One of the differences between a Realtor- “Agent” and a Real Estate Consultant (and there are several) is the desire and ability to help a client understand the marketing and overall real estate transaction process.  I also desire to help people “read between the lines” and understand just what exactly is being stated or “pitched.”

So I hear, “I want to sell my house as is” or from various sales solicitations, “We’ll buy your house as is.”   Just what is being communicated?

There are perhaps 3 important answers:

1.Lets start with the “disclosure” side of things.  When a person says or indicates they want to sell a home “as is” that could refer to the manner of disclosure about the material facts regarding a house/property.  Perhaps the home was/is a rental or maybe their Grandparent’s home – either way the seller never lived in it and therefore they do not have much, if any knowledge about the material condition of the home.  They would fill out an “alternative disclosure” form and should attach an “As Is” addendum to that.  That signals to the buyer- very minimal disclosure and once you close- you own, and there is no recourse if something is found to be in disrepair after closing.  For this reason alone their buyer’s inspection is even more critical. 

On the marketing side, the seller still wants to get a retail price from full market exposure, though they understand it may be less based on overall condition.

2. From the Seller’s perspective: “As is” means- I don’t want to fix, repair or update anything.  They have occupied the house and perhaps all the seller wants to do is clean, empty out the house as much as possible and get it sold!  No fixing, no repairs, no paint etc.

On the marketing side, the seller still wants to get a retail price from full market exposure, though they understand it may be less based on overall condition.

3. From the “wholesale” buyer’s perspective: This is where it can be confusing.  People are getting bombarded with lots of “we’ll buy your home as is…” or “sell your house as is.”  The consumer thinks, “Yes, that sounds good, that’s what I want to do for the above reasons….”  However, what is important to note is this:

On the marketing sideselling your home “as is” in this manner will almost always (in fact for the true wholesale buyer) ALWAYS will net you (the seller) substantially less money than if you exposed your house to market forces and activity.

So, the moral to the story is to know what you want and what you, and the buyer mean when you say, sell my house- “as is.”

 

How can I serve you?

Paul