Before calling your local real estate agent and getting locked into lengthy selling process, you owe it yourself to weigh all of the options on the table. There are countless Real Estate investment companies in every single city who buy and sell homes in 100% as-is condition without any pesky inspection rider paperwork.
Inspections not only slow down the buying and selling process of a home but many times there is absolutely no reason to have them when selling a home that is need of repairs or grandma/grandpas house that hasn’t been updated since 1955.
Trading equity for speed and convenience is the mutual understanding with these sales from buyer and seller. Both parties agree there is a substantial amount of work that is ahead for the new owner of a property that is being sold as-is and simply run a repair/rehab budget on the property itself as well as what the property can expect to sell for in the current market conditions. Those will change over time thus will an investing companies offers they make. Some companies will put a 3 day timeline on an offer they present to a seller in order to protect both parties in the event of a new property closing in the area or a sudden market change that can happen for number of reasons.
As-Is means As-is. Selling a property in as-is condition means it is to be sold as seen on whatever day the offer to buy it was made. Many homeowners think they need to get their own dumpsters and start cleaning out all their old junk or items that are scattered through out the property. That is not the case for most real estate investment companies. These companies expect there to be items left behind and often partner with local estate sale companies and junk removal companies to handle the items left behind. Sometimes there are only a few bigger items left behind, other times these as-is properties have been full to the ceilings with years with stuff. Either situation is understood when assuming a property condition when buying as-is condition.
Inspection’s often cost an average of $400.00 depending on the company who does it and takes several hours to complete. Not to mention there will be a waiting period before they come out. Once inspected, depending on what the inspection reveals you may be legally obligated to disclose parts of the inspection to the potential buyer. Inspections aren’t a one size fits all. Just like appraisals, inspections are subject to the experience level of the company/inspector conducting the inspection and they aren’t all the same. Some times they miss things and other times they may be over critical of things that aren’t of concern. Just keep that in mind if you go the inspection route.