Selling your house as-is can seem like an appealing option for many sellers (especially when you’re faced with an extensive to-do list). However, selling as-is can have an impact on the price you achieve for your home and the time it takes to sell.
So, what are the pros and cons of selling your property “as-is”?
There are some obvious pros to selling your house “as-is”, such as saving time and upfront costs. You can also avoid the stress and disruption of renovations. The main con is you will probably achieve a lower sale price. You may also have a limited buyer pool, so finding a suitable buyer can be harder and take time.
In this article, we look in depth at the pros and cons of selling your property “as-is” to help you decide how best to proceed.
If you decide the pros outweigh the cons, this article also covers how to sell your property as-is. Spoiler alert: the best way for you to sell will vary depending on your property and priorities.
If you’re considering selling your house as-is and want to find your perfect home selling method, I’ve designed a short quiz to help. Hit the link below to get started:
1. What does it mean to sell your house “as-is”?
Before we dive into the pros and cons, let’s clarify what it means to sell your house “as-is”.
If you’re selling your house “as-is”, it means you’re selling it in its current condition (warts and all).
It’s possible to successfully sell derelict houses, hoarder houses and houses with ongoing structural problems. The trick is finding the best selling method for your unique home in order to reach the right buyers.
Selling as-is can be a great option if you don’t have the time, money, or resources to carry out any work before you sell. However, it does come with some downsides.
Let’s take a closer look at the pros and cons of selling your house as-is…
2. Pros of selling your house as-is
Selling your property as-is can be appealing to many sellers, like those who have inherited a property or don’t have the time or resources to carry out lengthy repairs.
Let’s look at some of the benefits of selling your home in its current condition:
Pro #1: Save time and upfront costs
Selling a house “as-is” has the advantage of saving both time and upfront costs.
Decorating, renovations, and repairs take time.
For example, fixing ongoing subsidence can take over a year to resolve. Once you’ve factored in the time spent waiting on structural reports, gathering building quotes and negotiating with your insurance company, selling as-is starts to look like an appealing option.
Selling your property as-is means you get to bypass all of this and crack straight on with the selling process.
You will also avoid any upfront costs. Repairs and renovations can cost thousands of pounds, especially when you have to bring in professionals to carry out the work.
If you sell your home in its current condition, you won’t need to find the money for any home improvements or to pay the builder’s invoice.
However, you’ll need to weigh this up with the money you may lose in the long run, as it’s likely you’ll achieve a lower sale price.
Pro #2: Less stress, more convenience
Another massive pro to selling your house in its current condition is less stress!
Managing the logistics of house repairs and renovations can be a nightmare. You can expect to have to deal with a number of issues, such as:
- Finding skilled and competent tradespeople.
- Constant communication.
- Managing the project logistics.
- Finding alternative accommodation for the duration of the works…
- Or living amongst dust and chaos.
- Inevitable delays.
- Supply or labour shortages.
- Uncovering additional issues that need to be resolved.
- Increasing costs (and finding the cash to cover them).
- Even picking the right paint colour can take hours!
The list goes on…
Selling your house as-is allows you to bypass all the hassle and stress.
It’s not for everyone but selling as-is can be a great option if you prioritise convenience over achieving the best possible price.
We've designed a short quiz that will help you quickly determine the best way to sell your house based on your property and priorities.
Pro #3: Don’t have to carry out repairs
Unless you’re a DIY enthusiast, another major pro to selling your house as-is is that you don’t have to carry out any repairs.
Home improvements and repairs take time, money and can often seem more daunting than they actually are. We’ve all been guilty of putting off those DIY jobs around the house.
You can avoid the stress and hassle of carrying out the repairs and still successfully sell your home in its current condition.
Not all buyers are looking for modern, move-in ready homes. Developers, flippers, and certain owner-occupiers will be looking for a project which they can sell on for a profit or put their stamp on.
Quick and free solution: tidying
One way to quickly improve your chances of selling (which doesn’t involve picking up a paintbrush) is to tidy and clean your home before you put it on the market.
Unless time really is against you, tidying your home is a cheap and easy solution. It really can have a massive impact on the quality of your marketing pictures and success of your viewings, as it enables buyers to see the space on offer and your property’s potential.
Pro #4: Can walk away from a property
Selling a house in its current condition requires minimal involvement and allows you to move on quickly (if you pick the correct selling method for your property).
Sometimes the thought of maximising the potential of a property before putting it up for sale can be overwhelming and all-encompassing.
This can be especially true when you have inherited a house, for example:
- You may have grown up in the home, and so will have strong emotional ties to the property in its current condition.
- The property may be completely cluttered with items you cannot face sorting through.
- The property might be miles away, so it wouldn’t be feasible to carry out the work yourself.
In my experience, many of my readers in this position prioritise a certain, convenient, and simple sale. Selling as-is can remove some of the stress and enable people to move on with their lives.
Pro #5: Potential for a quick sale
The final pro to selling your house as-is is the potential for a quick sale.
Selling as-is means you can get the ball rolling straight away.
However, putting the house up for sale sooner doesn’t guarantee that you’ll achieve a faster sale overall.
If you do want to achieve a fast sale, choosing the correct selling method is really important – especially when you’re selling a property that needs some work.
Fastest way to sell a house as-is
The fastest way to sell a house as-is to sell to a house-buying company.
A reputable cash house-buying company can give you a cash offer within 48 hours and buy your house in as little as 2 weeks.
They buy all types of properties in all kinds of conditions (hence the term “we buy any house”) and will not be put off buying your house as-is.
The second fastest way to sell a house as-is is by auction.
Auctions offer a great balance between speed and price. You can sell your property in as little as 10-12 weeks, with much more certainty than selling on the open market.
If you want to discover the best way to sell your house as-is, I’ve designed a quiz to help with exactly that. Hit the button below to get started…
3. Cons of selling your house as-is
While selling a property “as-is” offers several advantages, there are also some disadvantages to consider.
Let’s take a look at the main cons of selling your property as-is…
Con #1: Likely to take a hit on price
One of the main cons of selling your property “as-is” is the potential impact on the sale price.
Since the property is being sold in its current condition, buyers are going to factor in the cost of repairs or renovations when making their offers.
Properties that require work tend to appeal to investors, developers, and flippers, who are known to seek out a bargain. Be prepared to negotiate on price.
Con #2: Lost opportunity (or is it?)
Another potential con to selling your house as-is is that it can feel like you’re handing over an opportunity to make a profit to someone else.
People don’t like feeling like they’re missing out, especially when money is involved.
So, selling a house in poor condition but with buckets of potential can feel counterintuitive.
However, if you can’t realise the opportunity - because you don’t have the time, resources, or money to fund the project - it was never an opportunity in the first place.
Con #3: Limited buyer pool
If you decide to sell your house as-is, your buyer pool is going to be limited for several reasons.
Firstly, many buyers will want a move-in ready home. This is true for lots of owner-occupiers, who may not have the time, spare funds, or expertise to carry out home improvements or renovations.
You may also be limited to cash buyers if your property is unmortgageable in its current condition.
It can therefore be harder, and take a lot longer, to find a suitable buyer for your property (unless you know where to find them…).
Con #4: Financing challenges
Selling your property as-is may make it impossible for buyers to secure a mortgage.
Certain issues, like ongoing subsidence, can make a house unmortgageable.
If you want to sell an unmortgageable house “as-is”, you are going to be limited to cash buyers. You are therefore wiping out a large percentage of buyers, so it can take a lot longer to find a suitable buyer.
Con #5: Can take a long time to sell (if you don’t pick the correct selling method)
Another con of selling your house as-is is that it can take a long time to sell. However, this can be avoided if you pick the correct selling method.
Selling a house as-is with an estate agent can be an arduous process, particularly if it is in bad condition or unmortgageable. This is because:
- It takes time. According to Zoopla, it takes nearly 6 months on average to sell a house with an estate agent. Houses sold “as-is” are likely to take even longer to sell because they have a limited buyer pool.
- The sale is more likely to fall through. Inexperienced buyers might get cold feet when they start to realise how much repair work is actually involved and pull out of the sale. According to our survey, a whopping 31% of estate agency sales fall through (but this figure is likely to be even higher when selling properties as-is).
- Inexperienced agents. Estate agents will not necessarily have experience selling derelict properties or “problem properties” and may end up putting buyers off.
If you want to discover the best way for you to sell your house as-is, you can take my free 60-second quiz.
You will not only receive personalised results, but also my personal, trusted contacts to companies I know and trust…
Con #6: You Still Have Disclosure Obligations
Just because you’re selling as-is, it doesn’t take away your disclosure obligations.
If you know of any problems with the property, you must make the buyer aware.
Because the property is being sold as-is, buyers are going to be on high alert and will want to understand the full extent of the problems so they can factor them into their offer. It’s therefore highly likely that buyers are going to get a survey on the property.
I wouldn’t recommend trying to conceal issues from prospective buyers, your estate agent or auctioneer. Some of the consequences of doing so are:
- Buyers might pull out. The discovery that you have tried to hide a problem can cause a breakdown of trust and may even cause the buyer to walk away from the sale.
- Negotiate a reduction in the sale price. It’s highly likely that the buyer will adjust their offer to take account of the issue, any remedial works and knock-on effect this will have on the future saleability of the property.
- Could face a misrepresentation claim. You could face a claim for misrepresentation if you tell a buyer there are no defects with the property in the Seller’s Property Information Form, and the buyer subsequently discovers there are issues and has suffered a loss as a result.
Now you understand the pros and cons of selling a house as-is, let’s now shift our focus to the practicalities of selling your house as-is…
4. How to sell your house as-is
If you decide the pros outweigh the cons, the next thing to consider is how to sell your house as-is.
There are three main ways to sell a house “as-is”: with an estate agent, by auction and to a cash house-buying company. However, not every selling method is going to be suitable for your property and priorities.
If you’re thinking about selling your house as-is, you will need to consider factors like the condition and mortgageability of the property, as well as your priorities. All three of these things will ultimately affect how you should sell your house.
It’s really important to pick the correct selling method when selling your house “as-is”. Your buyer pool is going to be limited, so you want to make sure you are marketing your house to the right people.
4.1 Best way to sell my house as-is
The best way to sell a house “as-is” will depend on the property’s condition and your priorities. You may need to explore alternative selling methods, like auction or house-buying companies, to get the best results.
When searching online for the best way to sell a house “as-is”, you are inundated with articles from estate agents, auction houses and house-buying companies all claiming to be the best way to sell.
Our website aims to provide a completely unbiased guide based on my years of experience helping homeowners in your position.
My goal is to help you find the best way to sell your house based on your priorities and property and connect you with leading property companies I know and trust.
I’ve written an entire article dedicated to helping you find the best way to sell your property “as-is”. You can read it here: “Can You Sell a House As-Is? [Discover Your Perfect Home Selling Method]”.
If you want to cut right to the chase and find out the best way to sell your property now, I’ve designed a short quiz.
Hit the link below to get started:
By Matthew Cooper, Co-Founder of Home Selling Expert