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  • Writer's pictureBannister

"I'm Not Doing A DAMN Thing..."

Easy cowboy...

Let's think that one through.

You know the shadowy parts of your home.

Yes you do.

The bathroom added without permits.

The deck that's about to collapse. But hasn't. (Yet...)

The wood rot filled with an entire aisle of caulk.

But you're ready to get the hell out of there and not get tied up with working on a house you don't want anymore.

"I'm not doing a damn thing! Sell it AS IS."

Thinking: "I will preserve my profit by not losing any time or money on repairs now."

Reality: Maybe. But probably not.

In rare cases it is necessary to sell AS IS:

  1. The house is inherited and the heirs are unable or uninterested in making repairs.

  2. The bank owns the house.

  3. The seller is financially unable to make repairs.

  4. The sale is an emergency. Dearest buyers, take it or leave it.

Not you? Here's why we never say "As Is" unless absolutely necessary:

  1. Perception is everything. Buyers read "As Is" like a billboard in your front yard:"BEWARE! WE'RE DESPERATE AND THIS HOUSE HAS BIG ISSUES!" That may not be true. Doesn't matter.

  2. Low-ball offers. "As Is" signals distress. Offers will be made assuming the worst.

"Ok, but I still don't want to do anything to this house...:"

  1. Is it a lot of work? If so, we'll shift marketing towards investors, flippers and buyers wanting a fixer upper.

  2. We'll get quotes for the work needed and adjust the sales price to reflect that amount or offer a closing cost credit. This way the buyer knows we've done our homework but will not be negotiating twice on those issues.

  3. Get a pre-inspection and lay all your cards on the table so there's no Round 2 for repairs.

  4. Bite the bullet. Case Study: Mr. Medic furrowed his brow at my $6000 suggestion for fresh paint, new light fixtures and an HVAC tune-up. Result? $20,000 over-asking price. That $14,000 difference replaced an under-asking price offer.

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