Selling a house as-is can be an appealing option for anyone facing financial difficulties or time constraints. You may have purchased the home with intentions to fix it up but just never had the time to update the kitchen or replace the roof. Maybe you’ve owned the home for years or inherited the property, and minor house repairs have just been piling up. Whatever the situation may be, fixing up a house to sell can take a while and be expensive. It’s hard for many people to justify putting more money into a place to turn around and sell it, which makes selling as-is an attractive alternative. But what is selling a house as-is? Are there pros and cons to selling a home as-is? What would the process look like, and who buys houses as-is in Utah? We’ll cover all these questions and more to help you decide if selling as-is in Utah is the best option for you.
Can You Sell Your House As-Is In Utah?
What is Selling A House As-Is?
When selling a house as-is, the property is being sold in its current condition. Any buyer interested in the home understands that they are purchasing the residence in its existing condition, and asking for major house repairs or renovations before closing isn’t part of the agreement to buy the place. That being said, it does not mean that you don’t have to be upfront about any issues with the house. Utah does have some disclosure laws so you will still need to fill out a disclosure form and honestly state any conditions you are aware of regarding the property. So if there is a leaky roof, water damage to the basement or crawl space, or mold, you will be obligated to share this information.
Reasons Why to Sell a House As-Is
There are plenty of reasons to sell a house as-is in Utah. The two big reasons are due to cost and time. Major house repairs and renovations are expensive, and if money is tight, it can be hard to come up with the cash to pay for these improvements. Here is a list of some of the typical repair costs for reference.
- Roof Replacement – $5,800- $7,400
- New HVAC- $3,200- $12,000
- New Water Heater- $1,000- $3,000
- Foundation Repair- $450- $11,000
- Termite Damage- treatment $540+, fixing termite damage $7,000
- Fix Water Damage- $2,300
- Repair or Install New Pipes- Repair for a sewer line averages $2,400, for a drainpipe- $560, and installing new pipes averages $1,050
- Electric Issues- Average about $320 for repairs, but can cost up to $15,000 for rewiring
- Septic System Repair- average $1,400
And these are only for repairs; this doesn’t include updating a house. Here are some typical remodeling costs to get your home to current standards.
- Kitchen Remodel – $6,000- $30,000
- Bathroom Remodel – $5,000- $25,000
- New Flooring – $1,700- $3,200
- New Siding- $6,800- $12,000
- Replacing Windows- $400- $800 per window
Something else to keep in mind is the time it would take to have these major house repairs or renovations completed. Some of these renovations can take months to complete, as well as coordinating and scheduling contractors to make the improvements. For many people taking on a project like this can be stressful and expensive, especially if you’re looking to sell quickly. The amount of time and cost makes anyone interested in selling their house as-is in Utah.
Pros and Cons of Selling a House As-Is
There are some pros and cons and cons of selling a house as-is to be aware of. Of course, the pros are avoiding the hassle of hiring a contractor, paying for major house repairs and renovations, and waiting weeks or months to sell. Also, you won’t have to come out of pocket or take out a loan to make these improvements.
The cons, though, would be price and lack of interest by potential buyers. When selling a house as-is, the price is typically reduced to account for the major house repairs that will still need to be done by the buyer. Either way, you look at it, though, ultimately the repairs will cost you, whether that be if you pay to do them before you sell or if you sell as-is.
The other con is the lack of interest by prospective buyers. Buyers typically are not looking for fixer-uppers. It’s hard for buyers to see the value in homes that need a lot of work. That being said, there are some buyers out there that want to purchase properties as-is.
Finding The Best As-Is Homebuyers in Utah
One such buyer in the Utah area is CashQuickBuyers. They are an as-is home buying company that purchases houses in any condition, even properties with fire damage, termite damage, major house repairs, or unfinished construction. What sets them apart from traditional buyers is that they pay in cash. Regular buyers use bank financing that obligates them to bank contingencies, including clear home inspections. Since they have the money to purchase your home, they also can close within 7 -14 days, which is fantastic if you want to sell quickly. They are the perfect buyer for anyone looking to sell their home as-is in the Utah area.
The As-Is Home Selling Process
The beautiful thing about selling your home as-is to a buyer like CashQuickBuyers is that you don’t have to get anything ready. All you have to do is contact them, share details about your property, get a cash offer within 24-hours, and then schedule a closing date. The only thing you will have to worry about is packing up your belongings and moving out. Cleaning isn’t even necessary; CashQuickBuyers will take care of that. Selling as-is to CashQuickBuyers is super easy compared to other selling options.
If you are curious about what other selling strategies would look like, here are some steps to other as-is selling processes.
Sell A House As-Is With a Utah Realtor
Step 1: Find a Utah Real Estate Agent
Do some research and interview a few local real estate agents to determine which one you’d like to work with. Working with a top agent isn’t a bad idea, because that means they have a good reputation for selling houses. But being a top agent means they are busy with multiple listings, so make sure you ask how much time they will be dictating to your home sale. Using an agent that isn’t’ as busy may be helpful, but they may not have as much sales experience.
Once you narrow down your search for a realtor, you will need to find out their listing agreement. Typically, agents have you sign an agreement giving them 3-6 months to sell your home and to pay a seller’s commission of 2.5%-3% upon the sale of your home. If your home’s sales price is $320,000, you would be looking at paying $8,000-$9,600 in seller’s commissions. If the buyer uses an agent to purchase your home, there will also be the buyer’s agent fees to contribute to as well, which cost 2.5%-3%. So you would be looking at several thousand dollars being owed on agent commissions- potentially $16,000-$19,200! (if the sales price is $320,000).
Although a real estate agent will handle most of the selling process, which is nice, selling with an agent does not guarantee a fast home sale. The average time it takes to get an offer in Utah is 50 days on market, and that may be longer for you since you’re trying to sell a house as-is.
All things to keep in mind and information that real estate agents won’t tell you.
Step 2: Declutter, Clean, and Stage
Okay, so you may be selling your house as-is, but that doesn’t mean you shouldn’t declutter and clean up a little bit. When selling with a realtor, you will still want to make the house look presentable to potential buyers. Although you may have some major house repairs needed around the house, storing extra items wouldn’t hurt. Areas to declutter would include closets, attics, basements, and garages. Ideally, you want these areas to be organized and easy to access, so if these places are full of items storing some of the things in a storage unit would be a good idea.
After you’ve done some organizing and decluttering, don’t forget to clean around the house. Even though your home may be outdated, having a clean place to show prospective buyers is always a good idea. Clean all the rooms, vacuum carpets and rugs, sweep and mop, make sure to clean the windows and straighten up the yard. Also, don’t forget to clean high contact areas like doorknobs, light switches, countertops, and stair railings. This is especially important during covid-19 to sanitize these areas before and after showings.
Once all the cleaning is done, doing a bit of staging wouldn’t hurt, although you’re selling your house as-is. Staging helps traditional buyers see the potential in your home and can be helpful to reduce the number of improvements they will need to do after purchasing the property. Paint any rooms or walls that have bright or taste specific colors with neutral colors. Rearrange your furniture to help create extra space and put any personal photos away. Adding some curb appeal also wouldn’t hurt. Mow the lawn, trim overgrown shrubs, power wash the house and walkways, plant some flowers, and touch up any exterior paint. You can always hire a handyman to help with some of these projects. Although you’re selling as-is, small touches go a long way in helping your home to sell.
Step 3: Wait For An Offer To Come In
When working with an agent, most of the selling process is handled by the realtor, but as mentioned above, they have no control of how long it takes to sell your home or the Utah real estate market. By decluttering, cleaning, and staging your home, you are doing everything you can to sell your home as-is; besides that, you will need to wait until an offer is made on your property.
Step 4: Officially Sell Your Utah House As-Is
Once you get an offer from a traditional buyer, there will be an escrow period of 30-60 days for the buyer to get financing approved and have an inspection done on the home. Though they are buying the home as-is, they will still want to know what is going on with the property and what type of repairs will be needed. They can also use this information as a way to re-negotiate the price.
After you settle on a price and accept their offer, you will both agree on a closing date. When you both agree on a date, you will need to hire a moving company and start packing, don’t forget to clean the place when you leave. The next thing you need to do is head to the closing or sign closing documents and officially sell your house as-is!
Sell A House As-Is in Utah By Owner
To save some money on the seller’s agent commissions, another selling strategy would be to sell by owner. Selling by owner is pretty similar to selling with an agent, but you will be in charge of the entire process. Below are what the steps would look like when selling by owner.
Step 1: Set A Competitive Asking Price
This will be tricky to figure out since you will be selling your house as-is in Utah. Usually, you can figure out a reasonable asking price by looking at what other homes have sold for in your neighborhood, but it will be a bit more challenging since you are selling as-is. The easiest way to figure out what your listing price should be is to hire a real estate appraiser. An appraiser will look at other comparable properties that sold in the area and take into account all the major or minor house repairs that need to be made to your home. To hire a real estate appraiser in Utah usually costs $250-$400 but will give you an accurate estimate for your home’s value. Once you get that information, you will need to figure out a marketing strategy.
Step 2: Figure Out a Marketing Strategy
After you determine a listing price, you will need to figure out a marketing strategy that will sell your home. You will need to purchase a for sale sign, figure out websites to list your property to, and write a captivating description about your home.
Step 3: Declutter, Clean, Stage
Just like selling with a realtor, selling by owner will obligate you to get your house ready to sell. Although you are selling as-is, you should still declutter, clean, and stage the home. You can always hire a professional cleaning service, organizer, stager, or handyman to help you out. Each will probably cost you several hundred dollars but would help get your place ready to sell.
Step 4: Sell Your House
Next, you will need to get ready to answer questions, phone calls, schedule showings, and talk to agents. You will need to do everything you can to sell your home. This can also include hosting open houses and printing out listing flyers. Be prepared to give up weekends to have open houses and always keep your house clean to accommodate random showings.
Step 5: Wait For An Offer
Once you’ve done everything you can to sell your house and accommodate any prospective buyers, you will have to patiently wait for an offer on your home. Keep in mind when you do get an offer; if the buyer is using an agent, you may still be obligated to pay a buyer’s commission of 2.5%-3% of the sale price. So you may be out a few thousand dollars although you are selling by owner and handling all aspects of the selling process. When you receive an offer, you will need to be prepared to negotiate with the buyer or buyer’s agent on price.
Step 6: Accept an Offer and Sell Your House
Once you receive an offer and negotiate the price, you will need to find a real estate attorney and title company to close on the property. A real estate attorney will help you look over the contract, and the title company will handle the closing arrangements. Be prepared to pay a few thousand dollars for their services as well. After that’s all squared away and a home inspection by the buyer is done, you can complete the closing process and sell your house. Make sure to hire a moving company or rent a moving truck and pack up your belongings. After you officially move out, you will need to clean the house before handing over the keys to the new owner.
Conclusion:
Surprisingly, selling as-is isn’t as easy as you would think. Although you would be saving money upfront on repairs, you will still need to pay realtor commissions and accept a reduced amount for your home to cover the buyer doing the renovations.
Selling by owner is another alternative but does take quite a bit of work, and you may still be on the hook for paying a buyer’s commission.
Ultimately, when selling your house as-is in Salt Lake City or surrounding areas in Utah, working with a local home buyer like CashQuickBuyers would be an excellent option for you. You wouldn’t have to pay any commissions, service fees, or closing costs. Decluttering, cleaning, and staging is not necessary. Usually, they ask to see photos of the home or schedule one showing with you, but that’s it.
Selling to cash home buyers like CashQuickBuyers is the easiest way to sell a house as-is in Utah. Avoid the stress, hassle, and uncertainty of selling your home and sell to CashQuickBuyers today.
If you’re interested in getting a free cash offer within 24-hours, click here. Or for more information about CashQuickBuyers and their home buying process, visit their website for more details. We buy houses all over Utah, contact us today to see how we can help!