Sometimes you just have to skip town. Don’t let a property in disrepair keep you from taking the next steps in life. Read here to find out how you can quickly sell a home “as is” in the Sunshine State.
While it’s never wise to make sweeping generalizations, it’s fair to say that everyone agrees selling a house is complicated. There are so many variables that affect whether or not you’ll be able to sell—some in your control and others not. You have to consider the current condition of your home, the market, and whether or not you’ll be able to make a profit after paying off your debts.
Of course, sometimes you need to sell a house as quickly as possible. Life happens and you might need to be out the door in a matter of a couple of weeks. Perhaps you’ve scored a new job and are looking forward to new financial success outside Florida. Or, maybe you’re going through a tight period and need to sell. Other times, family issues come up and it’s prudent to be closer to the parents. No matter what the cause, in these sorts of situations, you’ll need to sell “as is”.
Selling a home “as is” has its short-term benefits, but keep in mind that you probably won’t make as much money as you would by waiting and selling on an open market. Before you make a decision, talk to a professional, and find out your best-case scenario. They can talk to you about how long it would take to sell and how much you could expect to make off the property. If it doesn’t look like selling on the open market is an option, you’ll need to consider a few things before selling as is. We are here to walk you through the process and help you come to the best decision. Let’s dive in.
What Do We Mean By “Selling As Is”?
Because you need to move as soon as possible, you won’t have time to make renovations or repairs to the property. Therefore, selling “as is” means that you will list your home in its current condition. Unfortunately, listing a house this way means that buyers will be left to assume that repairs are needed. You’ll have to list your house for lower than optimal but buyers will be more attracted to the less expensive price.
We said that selling “as is” has its benefits though. One of these benefits is that you are not required to fix up any damage that the buyer finds. That being said, don’t go into a sale thinking you can hide the truth from a buyer. If your home is in bad condition, you are still legally obliged to be upfront about any damages that could lower the overall value. In fact, in Florida, you will have to fill out an honest seller’s disclosure to admit whatever damage you know the property to have. Selling “as is” is not an excuse to be dubious. You are not excused from your obligation to answer buyers’ questions. Be honest with your real estate agent and they can help to mitigate the extent of the damage by negotiating with a buyer.
Why Even Sell “As Is”?
If you’re not going to make as much money selling “as is”, what’s the point? Why not just wait, make some repairs, and sell from out-of-state? Beyond being able to deny buyers’ requests for repairs, selling “as is” has a few other benefits.
In life, it’s practically impossible to foresee the future or when things will come up. If you need to move on short notice, selling as it lets you get out of the house without having to make the needed repairs. While organizing home improvement projects from a city or state away can be possible, be wary of the difficulties you could face by doing so. Without a hands-on approach, you won’t be able to direct contractors as you see fit and renovations could easily fall behind schedule or become needlessly expensive.
Other times, a homeowner might not be in the best of financial situations. Selling “as is” can act as a workaround when they can no longer make payments on their mortgage. In this sort of situation, a homeowner would not have the capital to invest in fixing up their home before selling. They don’t want to fall into foreclosure, so they sell as-is.
Some homeowners even sell their properties because they have fallen into too much disrepair. If you’ve recently inherited a property that’s not seen work in years, it might not be worth investing in the renovations so you could sell it “as is” and pocket whatever profit you make. At the end of the day, the benefits are the same across the board—you’ll save time and avoid paying the cost of renovating a property.
Where Selling “as is” In Florida Can Fail You
As we have mentioned a few times throughout this article, don’t go into an “as is” sale thinking that you’ll make the same amount of profit as you would on the open market. By skipping out on renovations, you’ll lose the money you’d earn by investing further into your property. You are paying for convenience.
Also, while it is true that some buyers search for homes listed as is, other buyers may be turned off by the listing. Without checking out the property first, buyers can often lack confidence, and assume the absolute worst of your listing. For some, when they hear “as is”, they’ll imagine long-standing structural damage beyond fixing.
For those who are not afraid to invest in an “as is” property, they will likely offer much lower than you want. You see, they view their purchase as exactly that – an investment. Often, these types of buyers are looking to quickly fix up and flip the property for their own profit.
If your property is not in terrible condition and you just need to move now, you might not stand to lose too much. Your loss comes down to what condition your home is in, and, of course, the standard selling points – location and the market. If you find yourself in an area inundated with ready-to-go prefabricated homes sitting empty on the market, you might struggle to make as much profit as you would in a less saturated area.
What Are My Options?
Unfortunately, much of Florida meets the standard of “oversaturated”. If you find yourself in this situation and are struggling to sell, we have good news for you. My Florida Home Buyers is a company designed specifically to buy homes “as is”, at a reasonable price. We are a real estate solutions company and we can offer you an upfront cash payment.
Going through our service has its obvious benefits, including a faster selling process, a guaranteed closing, and no doubts about our payments. We are also accustomed to working with houses in disrepair, undergoing foreclosure, or bridled with thousands of dollars of liens. You don’t have to worry about whether or not we’ll take on your listing.
That being said, you still will not make the full amount that you would on an open market. Selling through a real estate solutions company is just a means of selling quickly without fear of a buyer defaulting. We are not flippers though. Rather than seeking to make the maximum profit, we aim to give you the best offer possible while still making our end back.
How Selling Through My Florida Home Buyers Works
Unlike a standard real estate agent, our solutions company is not looking to sell your home for you. We purchase your home directly with an upfront cash payment and then profit by repairing and reselling the property at a higher markup. This is a safe and secure process, guaranteed to go through all the proper channels, so you are assured of a quick and easy closing.
If you need to sell quickly or cannot afford to make repairs or pay the mortgage, getting money upfront is certainly an attractive offer. We will take your situation into account and offer the most reasonable price. Before you accept our offer, though, be sure to check exactly what it entails. We are transparent about not sneaking hidden fees into our offers. Some companies may so, leaving you to cover closing costs and their commission out of the actual total. If you do go with another solutions company, check that they are offering a net sum to avoid being beguiled out of a few extra thousand dollars. When you are already selling lower than preferred, those added hidden fees can quickly add up.
What Can I Expect From Selling Through My Florida Home Buyers?
Selling through our service is surprisingly simple. We are set up to make the process as streamlined as possible. You just submit some personal information and details about the house, and we will set you up in no time. We will need to know your home address, the current condition of the property, the extent of any damage, who is currently occupying the building, and some basics such as how many bedrooms and bathrooms are in the home.
There really is nothing to lose! Once you’ve submitted your information, you have complete control over the situation. If you change your mind, just let us know and we completely understand. You are not obliged to accept our offer and can sell your property as you see fit.
From here, you will be contacted about setting up a meeting. We will come inspect your house to quote an accurate buying price. This shouldn’t take long at all, though. In about thirty minutes, we will walk through the property, record some video, take photos, and assess whatever damage we find. From here, we’ll do some market research and come back with our best offer.
Now, it’s crucial that you’re upfront and honest about your current situation. We are used to working around foreclosures or possible debts, but if you’re not transparent about your home’s situation, we cannot offer a true amount for your property. Be sure to check whether there are any liens on your home and, if so, inform us before going to closing. If you fail to do so, you will be left to pay any outstanding debts out of the initial offering.
What Should I Do After Receiving An Offer?
If you meet our buying criteria and we make you an acceptable offer, simply agree to our terms and we will take care of the rest. We quickly work through a local attorney to get the closing process put through as soon as possible. This is prime for anyone needing to move pronto.
Once the sale is closed, you can either come to our office to sign or have the closing papers sent to you. You will need to have them notarized but, from there, you are done! You’ll have sold your home. There’s no need to tidy up or fix the property, as we will take care of it from there.
If you are looking to sell quickly and are located in the Orlando area, give us a call. Whey can quickly inspect your home and offer a transparent and fair price for the property. No matter what life throws at you, understand that you are not limited by your property. If you suddenly score a new job and need to move cross- country, or your finances have gone awry and you can no longer meet your mortgage payments, there are still options available to you.
While selling “as is” through a cash buyer may not net you as much as you would make on an open market, sometimes you have no better option at hand. If you need our services, you can reach us at (352) 519-4512 or fill out our online form to set up an appointment. We are ready and standing by to help as best as we can.