Can I Sell My House As Is In Colorado?

SOLD sign with defocussed street of houses in background

Selling a house in Colorado can be excruciating when you know you have to fix lots of things before you can even think about listing it. Maybe the roof is leaking, the air conditioner is broken, of the windows are old and cold.

NO MOTIVATION TO MAKE REPAIRS

There is no motivation to fix the leaking roof or deal with the finicky plumbing. Especially because your just selling it for someone else to enjoy. PLUS if your like me, you hate spending your hard earned cash!

Repairs cost lots of cash!

With the added cost of inflation, repair costs have skyrocketed in Colorado. All over the country, really. Another significant stress factor is what happens if you make repairs but don’t recoup your costs! That would be terrible!

And that is why more people are choosing to sell their house in Colorado as-is. And guess what? You can sell your house as-is in Colorado too!

This article is about selling your house to a Colorado home buyer looking for fixer-upper discounts, flippers, and real estate investors so you can sell the house as is with the best margins possible.

Table of Contents

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Sell Your House As-IS In Colorado
We Want To Buy It!

 We-Buy-Houses-Fast-For-Cash-ColoradoDo you want to sell your house as-is in Colorado? We will buy it! 

No repairs, No closing costs; you pick the closing date, and we pay cash for your home. Don’t spend any money when selling to us. 

Follow this link for a fast cash offer to sell your house in Denver, CO, as-is  FOR FREE.

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Common Approaches to Selling the House As Is

Listing the House As Is on Your Own – For Sale by Owner (FSBO)

In this approach, you offer it for sale directly without enlisting the services of a broker or a real estate agent. This means you will deal directly with the buyer or the buyer’s agent. You will be involved in marketing the listing, staging the home and negotiating the offer and terms of sale.

FSBO listing means you avoid paying commissions or closing costs and fees to real estate agents, which typically range between two to six percent of the sale price. (The buyer’s agent, if they have one, is still entitled to their commission).

The sale process is also faster through FSBO, especially if you sell to a friend or relative. According to the National Association of Realtors (NAR) findings, the median time FSBO homes stay in the market is two weeks. When the seller knows the buyer, the houses are not even listed for a week. On the other hand, agent-assisted sales take an average of three weeks.

On the flip side, the NAR warns that you might make less through FSBO despite avoiding commissions and closing costs. The average income for FSBO sellers sampled for the survey was $86,500, while the agent-assisted sales were $102,900.

Some fees come with FSBO listings like marketing, advertising, execution of legal documents and the buyer’s agent commissions. These will substantially reduce your savings by avoiding the agent and should be factored in before choosing this approach.

Your listing might also lack the impact of a seasoned real estate agent with better resources and expertise for enhancing curb appeal and staging the home. You may not be visible to the potential  buyer with the best offer. The more work the house needs, the more you should work on the listing.

Selling the House As Is Using a Listing Agent

Top-notch listing agents are well versed in local trends in the housing market and are famous among potential buyers as they have carved a niche in the real estate business. They are also professionals in staging photos capable of stopping browsers in their tracks and writing killer descriptions on the listings.

They will price the home optimally and help negotiate and evaluate offers when the time comes. Engaging an agent also frees you up to meet and greet potential buyers.

Their commissions vary from agent to agent and may cost you a pretty penny. When you are still in the interviewing phase, you want to ask about their expected commissions in advance. When contemplating this expense, you should also factor in the buyer’s agent commissions. Do the math before engaging the agent.

Holding a House Auction to Sell Your House As Is

Engaging an auction company allows you to get the best price possible for your house from the interested buyers. They will not ask for concessions from you, and the option takes away negotiations, repair costs and a lot of technical work that you might otherwise find yourself having to do for the sale to be successful.

Auctioning is aimed at creating buyer competition. There are no bidding limitations at a house auction, and the bids might go way beyond the house’s market value. Because it is not an absolute auction, you retain the right to decide if the final bid is acceptable, so you should have a predetermined lowest price in mind from the onset.

You don’t disclose this price before bidding because it may limit your offers. This type of home auction is called a reserve auction. As you consider your selling options, it is important to keep apprised of the different types of real estate auctions that are available for your application.

Selling to an Instant Buyer (iBuyer)

This is arguably the fastest way to sell the house as is. iBuyers purchase houses online with the intention of selling them at a profit.

You sign up on their online platform and upload a description of your property. They utilize automated valuation models with customized algorithms to determine the house’s worth and make offers instantly. Within a couple of days, you get the offer from your iBuyer, which often includes perks such as moving allowances.

By selling to an iBuyer, you avoid resource-consuming processes like engaging real estate agents, subjecting the property to an expensive appraisal, and having to endure an open house. You don’t need to be subjected to judgment and commentaries on your housekeeping skills while you are in the room.

The iBuyer is always aware of the prevailing market trends, so they will typically offer a price below the homes value or market price to provide for flipping it later. Therefore, their offer prices are lower than the market price, and you will only have their single offer to consider.

They will send an inspector to examine the property once the offer is accepted, so you should state clearly that you are selling the house as is and declare all repairs that need to be done. They will deduct the cost from the final amount you will get.

While it is a great bargain when moving as fast as you can is your priority, the profits are limited as you sell to a reseller or real estate investor with superior market awareness.

Selling to a Cash Buyer

Cash buyers are more flexible regarding the appraisal value; you don’t have to worry about whether the financing will fall through or if the mortgage undertaking process will take longer. If you take financing out of the equation, closing the sale is much easier.

Cash offer buyers mainly purchase homes off-market, so you need to approach them instead of waiting for them to come to you with their cash offer.

The success of any of these strategies is hinged on variables like the type of property, its location, the purchasing power of the local community and the nature of competing listings if they exist.

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Why Would You Sell Your House As Is?

Some buyers might be scared off by the state of the house, and some lenders will not even consider lending to purchase a house that is in disrepair. It also considerably reduces the offer price on the house, depending on how bad the situation is. Despite all this, there are circumstances under which you should still sell the house as is.

You Don’t Have Time for Necessary Repairs

Contractors require time to execute repairs, whether they are necessary or minor repairs. You might be moving because of a work assignment that requires you to report immediately. Some necessary repairs are also long-term projects that you may not want to endure.

There Is No Money to Finance the Repairs

Even minor repairs can prove to be costly and might even interfere with the sales budget. You want to avoid going into debt so you can sell the house at a slightly higher price.

When Selling the House As Is Makes More Mathematical Sense

Sometimes the repairs required are cosmetic, and buyers don’t see it as too much trouble as long as they get a better deal than what is on the market. Lowering your asking price slightly below the market price will drive more traffic to your listing despite the state of the house. The difference your final selling price has with the market rate can be surprisingly lower than the cost of repairs.

Preparation for Selling Your House As Is

As much as you can now justify why you opted to sell the house as is, you still need to optimize the sale to maximize returns. This requires preparation and anticipation of possible bottlenecks.

Conduct Your Own Independent Inspection Before Listing

This will give you an estimate of how much work needs to be done to restore the property and the cost of repairs needed before a home sale. It also exposes the nature of these repairs; some repairs can be relatively cheap and easy to execute when weighed against their impact on the house’s outlook, and you might opt to do them.

It also helps in the accurate declaration when you are listing the house, so you don’t get sued for failure to disclose serious defects or lose great buyers when they discover shortcomings that were missing from your listing.

Survey Similar Listings in the Locality

This helps establish the going market price, which will help you set your own asking price for a potential buyer. You will also catch a glimpse of the state of competing properties which helps to anticipate the buyers’ reaction when they view your house. You can use this to discount your asking price based on the required repairs.

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Your Solution to Selling Your House As Is

If you want to sell your house as-is, without spending any money, In Denver, the front range, or anywhere in Colorado then follow this link for a fast and fair cash offer. 

WeBuyHousesinDenver.org is a cash for houses company and we are experts at buying houses in Denver and all of Colorado. Our mission is to give the people of the Mile High city the best solution to sell any house.  When you sell your house to us there are:

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There are even more benefits when you sell a house to  WeBuyHousesInDenver.org including:
  • Sell your house as-is (no repairs)
  • Pay nothing out of pocket
  • Sell fast – you pick the closing date
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This is how selling a house in Denver should be!

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