Hey guys! Brad here with Norton Home Solutions coming at you today with a question I commonly get asked. “What are the Pros and Cons of Selling My House As-Is in Kansas City?”
That’s what we’re going to tackle on today’s post… Let’s get started with the PROS.
PROS of Selling Your House As-Is in Kansas City
1. Fewer Up-Front Cost
Typically, when you go to sell a property with a real estate agent, they’re most likely going to walk the property with you and point out what needs to be updated and repaired in your property. For instance, in the house in the video above, I would probably repaint the walls, the popcorn ceiling is sagging so I’d scrape that all & repaint it. Maybe some new flooring in here as well. And quickly the dollar signs start to add up.
2. Quicker Time to Market
So with selling your house as-is in Kansas City, you only have to go through one home buyer making the right offer instead of buyer-after-buyer coming through and looking at your property with their agent, hoping that they get you close to where you want to walk away with.
3. Easier to Sell Quickly
Assuming that there’s no issues or problems with the title of the property, we at Norton Home Solutions, should be able to purchase a property within two to four weeks because we buy houses in Kansas City As-Is and with cash. Meaning there’s no waiting for bank loan approvals, or going through inspections and requests for repairs.
4. No Hidden Costs
If you’re selling with a real estate agent you’ll have to account for your seller’s agents commission, the buyer’s agents commission, closing costs, title fees, and property taxes. There’s a bunch of hidden fees that range anywhere from 8% – 12% of your bottom dollar.
CONS of Selling Your House As-Is in Kansas City
1. Sell The Property At A Lower Price
Because you’re not making the updates or repairs that the house needs, you have to account for the person buying it from you to have that as a cost and expense on their end. Remember you want to sell the house As-Is because repairing and updating a house can cost a lot of money, is time-consuming, and is overall a lot of work. You are basically trading the hassle of renovations onto the buyer in the form of a discount on your property.
2. Many Low-Ball Offers
A lot of the people that are going to be willing to buy your property as-is are probably investors that have to make the numbers work for them, and that means they have to come in at a lower price. Each investor has a different risk tolerance or dollar amount they feel will be needed to repair or renovate your house. Some investors in Kansas City can get a renovation done at a lower price than another and typically a newer investor will be spending more on renovations because they’ll run into more mistakes due to lack of experience or they don’t have the resources to get a job done at a better price.
3. Banks Will Not Loan on a Property That Needs a Lot of Updates and Repairs
There are loan packages out there that will give a buyer a loan on properties that need work, but you have to go through a lot of underwriting, hoops and hurdles just to get approved for that. But across the board, typically, banks will not loan on a property that needs a lot of work
4. Fewer Buyers When Selling Your Property As-Is
A majority of home buyers don’t want to have the hassles of repairing and updating a property that they just purchased. They want something that they can turn the key, walk into and call it home. If your goal is to attract a lot of buyers and sell your house for Top Dollar, your best option is to invest the time and money into fixing & renovating the house yourself and listing the house with an agent.
And there you have it! Those are the pros and cons of selling your house as-is in Kansas City.