What to know about selling a house “as is” in Tucson
It takes a lot of work to sell a house. Between marketing, staging, and closing, the process can be both time-consuming and costly, even when you have a house in perfect condition. But when you’re selling a house that needs repairs, you could be biting off more than you can chew.
Home repair costs add up fast, and it may take weeks or even months to get the necessary permits and complete the projects. Luckily, you have the option of selling a house “as is.”
What does it mean to sell your house “as is”?
Selling a house “as is” means that the property is being sold in its current condition, with no repairs or improvements made before the sale. When you sell “as is,” you are essentially telling potential buyers that they must accept the property in its present state, regardless of any issues or needed repairs. While you may not get full market value for your house, you won’t be responsible for addressing any issues found during a home inspection.
Even if you’re selling “as is,” you will need to provide disclosure to buyers. In Tucson, sellers are legally required to provide a disclosure statement that outlines any known problems with the property. Failing to disclose known issues can lead to legal consequences, so it’s in your best interest to provide disclosure.
Pros of selling a house “as is” in Tucson
When you sell “as is,” you get a sale with:
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Fewer upfront expenses: Selling a house “as is” means you don’t have to spend money on renovations or upgrades. This can save you thousands of dollars in upfront repair costs, making it an attractive option for sellers on a tight budget. Additionally, you avoid the stress associated with scheduling and supervising home improvement projects.
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Less hassle: One of the biggest advantages of selling a house “as is” is the convenience of the sale. When both parties understand that the property is being sold “as is,” it simplifies the negotiation process. There’s no back-and-forth over repair requests or price adjustments due to inspection findings. This clarity can lead to a smoother transaction.
Cons of selling a house “as is” in Tucson
The potential drawbacks of having an “as is” home sale can include:
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Lower home price: Selling “as is” means that you will likely receive a lower sale price compared to homes that are in better condition. Buyers will factor the cost of necessary repairs and renovations into their offers, which can result in lower bids.
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Smaller buyer pool: Not every buyer is interested in purchasing a fixer-upper. Many home buyers prefer properties that are move-in ready. On top of that, buyers may have difficulty getting approval from certain lenders due to strict lending requirements.
Do you need to worry about Minimum Property Requirements?
During your home sale, it’s important to be aware of Minimum Property Requirements (MPRs). These are standards, set by the Department of Housing and Urban Development, that properties must meet to qualify for financing. MPRs generally focus on safety, security, and structural soundness. If you’re planning on selling to a buyer who will need to secure their own financing, you will need to be aware of these MPRs.
How to sell your house “as is”
If you decide you want to sell your Tucson house “as is,” you can:
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Hire a real estate agent: There are discount brokers who specialize in “as is” home sales and can help you sell a property that isn’t in perfect selling condition. These agents are cheaper than traditional agents. They will handle all of the administrative and marketing work for a fee, usually around 1% of the home sale price.
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Sell FSBO: You can take control of your own home sale by selling FSBO (for sale by owner). You can do this by listing your property on a flat-fee Multiple Listing Service that caters to “as is” home sales or by marketing the property yourself.
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Work with an off-market home buyer: You may want to opt to work with a real estate investor that specializes in purchasing properties in less-than-perfect conditions. These investors include house flippers, iBuyers, and direct home buyers like us.
Sell your house “as is” with We Buy Ugly Houses®.
You can sell your house “as is” with We Buy Ugly Houses®. We can make your home sale simple with our 3-step home-buying process. When you choose to sell your Tucson house to us, you get to:
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Avoid inspections and disclosures.
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Reduce your upfront selling costs.
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Experience a simple, streamlined home sale.
When you want to avoid making repairs and sell your house fast, We Buy Ugly Houses® in Tucson is here for you. Contact your local We Buy Ugly Houses® property specialist today to get a free, in-person consultation.
This blog is for informational purposes only and should not be considered legal advice.
