By Linda Chuss

Contributing Writer

 

A homeowner considering selling might think it’s critical to first make cosmetic improvements or kitchen and bathroom updates. The inconvenience, time, and money to render the home flawless can be overwhelming. They may delay putting it on the market until at least some renovations are completed. While there is a culture of buyers who only look at pristine homes having the latest amenities, many others will gladly purchase a home with shortcomings.

Nina Sable, a real estate agent with William Raveis in Natick, explains, “Some buyers have to be near work, family, or a school, so can’t be flexible regarding location. In a higher priced area, a home needing work suits that buyer. And in today’s environment, with few homes for sale, more buyers will purchase a property that doesn’t meet their ideal, and then update it.” There are also buyers with a vision who look forward to doing the projects that will make a place their own. For buyers who appreciate value, after getting anything crucial to be functional, they can spread out other improvements over time, which spreads out the cost too.

Knowing this pool of buyers exists helps alleviate concerns about selling a home in as-is condition. In layman’s terms, as is means a buyer should not expect price concessions or corrections for problems found during inspection.

Sellers appreciate not having to renovate. Living in a home that’s undergoing work – even simple interior painting – is inconvenient and stressful. Homeowners may lack the needed funds, time, or experience. Sable said, “There are people whose financial responsibilities have gotten ahead of them. Whatever their reason, I can sell their home in its current state, and they’ll still make money.”

Selling a home without making updates is particularly helpful for absentee owners. “Sometimes an owner will have to move out before they have a chance to sell, like when a senior transitions to an assisted living facility,” said Sable. “Remote landlords, people who inherited a house, people who have to relocate quickly for work – in these situations, owners often want to sell their home as is. They can turn the keys over to me and I’ll have the house cleaned, prepped, listed, and shown, all without the need for the owner to be there.”

Sable uses specialized marketing, explaining, “It’s more than just listing it and having an open house. I reach out to agents looking for buyers interested in as-is offerings. My social media is targeted. I focus on the beautiful bones of the home.”

Not all sellers are realistic about their home’s condition and the effect on its valuation. Sable shared, “Because their home suited them perfectly for decades, they may not recognize the work needed, and could be put off. There’s no stigma around selling a home as is – rather, it signals to buyers there’s an opportunity to customize.”

There are a few considerations in selling a home that needs some renovation. When sold as is, it will not command the price for an equivalent, impeccable one. Yet even if an owner improves their home before putting it on the market, there is no guarantee the selling price will be high enough to recoup the investment. An as-is home will likely stay on the market longer. However, getting it into top shape before listing it could also add months to the process. 

Sable welcomes the chance to talk and work with homeowners who are contemplating selling but holding back because of their home’s condition. She advises, “You are more likely to regret waiting than moving forward to whatever is next for you.” To reach Nina Sable, call her at sw(508) 733-8935 or email [email protected].

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