Selling your house "as is"
Selling your house "as is" means selling it without making any renovations whatsoever. You simply advertise it in the condition that it is, and hope that you get an interested seller with an intention of purchasing. Making renovations though, entails fixing everything in the house, from any flickering lights to any broken window panes. The house is made to look like new and without fault. Lets take a deeper look at how these two selling conditions do in the market.
Selling your house as is is recommended when you don't really have the time or the finance to go through with repairs. Of course this has a direct influence on the fate the house befalls in the end. For starters, you get a lower asking price for the house, based on it's condition. Chances are, you might get to sell it at a price lower than it's worth, unless the demand for houses is high. You are saved on renovations costs, but you get restrictions in how much you can actually ask and get for it.
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If you decide to go ahead and make the renovations, you have to be prepared to meet the costs that come with it. Putting it into perspective, you can get new counter tops to make your kitchen more appealing, or get a kitchen island instead, get new lighting fixtures for the whole house, repaint the whole house, do a little landscaping in the backyard and so on. Doing all this is not cheap, and may set you back thousands of dollars. The good news though, is that you get to improve the overall worth of the house. You legally get the right to raise the asking price for the house, so that you can settle the costs that you initially incurred.
Its hard to conclude in one direction, the best way to sell your house. But basically, if you are going through some financial difficulty, then you can sell as is but if you have more time and a sum you are not really using, then consider renovating instead.
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Posted in Real Estate Post Date 02/17/2015
Keller Williams Edge Realty Inc, Brokerage
Independently Owned and Operated
3027 Harvester Road Suite 105,
Burlington ON L7N 3G7
Office # 905-335-8808
Fax # 289-288-0550