One of the biggest advantages of selling to a cash buyer is that I can sell my house as-is. This means I can sell my home without needing to update or renovate, without doing expensive repairs or redecoration, and I can even sell an inherited home without having to go through the painful process of clearing it out first.
Selling a house as-is for cash also means you can sell a non-mortgageable property, such as homes of non-standard construction or homes with significant problems like subsidence, damp or cladding issues. Cash buyers don’t need a mortgage, and so they can consider properties that other buyers can’t.
Table of Contents
So what does it mean to sell my house as-is? Why would I want to sell my house as-is? And what repairs should I consider before selling if I don’t want to sell my house as-is?
What does it mean to sell your house as-is?
Selling my house as-is means just that – selling my home exactly as it stands today, warts and all, without doing anything to it to make it market ready. It might seem like the easy option, but it will usually make it much more difficult to sell in the traditional way.
Selling my house as-is on the open market
It can be a tough sell to sell my house as-is. Most traditional buyers expect a property to be presented at its best, with all problems rectified, before they’ll even consider it. There are plenty of other properties on the market, and if they find any problems with my property, either when they view or in their survey, they’ll quickly move on to an easier, problem-free purchase.
That doesn’t mean that I can’t sell my home as-is on the open market, but it does mean that I will have to wait much longer to attract a buyer, and even when I do I’ll probably have to accept much less for the property than I would if it was in good, modern condition. This reduction is likely to be even more than what it would’ve cost me to do the work, as the new owners will usually factor in the mess and inconvenience involved into their offer.
Selling a house as-is to a cash buyer
Fortunately, most cash house buyers will consider any home in any condition. This means I can sell my house as-is fast, without any of the frustration or expense of selling a problem property on the open market. This can usually offset a lot of the price reduction that I would expect when selling my house as-is fast to a cash buyer.
If you’re wondering ‘how much I could get if I sell my house as-is to a cash buyer?’, click the cash offer calculator button below for a free, no obligation estimate.
Why would you want to sell your house as-is?
Here are just a few of the reasons why I might want to sell my house as-is:
Out-dated properties
With so much competition, buyers will expect my property to be modern and well appointed, with a good quality bathroom and kitchen at the very least. Any other whistles and bells that I can add, will help to give me an advantage over competing houses.
Of course, updating can be very expensive. Checkatrade estimates that a new bathroom costs around £7,000 and even the smallest replacement kitchen will cost at least that. If I can sell my house as-is, I can avoid these costs, but it means I won’t attract many buyers for a traditional sale.
Non-mortgageable properties
Even if a buyer can see past the problems with my property, their mortgage lender may not. If a buyer cannot arrange a mortgage, then I can’t sell my house as-is. There are a number of reasons why a property may be un-mortgageable in the UK, including:
- No kitchen or bathroom
- Non-standard construction – eg timber, thatched, cob, system-built properties (plus exterior cladding issues after Grenfell Tower)
- Japanese knotweed and other invasive plants
- Flood damage
- Mining / sinkholes / subsidence
- Severe damp, wet or dry rot
Repairs to consider prior to selling
If I decide not to sell my house as-is, then there are a number of repairs and renovations to consider that will make it easier to sell. These range from simply smartening up the place to updating the bathroom and kitchen, and even converting the space inside and out to maximise the value.
Making it presentable
Unless I want to sell my house as-is, I will need to undertake basic repairs and redecorating. This includes fixing up any hard-worn or tatty areas inside and out, from flooring to wallpaper and paintwork, from tidying the garden to fixing that creaky gate and the fence that’s falling apart. These may all be little jobs but together they can add up to a big bill.
Updating the key areas
When it comes to choosing a home, most people will make their decision based on the bathroom and the kitchen, so it’s important to get these areas right. Research by Zoopla suggests that a new kitchen can increase the value of your home by up to 15%, while a bathroom makeover can add 3-5% to the value.
Extending inside and out
The same Zoopla research suggests that a loft extension or garage conversion can add 15% to the value of your home, while converting some of your garden to off-road parking can add as much as £50,000 to the value, especially in urban areas. Even just taking out an internal wall to create open-plan living can add 3-5% to your home’s value.
Selling a vacant property as-is
Vacant possession is a positive selling point in the short term, but a property that’s been empty for a while will put buyers off.
If you’ve inherited a property, chances are it’s stood empty for a long time while probate and other legal issues have been resolved. This can cause smells, problems with damp and leaks and many other issues such as vandalism and even squatters. These will all put buyers off.
At the same time, buyers do prefer to buy homes that are ready for them to move in, so I would need to arrange a house clearance if I want to sell my house as-is when I’ve inherited. This can be a very painful process if the relative was close to you, but it’s the only way to sell on the open market.
By choosing a cash house buyer, I can sell my house as-is, even if it is still full of Grandma’s nick-nacks and nasty net curtains, and it still has that hideous print of the blue lady on the walls. If I sell my house as-is to a cash buyer, they’ll take the property as it stands and arrange for house clearing and cleaning themselves, leaving me free to walk away with my inheritance cash in the bank.
How to spot a reputable buyer
A reputable cash homebuyer will be happy to consider any property in any condition, so if I want to sell my home as-is fast, I won’t have to spend a penny to prepare it for the sale. If I’m honest about the issues, they will offer a fair price from the start and if they’re trustworthy, they should not drop this price or haggle after a survey, like a traditional buyer would.
You can spot a reputable buyer because they will:
- Never ask you to sign a contract
- Never insist that you use their solicitors
- Always have proof of funds available to buy properties
- Be verifiable with Companies House
You can find out more about how to find a reputable cash house buyer by reading our helpful guide, or you can find out how much you could get for your home, as it stands, by clicking the cash offer calculator button below. You don’t need to give any personal details and there’s no obligation to proceed, so you’ve nothing to lose.
Expert Insight from Kelvin Elliott
Kelvin Elliott, founder and buying director of myhomebuyers.co.uk explains the benefits of selling a property as-is to a cash house buyer.
“If I wanted to sell my house as-is, then the best option would be a cash house buyer,” he explains. “We buy any house companies do exactly that, buying any home, in any condition, even if it’s un-mortgageable under normal circumstances. This can solve a number of problems that stop people from selling their home and moving on with a fresh start and cash in the bank. I will get a little less for my home from a cash buyer, but then it’s unlikely that I’d ever be able to sell my home as-is at the full price on the open market anyway, and I may not be able to sell it at all.”
Will a cash buyer really buy my house as-is?
Yes, they will buy your home whatever the condition, from those that need minor repairs to homes with major problems.
How much would I get if I sell my house as-is to a cash buyer?
The cash house buyer will take the condition into account when agreeing a price. This means that their offer will not change when they do a survey, as it often does with a traditional sale.
Can I sell my home as-is if it is un-mortgageable?
Yes. Cash house buyers do not rely on mortgages to buy properties, so they’re able to buy a far wider range of homes than most buyers, even those that would not be considered by most mortgage lenders.
Do ‘we buy any house’ companies really buy any house?
Yes, any house in any condition, regardless of the state of the property or its history. They will consider homes that even the most imaginative, open-minded traditional buyers would not take a risk on.
Can I sell my house as-is if it’s empty?
Yes, Cash house buyers will not be put off by the problems that build up in an empty home. They will even organise house clearances on your behalf to save you the hassle and heartache.
Conclusion
It’s a big ask to try and sell my house as-is, on the open market, without spending endless time and money making it market ready. Selling a house as-is to a cash buyer makes it so much simpler to sell, especially for run-down or problem properties, or if you simply don’t have the money to invest in your home right now.
The first step is to see what you could get for your home, as-is, from a fully vetted cash house buyer. Just click the button below to see where you stand.