Recs for as is buyers

[Anonymous]

We are trying to sell my parent’s home in silver spring. as is. Will need work. Any recs?

[Anonymous]

You'll still have to fill out disclosures unless it's an estate sale. Don't lie on the disclosures like the sellers of our as-is home did (they said the basement didn't leak).

[Anonymous]

Spend a little bit on a fresh coat of paint in a neutral color--as your realtor for advice. It will photograph so much better and get people in the door. No need to fix anything else though.

[Anonymous]

Empty out the house, clean, paint and only fix any safety issues. It will sell quickly since inventory is so low.

[Anonymous]

Anonymous wrote:You'll still have to fill out disclosures unless it's an estate sale. Don't lie on the disclosures like the sellers of our as-is home did (they said the basement didn't leak).

did you get an inspection?

[Anonymous]

Anonymous wrote:Spend a little bit on a fresh coat of paint in a neutral color--as your realtor for advice. It will photograph so much better and get people in the door. No need to fix anything else though.

Agree with this. It makes a huge difference.

[Anonymous]

If you don’t know, as-is doesn’t mean they can’t have an inspection contingency or negotiate for money back for things they might find (we bought an as-is house with an inspection contingency and asked for 20k in repairs which was granted) - didn’t know that was an option as a buyer. Usually just means the seller won’t make repairs themselves. But in this market it may not be competitive for a buyer to have an inspection contingency or ask for $ for repairs.

[Anonymous]

Fix anything major, paint the walls and trim and replace old carpets with new, cheap carpets. Replace old lighting with new, cheap lighting and the same color bulbs throughout.

The painting will be the most expensive part.

[Anonymous]

Declutter and remove most of the furniture but ensure each room has a defined purpose with the furniture layout.

[Anonymous]

Without more information it is very difficult to give an answer. When you say it needs work do you mean typical DCUM the kitchen is 15 years old and must be gutted because it is insufferable or it needs a new roof, HVAC is not functional, etc.?

[Anonymous]

thanks all. Careptting is old, kitchen is hideous, bathrooms are dated, and basement is unfinished. Any recs for as-is buyers?

[Anonymous]

Anonymous wrote:thanks all. Careptting is old, kitchen is hideous, bathrooms are dated, and basement is unfinished. Any recs for as-is buyers?

What’s under the carpet? Original hardwood? And what is the price range of the neighborhood?
We are in Silver Spring and homes around us go between 500-600 if they are well-updated. Around 450 if they need a lot of work. I would get the place professionally deep cleaned and painted. You can replace carpet with LVP if it is not salvageable. The rest depends on how much energy you want to invest. You can ask an agent for the as-is estimate and then decide if you want to do anything further.

[Anonymous]

In my area outside DMV, the way some try to handle this is to offer cash at closing. I don't know how this helps but maybe people just apply it to the down payment? We saw one house like this and it was really ugly. Eventually the price had to be cut by more than the offered cash.

My parents' house is like this. Clean and safe with some new mechanicals but ugly with old wallpaper, carpet, and appliances. They now want to spend a fortune remodeling it with old person taste. I think they should just sell when they are ready however it is. My upscale realtor friend agrees. Sell as-is, priced right.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You'll still have to fill out disclosures unless it's an estate sale. Don't lie on the disclosures like the sellers of our as-is home did (they said the basement didn't leak).

did you get an inspection?

Yes, we did. One of the kids locked the front door so our inspector had to crawl through a kitchen window, but we got it done. It was a sunny day in a sunny week.

[Anonymous]

Anonymous wrote:If you don’t know, as-is doesn’t mean they can’t have an inspection contingency or negotiate for money back for things they might find (we bought an as-is house with an inspection contingency and asked for 20k in repairs which was granted) - didn’t know that was an option as a buyer. Usually just means the seller won’t make repairs themselves. But in this market it may not be competitive for a buyer to have an inspection contingency or ask for $ for repairs.

This was our experience, mostly. We had an inspection, then we made a bid based on a combination of the listing price and what we think needed to be fixed, like the roof, AC, and so on.