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Omid Akale Discusses the Pros and Cons of Selling your Home As-Is for Cash

Omid Akale

Omid Akale

GOLDEN VALLEY, MN, UNITED STATES, January 11, 2021 /EINPresswire.com/ -- Deciding to sell your home is already a process. And if there are existing issues with your home - a faulty roof or a cracked driveway for instance - selling your home “as is” can seem like a much easier and cheaper option than scheduling and paying for home improvements. While it’s true that selling your home as-is means that you won’t have to make any repairs to your home, Omid Akale - Certified Distressed Property Expert and Investor Specialist - advises readers that it’s not always the most practical or stress-free option.

Let’s take a look at the pros and cons of selling your house as-is so you can make a well-informed decision.

What Is “As-Is”? Omid Akale Explains
When you sell a home as-is, explains Omid Akale, it means that you are selling your property in its current state. There is a legal understanding that no repairs will be made to the home or grounds before purchase. You cannot just say the home comes “as-is” when you decide to sell. The buyer has to sign papers that lay out the terms of the agreement and that list exactly what issues and faults they are accepting “as-is.”

What “as-is” is not is a way to hide or fail to disclose the issues with your home or property. Selling your property as-is does not relieve you from all of the obligations that come with being a seller. You are legally obligated to answer buyer questions honestly and to lay out everything you know about the existing problems with your home.

Every state has its own laws concerning what and how exactly you have to disclose in an “as-is” purchase. But in most states, you are legally obligated to answer questions concerning the property honestly and fully even if you are not required to disclose details upfront.

Omid Akale Addresses the Most Common Cons of Selling As-Is
One of the most common cons of selling your home as-is is the negative perception attached to the definition. Most buyers assume that you are selling your home as-is because there is something seriously wrong with the property that you cannot afford to fix or - worse - that is not fixable.

Because of this perception, you’ll likely receive a lot of low-ball offers on your property when selling as-is warns Omid Akale. When buyers see you as “desperate” they’ll assume they can get a better deal. This means that the majority of offers put on your house will likely be well below asking - and possibly less than your home is actually worth.

The Pros of Selling Your Home As-Is According to Omid Akale
In some cases, selling your home as-is is the best possible move. If you truly cannot afford to make the necessary repairs, for instance, selling as-is is likely your best option. Likewise, if you are truly unable to deal with the stress of a home sale, says Omid Akale, selling as-is may be an excellent option.

If you are serious about selling your home as-is, you may want to consider selling to an investment company that specializes in distressed properties, suggests Omid Akale. You’ll make a much quicker sale and they’re more likely to understand the true value of your home than the average market buyer.

Caroline Hunter
Web Presence, LLC
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