Silver Spring, MD Home Seller FAQ: Why shouldn't I sell my house as-is?
When you are getting ready to put your Silver Spring, MD home on the market, quite a few decisions have to be made: from choosing a brokerage & listing agent to showing instructions, from whether or not to allow listing syndication and 3rd party evaluations to filling out the property disclosure or disclaimer, from staging to whether or not you should list your home as-is.
As-is means that what the buyer sees, is what the buyer gets. You won't be replacing that 40 year old furnace or that stained carpet nor put in new triple pane windows. What it does not mean is that electrical, plumbing, mechanical items can be non-functional or inoperable.
Per the Maryland Residential Contract of Sale "All electrical, heating, air conditioning, plumbing (including well and septic), and any other mechanical systems and related equipment, appliances and smoke detector(s) included in this Contract shall be in working condition." (page 4, #21)
At first glance an as-is sale might seem like the most convenient solution for you, the seller. But once you consider the above paragraph, is it really? As-is doesn't mean including all broken down equipment - unless you can get the buyer to agree to strike the above paragraph.
Think about what message you are sending to the buyer as well: an as-is will always raise a red flag with buyers and buyer's agents alike.
They will walk into your home expecting to find (a lot of) things wrong with it and if nothing immediately stands out, they might wonder what you could possibly be hiding. Some will not even bother looking at your home because they expect problems, maintenance issues and/or a home in need of upgrades.
By checking that one little box, sold as-is, you could be losing out on the buyer, the one that could be bringing you the highest and best offer!
As a side-note, negotiations don't necessarily stop when the Contract For Sale is ratified. A counter-offer can be made to the buyer's repair request (you could offer to repair a few of the items or offer a credit instead) and you also have the option to declare the contract null and void if no mutual agreement can be reached.
Silver Spring, MD Home Seller FAQ: Why shouldn't I sell my house as-is? Because even an as-is comes with stipulations and because you don't want to raise a red flag and want to sell for highest and best.
*Blog post intended for informational purposes only. Consult an attorney if you are in need of legal advice*
When you are getting ready to put your Silver Spring, MD home on the market, quite a few decisions have to be made: from choosing a brokerage & listing agent to showing instructions, from whether or not to allow listing syndication and 3rd party evaluations to filling out the property disclosure or disclaimer, from staging to whether or not you should list your home as-is.
As-is means that what the buyer sees, is what the buyer gets. You won't be replacing that 40 year old furnace or that stained carpet nor put in new triple pane windows. What it does not mean is that electrical, plumbing, mechanical items can be non-functional or inoperable.
Per the Maryland Residential Contract of Sale "All electrical, heating, air conditioning, plumbing (including well and septic), and any other mechanical systems and related equipment, appliances and smoke detector(s) included in this Contract shall be in working condition." (page 4, #21)
At first glance an as-is sale might seem like the most convenient solution for you, the seller. But once you consider the above paragraph, is it really? As-is doesn't mean including all broken down equipment - unless you can get the buyer to agree to strike the above paragraph.
Think about what message you are sending to the buyer as well: an as-is will always raise a red flag with buyers and buyer's agents alike.
They will walk into your home expecting to find (a lot of) things wrong with it and if nothing immediately stands out, they might wonder what you could possibly be hiding. Some will not even bother looking at your home because they expect problems, maintenance issues and/or a home in need of upgrades.
By checking that one little box, sold as-is, you could be losing out on the buyer, the one that could be bringing you the highest and best offer!
As a side-note, negotiations don't necessarily stop when the Contract For Sale is ratified. A counter-offer can be made to the buyer's repair request (you could offer to repair a few of the items or offer a credit instead) and you also have the option to declare the contract null and void if no mutual agreement can be reached.
Silver Spring, MD Home Seller FAQ: Why shouldn't I sell my house as-is? Because even an as-is comes with stipulations and because you don't want to raise a red flag and want to sell for highest and best.
*Blog post intended for informational purposes only. Consult an attorney if you are in need of legal advice*