As of the end of 2023, the average price of an American home is around $417,000, which means that if you sell now, you’ll make a pretty penny. But of course, it’s not as easy as it seems.
For one, you’ll have to fix up your house. Otherwise, you may not get any interested parties. Or if you do, they won’t pay much for your property.
You can always sell your house as-is, especially if selling your house fast is a priority. How much do you lose selling a house as-is though? Find out here.
How Much Do You Lose Selling a House As-Is?
If you were expecting a hard number, then think again. You obviously won’t make as much as on a traditional sale, but there are many factors that determine the difference.
Here are the main ones to consider.
The Condition of Your Property
If your property is in poor condition, then it’ll require significant repairs or updates.
On top of that, you’ll have to also consider the cost of those repairs and updates. If the cost is high relative to the market value of your property, then you may have to lower the price accordingly to attract buyers.
Market Conditions
The state of the real estate market in your area can influence how much you might lose. In a seller’s market, the demand is high, and inventory is low too. Buyers may be more willing to overlook issues with the property and pay closer to your asking price.
On the other hand, in a buyer’s market with more properties available, they’ll have more options. This means they may negotiate for a lower price if they determine that your home needs lots of work.
Location
The location of your property can impact how much you might lose too. Properties in desirable locations may still attract buyers despite being sold as-is, whereas properties in less desirable areas may face more challenges.
Where you are in the nation will matter, but the exact location will play an important part as well. For example, if your house is near excellent amenities and attractions, then buyers may be less inclined to negotiate a lower price.
Realtor Use
Selling your house with no realtor is definitely feasible, and it’ll save you some money. A realtor isn’t always best for every home sale situation, and it certainly isn’t for an as-is sale.
You can often work directly with the buyer to complete the sale. And since you won’t have to do staging or other extra work, you won’t need a realtor’s help.
Try Selling Your House As-Is If Needed
There’s no simple answer to the question, “How much do you lose selling a house as-is?”
However, if you take the above factors and apply them to your unique situation, you’ll have a better idea of what to expect. Doing research and due diligence before listing your property is always a good idea, so don’t skip those steps.
If you want to learn more about real estate, then keep reading our blog page.
