Time limits and lack of finances are circumstances many homeowners face that make selling your Philly house as-is appealing. When you sell your house fast Philadelphia as-is it’s convenient, however there are important things every seller needs to know.
You have likely sold a house before but you had an unforgettable experience over how the value of your house dropped because of every little defect discovered or you have heard of the horrifying experience homeowners have had, after attracting a great offer but selling for much less after their home was inspected.
What does it mean to sell a house as-is?
Selling a house as-is means that the buyer takes ownership of the real estate in whatever condition it is, good or bad – mostly bad. In this case, the seller states it clearly that they will not be making any repairs on the property.
What it means to hire a Realtor to sell your Philly House As-is
The traditional way of selling real estate is to use realtors or selling as an owner. It sometimes seems convenient, but it is important to take note of what selling as-is using this method entails. It would guide your decision on whether or not you should hire a realtor to sell your Philly house.
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Inspections
It is a common notion among homeowners that selling a house as-is means no inspections, which is absolutely right, but if you are using a realtor, you must be ready for intense inspections of the property, as that would be the major determinant of the price offers you would be getting.
It is in the best interest of the seller that the buyer is fully aware of what they are buying because concealing major damages might attract lawsuits in the future. These inspections would cause a massive reduction of the asking price.
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Contingencies
The common contingencies with using realtors are the ability of the buyer to get financing or to be able to sell their existing home first. Traditional sales would have additional contingencies that allow the buyer to cancel a contract if their inspections reveal any problems that were not obvious initially.
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Price re-negotiation
After a potential buyer makes their inspection, they may ask for a cut in the price, which could be a fair request if the inspections reveal repairs that were not obvious initially. Selling as-is for a seller means they do not have to fund the repairs, but for the buyer, It means they would have to factor the cost of repairs in the purchase price. The more the inspections, the more likely it is for a renegotiation of price.
To sell your house as-is using a realtor is not favorable; it is laden with so many uncertainties. If you fix-up the property, you might get a better bargain but you must factor in the cost of making the house appealing to the buyers.
What it means to sell your Philly House As-is to a Cash Buyer
Selling your real estate to a cash buyer in as-is condition is one you should consider, as it not only aids a fast sale, it helps you save thousands of dollars and make a profit off the sale of your real estate.
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No inspections
When you contact a cash buyer to sell your Philly real estate, you would need to give full details of the property. Anything and everything must be explicitly described. In this case, honesty is the best. Once all of that is done, checking the property does not affect the offer you get. Cash buyers make you an offer in less than 24 hours, which gives very little time for inspections.
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As-is means as-is
When a cash buyer says they will your house as-is, they mean it. You do not have to bother about making any repairs or remodeling the property. You will not have to factor in the cost of repair in the selling price, they will buy the property from you and handle the cost of repairs. Cash buyers will buy your property, whether it is:
- Fire damaged
- Damaged by hurricane
- Flooded
- Cracked walls
- Faulty foundation
Whatever the condition of the property, even if it doesn’t meet the required standards for a Philly home, cash buyers will take the load off you. You should not be spending thousands of dollars and much of your energy on a property you will no longer be living in.
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No contingencies or obligations
You have no worries about contingencies that might arise from financing the sale. Cash buyers do not depend on banks for financing, they are adequately funded and have the cash to pay upfront. No cancellations, you will know if you can be helped immediately you call. And if you are not comfortable with the offer, you are at liberty to call off the deal, without any obligations whatsoever.
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Fair cash offer
You get a fair cash offer when you sell to a cash buyer. You won’t be covering the cost of repairs or legal fees; neither will you have to pay any application fees or commissions. Your cash house buyer will make a very reasonable cash offer and you are free to negotiate if you are not comfortable with the deal. Selling to cash buyers allows you to make a ton of profit off the sale of your damaged real estate.
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A Short timeline
The timeline for the sale is determined by you. You save time on repairs, and the long wait of listing on the MLS is eliminated. No back and forth negotiations. The whole process is simplified with cash buyers, making you the sole determinant of the closing date. The deal can close in less than 7 days, all dependent on how fast you want it.
Selling Your Philly House As-IS
HomeCashGuys are your preferred choice cash buyers. We buy houses Philadelphia and environs as-is. We have years of experience dealing with homeowners with defective houses and we help them make a good profit off the sale of their real estate. Call us now to get a fair cash offer.
