How to Sell a Massachusetts Home As-Is?
Do you want to sell your house as-is, where-is? When most homeowners think about selling their home in as-is condition, they do not want to make any repairs or improvements to the property.
Fair enough - not many people want to spend money improving a property they will no longer own.
However, when you sell a house as-is, there is a right and wrong way to do it. A significant mistake is advertising your home as an as-is sale.
A negative connotation will be associated with your home when you do this.
We will explore some of the most essential things to understand about selling a house as-is, so you minimize your mistakes.
Following these tips, selling a home as-is in Massachusetts should be pretty straightforward.
What Does Selling As-Is Mean?
To sell an as-is Massachusetts home means you are offering with no renovations or repairs to be undertaken and that it shall be delivered with its existing issues and faults.
Be cognizant that, in actuality, all houses are offered "as-is" and "where-is." A seller is never obligated to modify their property for a buyer. You cannot coerce an owner into altering a home's present condition without their consent.
What Selling a House As-Is Doesn't Mean
Selling a Massachusetts home as-is doesn't mean you can lie to a buyer if they ask you about its condition. You must be honest when asked a direct question. Under Massachusetts law, however, sellers do not have to disclose issues with their property voluntarily.
Massachusetts is a Caveat Emptor state or "let the buyer beware." So, if a home were stigmatized in some form or fashion, a seller would not need to disclose it.
Buyers should do plenty of due diligence before making an offer on a home.
How to Sell A Home As-Is Fast in Massachusetts
To sell a house quickly in as-is condition can be accomplished in two ways. You can sell the home to a real estate investor or put the home on the open market.
Selling an as-is house to an investor can happen quickly. Most investors looking to purchase properties will do so within 30 days. The most significant downside to selling your Massachusetts home to an investor will be the price they offer.
Plan on it being significantly below the market value. You can expect that an investor will offer to pay between 30-50 percent lower than what you would get on the open market with a real estate agent.
Selling a Home As-Is For Cash
The most significant benefit of selling a property as-is to an investor will be a cash purchase. When real estate investors purchase homes they intend to flip, they will pay cash.
Investors want to close as soon as possible and begin their projects. You will also not have to worry about going through the home inspection process with a real estate investor.
Selling As-Is Through a Real Estate Agent
The second way to sell your home, and the more popular method, is listing with a local real estate agent. The key to selling your house as-is fast will be to price the home, accounting for all its flaws.
You must remember that if your home has issues, they must be accounted for in your asking price. Typically, it is wise to price your home slightly under the market value, so it appeals to more buyers.
There will be an added workload for a buyer on a home that needs significant improvements.
It might take a little longer to sell when you sell with a real estate agent, but you will maximize your profits. You will net significantly more money even with paying the Realtor's commission.
Selling a House As-Is By Owner in Massachusetts
You may be curious about how to sell a homeowner without incurring any red tape. The same guidelines apply when selling FSBO properties.
Attempting to sell a property without an agent can be daunting. The most essential aspect to assess and where most for sale by owners fail is nailing down the correct list price.
Many for sale by owners overprice their property. Additionally, there is nowhere close to the same exposure on the market than when listed with an agent.
For sale by owners almost always net less money, even considering the real estate commission.
Concluding Thoughts on As-Is Home Sales
When an inquirer asks if it's advisable to list their property as-is, my answer is consistently negative - the drawbacks of marketing this way far outweigh the benefits.
Given the option, it is advisable to market your home without explicitly referring to its condition as being sold "as-is." It's best to abstain from using such terminology when advertising via the multiple listing service or other promotional materials.
Marketing this way provides feelings of negativity to the property. Home sellers should fall back on some helpful tips for selling property in its present condition.
Did you enjoy this advice on selling a Massachusetts home as-is? See other real estate articles on NewsBreak for more timely tips and advice. Bill often writes about general real estate, mortgages, finance, moving, and home improvement.