Can I Sell My Kansas City House As-Is Or Should I Repair It?
Here’s the scenario: Your house has been on the market for several months with no buyer in sight. You lower the price a bit, hoping to attract a prospect. You finally find a buyer who is interested in your house. There’s just one catch: They want you to repair or upgrade the house before they’re willing to buy it.
You do what they ask, hoping to seal the deal. The problem is that you’ve spent too much time and money on repairs. When you add in the realtor commission and closing costs, you’ve barely broken even or gone in the hole with your sale. If this sounds like your situation, read below to learn how you can sell your house as-is in Kansas City, MO.
What Does It Mean to Sell My House As-Is?
To understand what an as-is sale is, you need to understand what a traditional sale is. Let’s compare the two:
Most people who sell their house do a traditional sale. They list their house on the market. Afterward, they typically follow these steps:
- Hire a realtor to sell the house on their behalf
- Make the necessary repairs/upgrades to make the house sellable
- Market the house to get the word out
- Show the house to several prospective buyers
- Negotiate the sale with a potential qualified buyer
- Close the sale and get out of the mortgage
A traditional sale can typically last 60 to 90 days. That doesn’t include the time you spend getting the house ready to sell and the closing process after you find a buyer.
Selling Your House As-Is
In a cash sale, you work directly with a professional local home buyer in Kansas City - no real estate agent. The buyer pays cash to buy your house as-is. As you can see below, the steps are much simpler.
- You show the house to a single pre-qualified buyer.
- The buyer makes a fast cash offer.
- You accept the offer and schedule a close date.
- The buyer closes the sale and gives you a check.
If you notice, you eliminate all the steps in a traditional sale. You do not have to hire a realtor. You do not spend time and money making repairs. You don’t have to wait several months to sell the house. In fact, you can typically close in one to three weeks.
Why It May Not Be Worth It to Repair Your House
Before you decide to sink thousands of dollars to repair or upgrade your house there are some questions you should ask yourself.
What’s the State of the Real Estate Market?
No matter what condition your house is in, who your competitors are, or how much money you sink into repairs, everything hinges on the market - specifically, the real estate market around your house. If you live in a part of Kansas City where home values are plummeting, spending money on repairs may not pay off.
Who Are Your Competitors?
Currently, the real estate market is red hot. That means that sellers are unloading their properties in just a few days. However, what the market is not telling is the profile of these sellers. Most sellers who sell their homes in ‘days’ have homes that are ready to move in. If your house needs work before anybody will look at it, you will need to spend thousands of dollars to compete in the market.
What’s Your Return on Investment (ROI)?
You may hear these reports that a kitchen remodel can boost your home’s value by $20,000 or a new garage door can add $3,000 to your resale value. But what happens when you sink the money for a house that doesn’t give you the value you expected simply because of the market? Furthermore, what if you don’t have the cash available for these types of projects?
Consider Your Current Situation
Something else you need to consider is whether selling your house as-is will help you get out of your current situation quickly and without consequence. For example, you may be going through one or more of the following situations:
- Bad tenants
- New job/relocation
If so, you may not have the opportunity to do a traditional house sale. A cash sale allows you to sell your house right now as-is instead of spending the next few months fixing, marketing, and selling your house. It also allows you to get out of sticky legal problems like bankruptcy and foreclosure with your finances and credit intact.
Contact Kansas City Cash Closings to Sell Your House As-Is
If you need to sell your house fast and don’t want the hassle of listing it on the market, contact Kansas City Cash Closings. We buy houses as-is. No repairs or upgrades are necessary. Call 816-608-4713 to get a fast cash offer.