Sell House As Is For Cash – Understanding the Risks

When sell house as is for cash, you’re essentially giving the buyer a “free pass” on any necessary inspections. These may include a lead paint test if the house was built before 1978, a water quality and quantity testing, or even a radon and mold inspection. While avoiding these potentially costly contingencies can save you time and money, it’s important to understand the risks involved in an as-is sale before proceeding.

What month is the best to sell a house?

Cash buyers are investors who are looking for properties they can fix and resell, so they typically offer lower prices for homes in disrepair. However, they also close faster and don’t require mortgage lender approval. This makes them a good choice if you’re under pressure to sell your property quickly, or if you have financial limitations that make it difficult to repair and remodel your home before selling it.

It’s also worth noting that even though you’re not undertaking any repairs, you are still obligated to disclose any issues that could affect your property’s value or prevent the buyer from closing. This is a legal requirement, and failing to do so could open you up to lawsuits down the line.

If you’re considering an as-is sale, the best place to start is by researching comparable homes that have sold in your area. This will help you set an appropriate asking price for your property. You should also consider the amount of work that will be needed to make the home suitable for living, and factor that into your asking price.