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Why would someone want to buy my house as-is? What are my responsibilities in selling my house without making any repairs?

There could be many reasons why you might want to sell your house fast. For instance, if you own a house out-of-town, inherited a property or need to move for work. You may not be interested in making, or paying for, repairs to the house, you just want to sell it. You might be asking if you can sell the house just as it is. Maybe you are simply wondering what “as-is” really means?

In the most simplest of terms, selling your house “as-is” means just what it sounds like. It means that you, the homeowner, are selling the property in its current condition. You will not make any repairs or improvements or provide any buyer credits to cover these expenses. Legally speaking, it also releases the seller from any responsibility or liability for the home’s condition.

Why would anyone want to buy my house if it needs repairs?

It’s obvious why you would want to sell your house as-is, but why would anyone want to buy it? Real estate professionals are always in the market for properties and have the resources to rehab your house themselves. Of course the costs of these repairs will have an impact on the negotiated purchase price of the house. The buyer gets a house that he or she can renovate to make a small profit on, and you get to sell your house fast without the hassle of doing any repairs. You also get a fast sale with no contingencies. It’s a win for both sides. 

Buying a house “as-is” is not the same thing as buying a house “sight unseen.”

The buyer is going to want to see the house before purchasing it and you should be well enough acquainted with the house to point out any repairs that it may need. It’s important to note that complete seller disclosure is still required. If you sell “as is,” but fail to disclose all known defects, you may set yourself up for legal problems. In which case, buyers can perform inspections on the house. It’s in the seller’s best interest for the buyer be aware of what they are buying. In short, the buyer needs to know what “as-is,” is. Since cash buyers are often investors, their contingencies, if any, are more likely to be about hidden repairs. Most real estate purchase agreements will have a contingency statement allowing the buyer to cancel a contract should their inspections reveal problems that were not readily apparent. 

Selling your property as-is can be a fast and efficient way to sell your house and is often a tempting deal for buyers.

If you have inherited the home, chances are you have very little idea what may be wrong with the house. You probably don’t know what repairs it actually needs. If you need to move for your career or are just tired of being a landlord, selling as-is frees you from the worry of problems potential buyers may ask you to repair. It can also let you receive the money from your inheritance sooner, instead of consuming your time and money on repairs.

Real estate investors are more than happy to make any necessary repairs on a property if it means they can buy it at a bargain price.  Just make sure you let them do what is necessary to inspect the property and be ready to negotiate with any repairs in mind.


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