26 Jul 2023
By Kevin Gahagan

Selling a House “As-Is”: Pros, Cons, and Considerations

Selling Your Home

Selling a House

When it comes to selling a house, homeowners have different options available to them. One approach that some sellers consider is selling their house “as-is.” This means selling the property in its current condition without making any repairs or renovations.

Pros of Selling a House “As-Is”

Convenience: One of the primary advantages of selling a house as-is is the convenience it offers. By selling the property in its current condition, you can avoid the time, effort, and cost associated with repairs and renovations.

Cost Savings: Selling a house as-is can potentially save you money. When you sell a property in need of repairs, you can avoid the expense of hiring contractors or professionals to fix issues. Additionally, you won’t have to invest in materials or deal with unexpected expenses that may arise during the renovation process.

Faster Sale: Properties listed as-is often attract buyers who are specifically looking for fixer-uppers or investment opportunities. Consequently, selling as-is can expedite the selling process and lead to a quicker sale compared to selling a house that needs repairs.

Cons of Selling a House “As-Is”

Lower Sale Price: While selling a house as-is can speed up the selling process, it often comes at the expense of a lower sale price. Buyers may discount their offers to account for the repairs they’ll need to undertake after purchasing the property. Keep in mind, you might not receive the full market value for your home.

Limited Buyer Pool: Selling a house as-is typically appeals to a narrower pool of buyers. Many potential buyers may prefer move-in-ready homes, which means you might have fewer interested parties.

Disclosure Obligations: Selling a house as-is doesn’t absolve you of disclosing known defects or issues with the property. Failing to disclose material defects can lead to legal complications and potential lawsuits.

Considerations for Selling a House “As-Is”

Evaluate the Property’s Condition: Assess the extent of repairs needed and the overall condition of the house. Determine if selling as-is is a viable option or if minor repairs could help attract a wider range of buyers and potentially increase the sale price.

Consult with Real Estate Professionals: Engage with experienced real estate agents or property consultants who can provide insight into local market conditions, potential buyers, and pricing strategies. Their expertise can help you make an informed decision about selling your house as-is.

Weigh Financial Implications: Consider the financial implications of selling as-is versus investing in repairs. Calculate potential repair costs, estimated sale price, and the impact on your net proceeds. Determine if the convenience of selling as-is outweighs the potential financial trade-offs.

Selling a house as-is can be a viable option for homeowners looking for convenience and cost savings. However, it’s crucial to carefully consider the potential drawbacks, such as a lower sale price and limited buyer pool. Assessing the property’s condition, seeking professional advice, and evaluating the financial implications are essential steps in deciding whether selling a house as-is is the right choice for you.

17 Feb 2021
By Kevin Gahagan

The Top Tips For Impressing A Potential Buyer At Showings

Mortgage

The Top Tips For Impressing A Potential Buyer At ShowingsFor those who are getting ready to put their home on the market, they want to make sure they get as much money as possible for their home. This means making a positive first impression. There is never a second chance to make a first impression. Therefore, homeowners need to make sure they do everything possible to “wow” potential buyers at open houses and showings. What are a few of the top tips that homeowners should keep in mind?

Listen To The Agent

Homeowners know their home the best. Therefore, they feel like they are able to show their home in the best manner possible. Even though they should have some input, homeowners are ultimately selling a building. They are not selling their memories.It is a prudent idea to listen to the agent. For example, the real estate agent may recommend staging the home in a certain way. The real estate agent may even recommend that he or she hosts the open house personally. Homeowners will need to listen to the experience of their real estate agent in order to have the best showing possible. 

Clean The Home Thoroughly

Homeowners also need to make sure they clean the home thoroughly. There is a high chance that the real estate agent may even recommend a cleaning service to scrub the house from top to bottom. Even though a potential buyer is probably going to clean the home after he or she buys it, nobody likes to see a dirty house. If there are any children or pets living in the home, try to eliminate all traces of them. 

Put Away Family Photos And Memories

Finally, homeowners also need to put away any family photos or personal items they have left out. When someone is looking for a new home, they want to envision what their life might be like in that home. This is going to be challenging if the current homeowner has family photos all over the walls. Remember, selling a home does not mean selling the memories in it. As a result, homeowners should try to put away their family photos and trinkets before the open house or showing. This will increase the chances of getting a great offer.

 

10 Sep 2020
By Kevin Gahagan

Does Your Home Have What Buyers Are Interested In?

Mortgage Tips

Does Your Home Have What Buyers Are Interested In?If you are looking to sell a home in the current market, then you know that the COVID-19 pandemic has changed the way many people look at the world and this includes their home.

Therefore, buyers need to think about whether or not their homes have what buyers are looking for. While this is a hot market and sellers could quickly end up with multiple offers for their homes, they are more likely to get a higher offer if their home has one of the key features that buyers in today’s market will love.

A Home Office

Without a doubt, this is one of the most popular features today. With the pandemic changing the way people work, workers are spending more time at home than ever before. Everyone is looking for a way to be productive at home and this means having a home office. A home office is essential because it gives those working remotely with a place where they can seclude themselves in their own home and be productive. At the same time, if there is an emergency, they can still respond quickly. Buyers today are looking for a home office.

More Space To Accommodate

Lots of families are looking for ways to accommodate their loved ones and this means more space. For example, many schools are still operating virtually. This means that the kids are at home during the day and will need their space. In addition, elderly individuals are particularly vulnerable in today’s environment, so many families have welcomed their elderly family members as well. Homes with the space to accommodate these desires are going to be more popular.

Powerful Internet Access

While this is something that can be adjusted if necessary, powerful internet access is important. Think about everyone who is going to be putting a drain on the home’s internet connection. People are streaming TV more than ever. Kids need to be able to pay attention to their lectures. Those working from home are going to have video conferences. Having strong internet access is a must.

Sell A Home With These Features

Anyone who is looking to get the most for their home should keep these features in mind. They can drive up a home’s value in the current market.  

23 Jul 2020
By Kevin Gahagan

The Healthy Home? Selling The Wellness Value Of A Home

Mortgage Tips

The Healthy Home? Selling The Wellness Value Of A HomeA study by the World Health Organization says that 90% of our health comes from where and how people live. Homeowners are paying more attention to wellness. These considerations extend to the home that they want to buy. Do you want to get a great price when you sell your home?

Go green and go healthy.

Going Green

Homebuyers are looking for more than just a quality home in a safe neighborhood. They also appreciate energy efficiency.

Energy efficiency includes new appliances that use less electricity, smart-home technology that manages usage and climate zones, and better insulation as well as new windows and doors. It also includes having a solar energy system to reduce monthly electricity costs.

Wellness Living

Wellness amenities include special lighting, sound systems, interior climate monitoring, plus air and water filtration systems. Newly-constructed homes are being advertised as being more healthy and perhaps extending the occupants’ lives. Older homes can be retrofitted with wellness systems to increase habitability and make them attractive to buyers.

Here are some wellness systems to consider:

  • Water Purification — Pure water for drinking and ice cubes with soft water for other uses is high on the list of priorities. The best water purification systems have micro-filtration combined with activated carbon filters. They are able to remove up to 99.999% of any contaminants.
  • Air Filtration — Hospital-quality air-filtration systems with HEPA filters remove dust, allergens, pet dander, bacteria, mold, and contagious airborne viruses.
  • Climate Monitoring — These advanced smart home systems constantly test the interior air for contaminants. The system will inform homeowners if any toxic chemicals are detected.
  • Circadian Lighting — Advanced lighting systems provide full-spectrum lighting that comes on automatically to mimic the natural light cycles of sunrise and sunset. These systems are especially helpful to improve the moods of occupants in areas that have dreary outside weather
  • Soothing Sound Systems — Sound systems can be fine-tuned to emit white noise and noise-cancellation frequencies to provide soothing sonics for interior spaces.
  • Home Gym — Having an exercise room with large windows and a nice view of the garden is a real plus. This room can also serve as a space for meditation.
  • Sunroom — A sunroom is an excellent choice for a home addition. It can be used to relax and get some vitamin D from the sunshine as well as be filled with living aromatic flowers for quality aromatherapy.

Summary

Having a home that is designed to both be energy-efficient and improve wellness is a trend that helps sell them as a wonderful living space that promotes holistic living.

03 Jul 2020
By Kevin Gahagan

Pros And Cons Of Completing Home Renovations Before Selling

Mortagage Tips

Pros And Cons Of Completing Home Renovations Before Selling

Whether you originally bought a fixer-upper or you’re just a homeowner who wanted to update their house, chances are you have seen your share of home renovations. Home renovations have the potential to greatly add to the value of your property, but they can also add to your own quality of life. Hopefully, you have completed your home renovations and gotten plenty of use out of them before listing your home for sale. 
If not, you may find yourself wanted to move before all the renovations are complete. What’s the best course of action? Should you put the time and money in to finish? Or should you cut your losses and list the home for sale? What are the pros and cons of completing home renovations before selling?
Pro: The Home May Sell Easier
Your real estate agent will be happier if your home is fully renovated. That’s because they know that the home may sell easier in a fully renovated condition. Of course, you could get a prospective DIY homebuyer eager to put their own “stamp” on the home, but that is nothing you can count on.
Con: You May Not Recoup The Extra Expenses
Not all home renovations equate to value-added improvements that you can count in your wallet. If your renovations are small things like replacing door hinges, patching a hole in the plaster, or stripping outdated wallpaper, you are unlikely to see an equal increase in what you can get for your home sale.
Pro: There Will Be Less Explaining
If you have finished the renovation, you have nothing to explain and no excuses to make to anyone. In the renovated condition, the home is what it is. Even if a prospective home buyer does not happen to like the new paint color you have chosen, they still can?t complain that it is old or worn looking. 
Con: You Will Need To Delay Your Listing
Home renovations can take up a lot of time, as you may know, if you have done a lot of them already. You will have to delay listing your home, which in turn will mean putting your moving plans on hold for what could be an extra month or two. Depending on your future plans, this could impact your child’s school entry date and more.
No one will force you to complete half-finished renovations. But consider these pros and cons before deciding how to proceed.

Whether you originally bought a fixer-upper or you’re just a homeowner who wanted to update their house, chances are you have seen your share of home renovations. Home renovations have the potential to greatly add to the value of your property, but they can also add to your own quality of life.

Hopefully, you have completed your home renovations and gotten plenty of use out of them before listing your home for sale. 

If not, you may find yourself wanted to move before all the renovations are complete. What’s the best course of action?

Should you put the time and money in to finish? Or should you cut your losses and list the home for sale?

What are the pros and cons of completing home renovations before selling?

Pro: The Home May Sell Easier
Your real estate agent will be happier if your home is fully renovated. That’s because they know that the home may sell easier in a fully renovated condition. Of course, you could get a prospective DIY homebuyer eager to put their own “stamp” on the home, but that is nothing you can count on.

Con: You May Not Recoup The Extra Expenses
Not all home renovations equate to value-added improvements that you can count in your wallet. If your renovations are small things like replacing door hinges, patching a hole in the plaster, or stripping outdated wallpaper, you are unlikely to see an equal increase in what you can get for your home sale.

Pro: There Will Be Less Explaining
If you have finished the renovation, you have nothing to explain and no excuses to make to anyone. In the renovated condition, the home is what it is. Even if a prospective home buyer does not happen to like the new paint color you have chosen, they still can?t complain that it is old or worn looking. 

Con: You Will Need To Delay Your Listing
Home renovations can take up a lot of time, as you may know, if you have done a lot of them already. You will have to delay listing your home, which in turn will mean putting your moving plans on hold for what could be an extra month or two. Depending on your future plans, this could impact your child’s school entry date and more.

No one will force you to complete half-finished renovations. But consider these pros and cons before deciding how to proceed.