On my ALL ABOUT REAL ESTATE live radio show today, a caller wanted to know about the cards, letters, flyers, and emails stating, "we will buy your house, no commission, and no repairs." There are some "real-looking" letters.
Her question was about selling a home "AS IS" and asking my opinion.
After talking about the two ways of selling a home as-is in our Maryland contract, I proceeded to ask for her description of her home.
Why did she feel the need to " unload the house." She went on to describe the property as a two-story home, only having three bedrooms, one bath, an unfinished basement, no central air, and an older kitchen. She was only telling me what she perceived as the negatives. With more questions, I found out the roof was only five years old, replacement windows, and there was a free-standing two-car garage, which she quickly told me did not have electricity. I asked if the house was livable. Her answer was, of course. My suggestion was to have a professional Real Estate agent evaluate the property, doing neighborhood comps, but with just her information, I suggested some marketing.
Without seeing the house (only the owners kind-of- negative description), I suggested the way to advertise this home would be something like this.
"Single-family colonial home with three bedrooms, and a full lower level ready to finish, one full bath, replacement windows, 5-year roof, and a bonus two-car garage!"
The price would reflect the condition in comparison to the neighborhood. This home, to me, sounds perfect for first-time buyers who can do any future updates as they "grow into the house." For someone handy who would enjoy putting in a new kitchen. And that garage has so many possibilities, to park cars, it would make an excellent workshop, playhouse, a hobby area, an artist's studio, a place to work on cars and bikes, etc.
Without seeing this home, it does not sound like an "AS IS" property ready to be sold for cash, with no repairs and no commission.
And that was a radio caller.