Need Cash for Last Minute Repairs? Get an Idaho Hard Money Loan
House flippers and rental property investors typically improve properties before putting them on the market to ensure the highest ROI.
But sometimes, due to circumstances or limited time and money, real estate is listed and sold as-is.
What is an “as-is” listing? It’s when a buyer purchases a property in its existing condition, and the seller is not responsible for repairs, regardless of any inspection report.
There are risks for both seller and buyer in an as-is transaction. But with those risks can also come the advantages of nimble negotiation and a quick sale.
Here are the to-do’s, pros and cons of selling a property as-is.
Tips for a Successful As-Is Property Sale
- Tidy up: Even when you opt to sell as-is, a small bit of effort will help your listing stand out. You can declutter and clean, freshen paint, and improve curb appeal without spending a lot of time or dollars.
- Pre-inspect: A pre-listing inspection will identify any major concerns or issues with your property – and is essential to your ability to negotiate a fair price.
- Big stuff: Consider making big-ticket repairs depending on your time and resources. Structural damage, a bad roof, or a pest infestation may be enough to deter prospective buyers. Avoid large upgrades that will only marginally increase property value.
- Disclose: Be ready to fully disclose any property issues you are aware of upfront (see #2!); it’s mandatory in most states. It is better to negotiate honestly than be caught later in a non-disclosure.
- Price it: Do some research, review nearby comps, and price your property fairly. The housing market is hot. But that doesn’t mean every home or rental property will sell without question. At the same time, don’t undersell your property!
- List it: Time to list! Be sure your listing clearly identifies your property as an “As-Is” sale. It will help you connect with real estate agents and potential buyers interested in as-is fixer-upper opportunities.
Selling real estate “as-is” can be a win-win for both seller and buyer. Be flexible, negotiate fairly, and you’ll have a successful sale!
As Idaho Hard Money Lenders, We Offer Quick Financing for Repairs
If you are trying to get your real estate investment property on the market fast and need financing for unexpected upgrades or repairs, a hard money loan could be the perfect answer. Gregory M. Russell has partnered with Idaho real estate investors for over three decades. Our trusted hard money loan services provide creative, easy qualifying funding options to house flippers, landlords, and other investors. Unlike traditional banks, our direct private money loans are asset-based, and our approval process is simple. Your employment and credit history are secondary, and paperwork is minimal. Talk to us. We’re here to help! 1-888-477-0444. Ready to go? Complete our online loan request form.