Life is full of the unexpected, and most of the time in homeownership the unexpected is not a fun and exciting surprise. Natural disasters, deferred maintenance, and significant life changes affect a homeowner’s relationship with their home, and selling a house as is becomes a helpful and viable option. Understanding what selling a home as is, as well as what the pros and cons are, is important to consider before pursuing the process. Orca Homes’ procedure when purchasing and selling homes in as-is condition is different than other companies, and the best option to consider when thinking about selling a home as is for cash. A homeowner will always get the highest price selling on the open real estate market, but if they don’t have the time or money it takes to make the home move-in ready, the open market might not be their best option. 

What It Means to Sell a House As Is

Selling a house as is means the homeowner makes a deal with a cash-for-house buyer, accepts the offer, and walks away. It sounds simple, and it can be when making the deal with the right company. There are many circumstances where selling a house as is for cash is a great option. Deferred maintenance is one reason homeowners sell their home in as is condition for cash. There are many very expensive repairs homes need: roofs, water heaters, new flooring, foundation issues, and if one or more of those repairs are needed at once, it can set a homeowner back tens of thousands of dollars at once. Other times, the home is in great condition, but a homeowner needs to move quickly. Other homeowners can’t or don’t want to have countless showings due to medical reasons or household pets. Occasionally someone will inherit a property or home in a different state, and instead of spending money on repairs and selling the home on the traditional real estate market, it can be simpler to sell the house in as is condition for cash. 

Pros & Cons of a House Selling As Is

Selling a home in as is condition may or may not be the right solution, and understanding the bigger picture, the pros and cons, is vital before signing a deal with a cash-for-home company. 

The benefits of selling a home in as is condition are numerous. With no need for an inspection, the seller is off the hook for all needed repairs, and the deal can close much quicker than a home selling on the real estate market. There are virtually no delays when selling a home as is once the deal is signed. Even if another significant problem with the house is discovered, the deal will close and the homeowner will receive their payment. 

Packing and moving is stressful enough, but when selling a house as is, the homeowner does not have to take or deal with anything they choose not to. Furniture, tools, and clothes can be left behind with no questions asked. This eliminates the need for storage, dump runs, and coordinating a moving company. Not everyone leaves items behind, but some do, and it’s not a problem when selling as is. 

Instead of being on the buyer’s timeline, selling as is allows the homeowner to stick to their own timeline. There are no contingencies to brace for in an as is sale. Many buyers include contingencies for inspection, appraisals and financing, but when selling as is, these are not a factor. Contingencies favor the buyer by allowing the buyer to walk away or negotiate for a lower price if problems arise with any of these, further delaying, and possibly eliminating the deal altogether. 

Cons

However, selling a home as is isn’t for everyone in every situation. The real estate market is the right option for many. When you sell a home for cash there are no bidding wars to drive the price up with escalation clauses. The profit of selling a home as is will be lower than selling a home on the open market. However, if no money had to be spent on repairs, closing costs, and real estate commissions, the lower profit doesn’t seem as low. 

How to Sell As Is

For a home to sell on the real estate market, it must have a number of significant items in working order. These items will show up on inspection reports, and the home will not close if the inspection items aren’t taken care of. This can lead to delays for repairs, and additional expense to the homeowner, cutting into the efficiency of the timeline and profit when the home closes. 

Here are some inspection areas that must be addressed before selling a home: 

Foundation: visible cracks, sinking, or crumbling
Roof: there can be no leaks or damage
Attic space: mold and ventilation issues
Rain gutters & downspouts: in working order, draining water away from foundation
Electric: panel must be in safe and working order, as well as outlets and lightswitches
HVAC system: thermostats, heating and cooling (if applicable) and proper ventilation must be in working order
Plumbing: faucets and fixtures along with the water heater must be in proper working order and not leak
Appliances: in working order
Walls, ceiling & floors: no buckling or bowing, no cracks or holes
Doors & windows: open and close properly, no broken panes, no holes in doors
Stairs, steps & railings: no missing steps or railings, everything in safe, working order
Porches & balconies: working railings in sturdy condition, no rotten wood or missing boards
Crawl space: no standing water, no mold or rodent issues

Every home has inspection issues, but the difference is none of these inspection items have to be fixed before selling a home for cash in as is condition. For a homeowner who is looking for a fast timeline, and who doesn’t want to deal with showings, inspections, and nit-picky negotiations, selling a home as is could be their best answer. 

The Orca Homes Process and How It’s Different

If selling a home as is, is the right choice for your situation, Orca Homes is the company to choose. We do it differently. Many cash-for-home companies are middlemen. They find a buyer, but meanwhile show people through your home and then enter into negotiations with that buyer. The process takes longer, and with contingencies the deal could fall through. With Orca Homes, we are the buyer. There are no middlemen, no additional showings, and only upfront, transparent proceedings. We partner with you throughout the process to ensure confidence. When we make an offer on your home the price is guaranteed, it will not change. Because we are locally owned and operated, we understand this unique market, and we have caring and responsive staff to answer questions. 

Understanding what selling a house as is, and the process of doing so is important before entering into a deal. There are benefits and drawbacks to selling a home in as is condition for cash, but it is the right solution for many. If it is right for you, and you want to find out more about finding a cash home buyer, consider getting in touch with Orca Homes today.