Selling a Salt Lake City home is a challenge; mainly, people are concerned with two things:
- Price of the house
- The time it takes to sell the Salt Lake City house
You don’t want to set a high price because then you’ll lose maximum exposure and probably customers. A low price affects your profit margin. The most important thing is to know how much you get to keep after the sale. Regardless of the sale price, you need to know how much you will gain from the sale.
Let’s say you sell a house for a competitively high-price, i.e. $500k, but you have to spend $75k in property repairs. That’s not profit when you consider the time and effort that goes into a remodeling project. Considering this scenario, we’ll discuss here tips for selling your Salt Lake City home as-is.
Conventionally, you’ll sign a contract with your realtor. The agent will have the exclusive rights to sell your Salt Lake City home for the next 3-6 months. Now sometimes, you can wait for 3-6 months. However, we don’t always have the luxury to wait. In case of a foreclosure, divorce, or financial difficulty, we need to act fast. We need quick access to cash.
Selling in the retail market requires you to make repairs. Do a cosmetic makeover. Enhance the curb appeal, hire a photographer, and the list goes on. It is an exhaustive list. That’s why if you are short on time or money, we recommend you sell your Salt Lake City home as-is.
Benefits of Selling Home As-Is
- An as-is sale saves you money.
- Spending on repairs can get you in debt. You can pay off your mortgage (and other debts earlier) by executing an as-is sale of the property.
- Selling as-is is extremely helpful for people who have inherited a house. When dealing with the loss of your loved one, you don’t want to tackle repairs or cosmetic makeover. Consider selling home as-is so you can resolve the matter at the earliest.
How to Sell Home As-Is in Any Market?
Get your home inspected before you put it for sale. You’ll get to know any problems that can hinder the purchase later on. An inspection report also helps with pricing.
Disclose issues with the house
By law, sellers are required to disclose any defects related to the property. It is a must to inform the buyer about the problems such as:
- Structural Damage
- Mld/Termite Problems
- Asbestos Presence (Mostly present in old houses)
- Title issues
- Plumbing/electric problems
You don’t have to report minor repairs.
Get an Estimate for Repairs
The next thing is to know how much will it cost to repair the house. Think from the point-of-view of a buyer. What will they have to do to make the home livable?
You can contact general contractors in your area for an estimate. The estimate will show you how much time and money it will cost to repair the house. If feasible, consider repairing the home yourself. That way, it will be easier to sell the Salt Lake City property in the retail market. However, don’t break the bank. It’s best to sell the home as-is when repairs are expensive.
Sell Home to a Reputable Cash Buyer
If you are looking to sell Salt Lake City home fast, you can contact a reputable cash buyer in your area. Consult a Real estate solutions company as they can guide you regarding your choices.
There are benefits of selling to a house buying firm. The most obvious advantage is that you’ll get cash, so there are no delays because of mortgage approval. Cash buyers can complete the sale within 7-10 days, and there are no inspections to be tackled on your part. The purchaser will assume the risk and will buy the house as-is. You don’t have to pay for commissions, repairs, inspections, or appraisals. Your home will be sold in the next 7-10 days.