What is As Is Real Estate Deals?
When the Real estate property is listed to sell as is by an owner or the real estate agent, it means that the property owner or seller is selling that property in its present conditions. It also states that the seller is selling property without performing any types of repairs or improvements in it.
Why do people sell their home As Is.
Generally, when the cost of repair or replacement of components of a house is higher because of malfunction and obsolescence, the home-owner considers selling as a better option than to put money in the repair or improvements.
When the homeowners find that their property is highly obsolete and also they run out of funds and are left with no money to renovate their house, then they try to sell it as is it as they are not able to afford the repairment cost.
Sometimes pre-foreclosures and foreclosures list as as is selling. When the property owner is not able to pay the mortgage loan due to some circumstances, He or she decides to sell it as is to get money for the repayment of the mortgage installments.
The lender bank which is a provider of mortgage loans, that has acquired the home of the borrower because he or she fails to repay the mortgage installments to the bank. To release their money as fast as possible, the lender bank puts that home for sale as is and raises their funds.
If the property owner wants to move to their other property without any reasons, then he or she will list their houses to sell as is. As selling property as it is, is the stress free mode of property transfer, as you move your belongings out and hand over the key of the house to the buyer.
What are the drawbacks of selling the home in As Is state.
When the buyers see the listing of the as is house, the first thing comes to their mind is that, property or property owner is dealing with something wrong. Also they think to ask to reduce the listing price.
Selling a house as it is does not help the property owner to earn the desired amount of money by selling it. Because of the problem mentioned in the previous point, the house owner often needs to keep the listing price of their property significantly below the fair market value. So that the listed deal can attract the potential buyer.
Usually buyers prefer the inspection of the house prior to buying to ensure the quality of house components and also the property they are buying is actually deserving of that amount. In inspection if they find some extra defects then they might leave the deal or try to further compensate in terms of extra price cut down.
It is difficult to sell the house as is because the number of buyers interested in this type of deal are limited as compared to other types. Also many investors think that this deal may not prove to be profitable as it involves a huge renovation cost to prepare it like before.
If house owners hire a real estate agent for selling their house, the real estate agent charges a commission of about 6% and this leads to further cut down in the fund which they are going to receive by selling the house.
How to sell As Is property at RealEstateCake.
RealEstateCake by RealEstateCake Inc. is one of the highly recommended Real estate platforms in the United States. It has a specialization of various real estate deals such as foreclosures, pre- foreclosures, tax liens, short sales, wholesale real estate deals, and As Is real estate deals, connecting real sellers with real buyers.
In RealEstateCake the property owners can list their property for sale without any cost. To sell the house as is, the owners have to just register at RealEstateCake and list their house with required credentials. They can put the desired price and include photos at time of listing. Once the potential buyers sees it and if they are interested in your as is deal then they will notify you. Thus, this is how RealEstateCake helps as is house sellers by saving the amount of commission which they give to real estate agents to sell their houses.