There are a number of reasons why you would need to sell your house fast in Lexington, KY. It may be due to a last-minute employment relocation, financial difficulties, or a personal issue. If you lack the funds or simply do not have the time, the best option for you might be to sell your house “as is” in Lexington, KY.
What does it mean to sell your house “as is”?
Selling a house “as is” means you are listing the property in its current state, without making any repairs or renovations before going to market. Depending on the state of your property, this may result in a lower price.
In Kentucky, sellers of residential property are required by state law to disclose to prospective buyers certain defects with their home that could impair its value. Especially when you are planning to sell a house with damages, it is crucial that you reveal any existing problems with your property with the buyer or the buyer’s agent.
Pros and cons of selling “as is”
There are a number of things to note when selling your home in Lexington, KY, such as the pros and cons of your chosen selling method.
When selling “as is”, the benefits include saving money on repairs since updating older houses can cost up to tens of thousands of dollars. In addition, this would let you experience less stress because you don’t have to deal with the process of renovations.
Meanwhile, there are also downsides. As mentioned earlier, depending on the current state of your property, selling “as is” will definitely give you proceeds lower than market value. Also, since most buyers are looking for turn-key or move-in ready homes, your property might spend more time in the market since this shrinks down the buyer pool.
If you have no choice but to sell your home “as is”, here are some steps that you need to take.
- Find a real estate agent – To have a better idea on the process of selling your home “as is”, you might want to enlist the help of a local real estate agent. They can give you advice on whether this is the ideal route to take and how to combat any negative connotations that potential buyers may have.
- Book a pre-listing inspection – This step gives you a clear idea of the current state of your home and lets you be entirely transparent with the buyers and helps to protect you against liability.
- Low cost, high impact repairs – Although you might be sure about not doing anything on your property, you might want to consider just a few simple repairs that could have a significant impact on the sales price and how quickly you get an offer.
- Set a competitive price – Your list price should reflect the condition of your home and be attractive for buyers who are happy to spend some money fixing it up. It is crucial that you effectively price your home as this will dictate how long your property will stay in the market.
- Have realistic expectations – Because the buyer pool is a lot smaller, be ready for your property to spend some time in the market. It is also important to understand that your property will definitely take a hit in sales price.
Another option that you can consider is to sell to a cash home buyer in Lexington, KY.
RYLO Homes is a no-nonsense house buying company that offers cash for houses. If you need to sell your house fast in Lexington, KY for cash, we’re local home buyers serious about buying your house. No repairs, no inspections, no agents, no fees, no commissions.
Our process does not involve getting pre-qualified by a bank in order to obtain a mortgage loan to purchase your property or wasting your time listing the property on the MLS, Zillow, Realtor.com, or any other listing platforms. The reason we are able to move so quickly on the purchase of your house is because we use our own CASH MONEY to buy the property, which means the sale is more secure and we can close faster.
To find out more about our unique and alternative ways to sell your house fast in Lexington, KY for cash, call us today: (502) 317-8553.
