What to know before selling a house “as is” in Seattle
Tips to sell a house "as is" in the Seattle area
Selling a house can be complicated—and when your house needs some work, it becomes even more so. In Seattle, where the housing market is dynamic and diverse, homeowners often find themselves contemplating the option of selling their house "as is." If you're considering this route, you should understand what it is, as well as its benefits and drawbacks. Let’s explore the ins and outs of selling a house "as is" in Seattle.
What does it mean to sell your house “as is”?
Selling your house "as is" in Seattle means listing it on the market without making any repairs or renovations. This option is particularly attractive to homeowners who want to avoid paying for home improvements or getting any necessary permits.
While selling "as is" relieves you from making repairs, it does not grant you the license to misrepresent your home's condition or features. In the state of Washington, a seller's disclosure isn't required, but dishonesty about your home's defects can lead to legal consequences. It's essential to be transparent about any known material defects to avoid potential legal action.
Pros of selling a house “as is” in Seattle
When you sell “as is,” you get to:
- Skip repairs: Repairs and renovations can be time-consuming. By selling "as is," you eliminate the need to invest in repairs or staging.
- Speed up your sale: Selling your house "as is" streamlines the negotiation process. Buyers are aware of the property's condition, and you may have to deal with fewer seller concessions as a result of a buyer’s home inspection. This transparency can lead to smoother negotiations and a quicker closing process.
Cons of selling a house “as is” in Seattle
While there are benefits to an “as is” home sale, it also means:
- Less profit: When you sell “as is,” you can expect to receive lower offers than you would if you had fixed the issues yourself. Buyers expect a discount for the hassle and cost of making necessary repairs and may even ask for seller concessions.
- Fewer buyers: Many buyers prefer move-in ready homes, which means your potential buyer pool may shrink significantly. On top of that, interested buyers may face challenges getting approval from mortgage lenders.
What are Minimum Property Requirements?
When selling a house "as is” on the traditional market, you may need to consider Minimum Property Requirements. Also known as MPRs, these are conditions, set by the Department of Housing and Urban Development (HUD), to ensure that a property is safe, secure, and structurally sound before a buyer can qualify for a home loan. These standards vary slightly depending on the type of loan, but they normally include:
- Adequate roofing
- Structural soundness
- Functional heating and cooling system
- Lack of exposed wiring
Do you need a home inspection when selling a house “as is?”
In Seattle, buyers do have the option to conduct a home inspection, even if you're selling "as is." However, as a seller, you won't be responsible for repairing any damage or defects found during the inspection. Washington follows the laws of caveat emptor, placing the burden on the buyer to fully assess the property's condition.
How do you sell your house “as is” in Seattle?
When deciding how to sell your house "as is" in Seattle, you have three primary options:
- Sell with a real estate agent: Consider using a discount broker who specializes in selling houses “as is.” They cover administrative and marketing work for a small percentage of your home sale price, usually about 1%.
- Sell by owner (FSBO): List your house using the Multiple Listing Service (MLS) for a flat fee and manage the sale independently.
- Sell to a real estate investor: Choose to work with real estate investors, which can include house flippers, iBuyers, and off-market home buyers like We Buy Ugly Houses®.
Sell your house “as is.”
If you need to sell quickly, want to avoid repairs and worrying about MPRs, or simply prefer a straightforward sale, you could sell your house “as is” with We Buy Ugly Houses. We have a 3-step, seller-focused buying process that works like this:
- Get a consultation: When you reach out to us, we come over for a free initial consultation at your convenience.
- Receive an offer: Once our consultation is complete, we can provide you with an offer based on your property’s current condition and data from comparable local home sales, among other things.
- Schedule your closing: If you accept our offer, we’ll work with you to determine the best closing date for your schedule.
When you're considering selling your house "as is,” We Buy Ugly Houses can help. We can take you from offer to closing quickly and we do our best to work on a closing timeline that meets your needs because your priorities are our priorities. Reach out to one of our local property buyers to sell your Seattle house "as is" with We Buy Ugly Houses.
This blog is for informational purposes only and should not be considered legal advice.
