Five Things to Know About Selling As-Is in the D.C. Metro

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Today we’ll talk about as-is sales. Plenty of sellers in the D.C. Metro area ask us if they should sell their property strictly as-is, and it’s a great question. First, I’d like to put it in context.

In the D.C. Metro area and the suburbs, 95% of all transactions are conducted with the seller working with his or her own agent as a representative, so this is a role we frequently play in our business and a service that we offer to sellers. We strategize with the seller from beginning to end. The question of the as-is sale will be brought up early. We feel this question has five components to it:

1. Can I put the house on the market without any repairs or changes? Can I sell just the way it is?
2. Should I make some repairs that I know need to be made? For example, if there’s a leak in my roof, should I do something about it right now?
3. Should I set aside money for future repairs? Problems requiring repair could occur down the line after we have a contract with the buyer.
4. Should we advertise the home for sale as-is?
5. When it comes to the contract, should we require as-is language being in the contract? Meaning, should we have an as-is clause in our sale contract?

Of course, the answer to these questions will vary based on the seller and the seller’s needs and the nature of the house. Here’s how we answer these questions.

Whether you know it or not, when your house goes onto the market, it’s in a price war and a beauty contest. Buyers will compare it to similar properties in the same price range and area, and the condition will have to measure up to sell well.

We suggest making repairs you think you need. At some point, you’ll probably have an inspection. It’s better to have those items done up front. Even still, the inspector may find issues you couldn’t, which is why it’s good to have some money set aside to address these repairs. When we reach this point it means we have a contract, and we don’t want it to fall apart due to a minor repair issue.

Advertising as-is and requiring as-is language in a contract are very individualized issues. Houses that are sold strictly as-is from the start often command less money, which is never our goal.

I hope this discussion has been helpful to you. Remember, we’re here at any time to provide guidance or answer any questions you may have. Just send an email or give us a call!