This blog is for informational purposes only and should not be considered legal advice.
