So you’ve decided it’s time to sell your home and move. You take a look around your house and realize that it’s not exactly in the best condition. That may cause you to wonder if you should bother getting it fixed before you try to sell. If you don’t, that means you’re choosing to sell as-is. That decision has certain implications for both the seller and buyer.
For the Seller: No Repairs Needed
As the name suggests, selling as-is means you’re selling the house in its present condition. You won’t be making any repairs while the property belongs to you. That can be a huge relief since some repairs could cost you tens of thousands of dollars, depending on how complex or extensive they are. You could also save yourself months of waiting for repairs to be completed.
For the Seller: A Duty to Disclose
It’s not enough to say that you’re selling the house as-is and be off the hook for everything. Nevada disclosure laws state that the seller must disclose all known defects that negatively impact the property’s value and use at least 10 days before the property is conveyed to the buyer. Failing to do so could leave you liable for repairs even if you said you were selling as-is. Because of this, it’s best to get the house inspected before you try to sell it. That way you can disclose defects appropriately.
For the Buyer: What You See Is What You Get
Buyers who purchase as-is homes should already understand that what they see is what they’re going to get when they make their purchase. Because as-is houses can be comparatively risky purchases, as-is buyers may hire a home inspector to inspect the property even if the seller already had one done. It’s all part of a buyer doing their due diligence in making sure they are making a wise purchase. The buyer can use the information gleaned from the inspection to make sure the offer they’re about to make makes sense based on the home’s condition.
Whether you’re selling a house as-is or you’re buying one as-is, it’s always best to make sure you know what that means for you. Regardless of what side of the transaction you are on, make sure you know what condition the house is in. That will help you identify a fair offer when it’s extended to you.
Sierra Housing Solutions buys Sun Valley, NV houses as-is! Click here to take the first step towards your free, no-obligation, all-cash offer today!