Selling Your Property 'AS IS'? Watch This First!

What does it mean to sell AS IS?
This is one of the most commonly asked questions. There are lots of misconceptions about selling your home AS IS, so let me walk you through this difficult topic.
Every Real Estate purchase contract in California is automatically an ‘AS IS Sale.” However, this is rarely heeded by the buyer.
Right after you accept an offer and your home goes into escrow, the buyer will be doing a general home inspection. The inspector may refer the buyer to contact specialists such as Electricians, Roofers or Plumbers to further investigate various issues.
Once all inspections are done, chances are the buyer will want the seller to repair items that are
unexpected. It’s then up to the seller to decide if they want to repair the items, give the buyer a credit so they can repair these items later, or simply say NO.
So which strategy is best? Well, it depends on a couple factors:
1. How major or minor is the repair? Was this truly a surprise to the buyers?
2. How many offers did I receive and How much leverage do I have?
Once a problem has been discovered in the home, its your duty to disclose it to all subsequent buyers. So, will this issue affect all the other buyers, or just this one? Are other buyers begging to be the backup offer, or is your current buyer the only taker? Has the market gone up or down since we went into escrow?
These are the conversations I have with sellers all the time. Don’t be surprised when a buyer submits a Request for Repair - despite what they said at the time of the offer. It’s a very normal step in selling your home. Know that in the end, our goal is to Maximize Your NET BOTTOM DOLLLAR, and we’ll tailor a strategy to accomplish this.
MIKE DOYLE | DRE 01758185
☎️949-322-9934 📧 [e-mail]