Can I Sell My House As-Is In Colorado?
Do you have a house you want to get rid of without fixing anything? Are you trying to sell it without taking on repairs or paying out cash to contractors? If this is you, I am happy to tell you that you can sell your house as-is in Colorado. But that’s not the whole story.
Selling your house is a huge undertaking. Making repairs is a significant part of that. That’s why you want to sell your house as is. I get it. But there are lots of factors you need to think about. And that is why I wrote this article for you.
How To Sell My House As Is In Colorado
This is a complete guide on how to sell your Colorado home as-is. By this, I mean without spending any money fixing it up. Not even during the inspection. If you want to make sure you make the right choice by selling as is, you must keep reading. I’ll cover the following:
- What does as-is mean in real estate?
- How much do you stand to lose?
- Situations when selling as-is are a good idea.
- Times when selling not fixing stuff might not be the best choice.
I have bought and sold many houses as is in Colorado. It’s my job. I’m a real estate professional. Because of this, I have some valuable insight that I will share with you today.
For example, I have included what to do when “bad buyers” use scare tactics to make you fix stuff or reduce your price. You can learn more about me here. Or get on with it and learn how to sell your home in Colorado as-is.
Shall we continue?
Solution To Sell Your House As-Is Colorado [Fast]
You can sell your house with NO Repairs in Colorado. We will buy your house as-is because we’re a local home buyer who wants to buy your home. Fill out the form to get a legitimate cash offer to sell without making repairs for a 100% FREE quick and easy sale.
Table of Contents
What Does it Mean to Sell My House As-Is In Colorado?
Selling your house as-is in Colorado means you will not fix anything before you sell your home. That means you won’t be repairing any of the following:
- Leaky roof
- Broken furnace
- A water heater that doesn’t heat water
- Funky electrical wiring
- Cracked windows
- Or even cleaning!
When you sell your home as is, you don’t fix anything. It’s pretty hard to do because “Bad Buyers” will try and pressure you (more on this later).
But you want to sell as is. Therefore:
- You don’t fix anything before you list your house.
- You don’t make any repairs during the inspection.
- You sell your house in the condition it is in right now.
That is what it means to sell your house as-is in Colorado.
Selling without repairing anything on your property means you don’t spend any money fixing it up. And this happens quite commonly for several good reasons. We’ll touch on this shortly.
WHAT YOU SEE IS WHAT YOU GET!
In a traditional sale, the buyer will expect everything to be perfect. During the inspection, a buyer will negotiate for the sellers to pay for stuff that needs to be repaired. Maybe there is a cracked outlet cover they want to be replaced. If you sell your house traditionally, you might have to fix that. In an as-is sale, you wouldn’t.
Of course, you can change your mind. If you want to sell your house fast and have it under contract, you may decide to fix a few things. That is your call.
But remember that any repair you make will cost you cash. Spending cash reduces the money you walk away with. If you sell as is, you are trying to save as much cash as possible.
How Much Do I Lose When Selling My House As Is In Colorado?
The amount of money you lose when selling your house in Colorado will vary. There are lots of factors involved. These factors can include the following:
- The condition of the property.
- The local real estate market.
- Time of year.
- The number of cash buyers in your neighborhood.
- The sale price you agree upon with a potential buyer.
Let me give you a few examples to highlight how the house’s condition can change how much you would get when selling as-is.
Case Study 1: House Needs To Be Completely Renovated
You must sell your house in Denver, CO. It needs a complete renovation, including windows, electrical, plumbing, and roof. To sell it for top dollar, you must completely gut the house and install new bathrooms, ceilings, and a kitchen sink. Once renovated, the house would sell for $600,000. However, if you sell it as-is, you will only get $300,000 cash.
So does this mean if you sell your house as is, you will lose $300,000?
Absolutely not. And this is why.
The renovation described might cost you $200,000 or more! It could take you a year. Think of all the opportunities lost. Think of all the holding costs like:
- Insurance.
- Property Taxes
- Market conditions changing
- Utilities and more!
Estimate How Much I Would Lose When Selling My House As-Is In Colorado
Because of all the factors above, it is hard to fully understand how much you stand to lose if you sell your house as-is. It is a fact, though, that when you sell your home without fixing anything, you will have to sell it for less than top dollar.
When selling a house and not fixing anything, you may need to price it lower than you would if the property was in better condition or if you were willing to make repairs. The amount you may lose will depend on the difference between the as-is sale price and the price you could get if the property were in better condition.
It isn’t easy to give an estimate without knowing the specifics of your property and the local real estate market. It may be helpful to consult with a local real estate agent or a professional to get a better idea of the value of your property in its current condition and the potential loss you may incur by selling as-is.
Alternatively, you can talk to us if you want to sell your house as-is, and it is in Denver or anywhere in Colorado. You can find out exactly how much we will pay in cash by completing our online form. You can complete our online form and talk to a local Denver cash home buyer here. There is no obligation to sell your house to us. What do you have to lose?
If Renovations Cost So Much, How Do Fix and Flip Investors Make Money?
The truth is many fix-and-flip investors don’t make money. Only a select few home-buying companies in Denver and Colorado know how to do it right. To be successful in flipping houses, there are several key points, including:
- You have to buy the house for the right price.
- Being organized and efficient is paramount.
- Understanding how much renovations cost is essential.
- Knowing what to fix to add value.
Buying and selling fixer-uppers is a harsh industry to be in. I have lost money on several deals. One house, I lost over $30,000! It can be even more complex when housing markets change, as recently in Denver and over the Front Range.
Can Buyers Inspect My House When Selling As-Is In Colorado?
BUYERS CAN STILL INSPECT “AS-IS” HOUSES; HOWEVER, BEWARE THAT THEY MAY TRY TO NEGOTIATE THE PRICE.
When you sell your house in it’s current state, the buyer still has the right to inspect the property. I have sold many homes as-is, and the buyer checked out the house first.
As a Colorado cash buyer, I buy houses as-is all the time. Even though I purchase as-is, I still like to do a walk-through. The walk-through helps me know what I am getting into. It also helps me estimate how much the rehab will cost. Then I can tell you exactly how much cash I can pay for your house.
Of course, some not-so-good home buyers will try to get you to fix stuff. Or, more commonly, try to renegotiate the price unfairly.
WHY WOULD THE BUYER ASK ME TO FIX STUFF WHEN I ADVERTISED I WOULDN’T FIX ANYTHING?
I see it all the time. I see cash buyers get Denver houses under contract. Once under contract, they do the inspection. Then the buyer will try to scare you into lowering the price.
These “bad buyers” are using psychological tactics to get you to cave in. They believe you will be so focused on selling the house at this point that you will agree. Don’t make this mistake! Hold your ground.
During their inspection, they will exaggerate the cost of repairs. Often these buyers will exaggerate the severity of cracks or structural issues. These buyers are scams. It would be best if you walked away.
Are There Any Legitimate Colorado Cash Buyers Who Will Buy My House Without Me Making Repairs?
I know of at least one legitimate home-buying company that will buy your house as-is in Colorado. That company is WeBuyHousesInDenver.org – That’s us!
When we inspect your home, we will not exaggerate repairs or employ scare tactics. Our cash offers are fair, and our inspection process is transparent. We encourage you to get estimates from other contractors. By getting other contractors to quote you, you will see that we are legitimate home buyers.
Should I Sell My House Without Fixing Anything In Colorado?
Just because you can sell your house as-is in Colorado doesn’t mean you should. Therefore it begs the question: Should you sell your house as-is in Colorado?
Selling your house as-is in Colorado is much faster than doing prep work before selling. So if you need to sell your home fast, don’t get bogged down with many repairs and renovations. But whether you should sell your house as-is depends on the situation.
There are some situations where selling your property as-is makes total sense. Some of the scenarios where it makes sense include:
- You are behind on payments, have no cash, and want to sell your house before the bank forecloses.
- The bank has already foreclosed, an auction date is set, and you want someone to buy out your house so you don’t lose all your equity.
- Probate houses are potentially run down, need lots of costly repairs, and are a huge hassle to deal with. Plus, you have to spend heaps of cash to get it ready to sell.
- The same goes for inheritances and inherited properties.
- Out-of-state owner – be it a rental or investment property, inherited house, or you had to move for a job relocation. Trying to get it fixed up and sold from out of state is a nightmare! The only thing scarier would be if you had a ghost in your house!
In all these situations, you need to sell your house fast, you don’t have the cash to make the repairs, or you can’t monitor renovation costs because you are not local. Because of this, it would be a good idea to sell your house as-is in Colorado.
When Is It A Bad Idea To Sell My Colorado House With Broken Items?
It never is a bad idea to sell your house as-is. However, sometimes, simple repairs could help you get much more cash. Let me give you another case study highlighting a situation where cleaning up the house would be a good idea.
Case Study 2: You inherited your Dads house, who had dementia
Let’s pretend you inherited your home from your Dad. Your Dad was extremely handle. He kept the yard in tip-top shape—he kept the inside of the house beautiful and up to date. Towards the end, your Dad developed dementia. Because of dementia, things got a bit messy in the house. But nothing a good clean wouldn’t take care of.
In this scenario selling your house as-is would be a bad idea. Instead, if you clean out the trash and make everything shine, including countertops and windows, you can list the house and sell it quickly in Colorado.
I would argue that you would sell your house fast anywhere in the country if this were the situation. Of course, you would have to price it right.
Pros of Selling a House As Is In Colorado
There are many good reasons to sell a house as-is. We talked about this briefly earlier in the article. I want to expand on those by comparing the Pros and Cons of selling your home as-is. Some more good reasons to sell your house as-is in Colorado include:
- It’s much faster
- You save money on repairs
- As-is buyers often pay cash
- Cash sale means no mortgages or bank fees.
- No realtors and no commissions.
I want to expand on each of these PROS quickly.
Selling as-is will save you time.
Working with contractors is like herding cats. It isn’t easy. And they can take forever to get repairs done. By selling a house as-is, you skip all these delays and hassles.
There is a general rule of thumb for how long repairs take based on how much you plan to spend. Have you heard it before? It looks like this: Every $1000 to $5000 you spend making repairs will cost you a week.
If you plan to renovate a kitchen or bathroom and spend $16,000, it could take the repairman anywhere from 4 to 16 weeks to complete it! There are many situations when a person needs to sell a house fast, which wouldn’t be unacceptable.
It’s a fact that selling a house as-is will save you oodles of time because you eliminate the need to fix anything.
You spend no money when you sell your house as-is.
Selling as-is will save you thousands. You won’t have to pay anything out of pocket.
Home improvements and repairs get expensive quickly! Home Depot says the average cost of a minor kitchen remodels is $24,000! That’s just for a little remodel! Imagine if you do something significant. Therefore you will save a lot of money when you sell a house as is.
Here is how much some other common repairs will cost you:
- Roof replacement: $6,500 – $13,0000
- Water heater: $1,700 – $3,300
- Sewer line repair: $300 – $4000
- Sewer line replacement: $10,000+
As you can see, home repairs add up fast. Because of this, if you want to sell your house without spending money in Colorado, you will have to sell it as-is.
No Repairs, Mortgages, Fees, Delays, No Realtors, No Commissions, Fast Cash Sale.
When you sell as-is, some further significant advantages include the following:
- No mortgages – no red tape or any of that government stuff.
- No fees, bank fees, or closing costs (we pay closing costs).
- Delays are eliminated because you can sell directly to us.
- No realtors and their hefty commissions.
I am a home buyer looking forward to buying houses in Denver, on the Front Range, and in Colorado. Because of this, I see all the benefits. Maybe I don’t see all the negatives. Throughout this article, I have been highly transparent. I have told you exactly what I have seen in my 20 years of working in real estate.
As the Colorado housing market changes, the facts I have given you may change also. I will endeavor to stay on top of this.
Cons Of Selling My House As-Is In Denver, CO
There is always a wrong side (unless we talk about ice cream).
The most documented CON of selling your Denver house without fixing it up is that you will sell it for less. Suppose you think back to case study number 1. That house will sell for $600,000 if you make it pleasant. If you sell it as-is, you might only get $300,000.
But do you remember how long it will take to renovate? Do you remember the enormous rehab budget to sell it for the highest price?
There is another negative to selling your house with making repairs in Colorado. Selling as-is is harder to sell on the MLS. If you list a house “AS-IS” on the Denver MLS, you will limit the number of potential buyers. Most Colorado home buyers want to buy a move-in-ready place. They are unwilling to put in the sweat equity or get a great deal.
Why Would I Sell My House As-Is in Colorado
Below are several reasons people chose to sell their house as-is in Colorado. Just because you are in these situations doesn’t mean you have to sell as-is. However, selling as-is might be the easiest way out of a financial jam or a personal situation.
Do I Have To Tell People What Is Wrong With My House When Selling As-Is?
Yes, you do. If you are selling a house on the MLS, you are legally required to tell people what is wrong with the property; how do you do this by filling out a document? The document is called a real estate disclosure.
What is a real estate disclosure?
A real estate disclosure is a form or document that lets potential buyers know what is wrong with the house. If you know something needs to be repaired, you must “disclose it.” Real estate disclosures are when the seller “comes clean,” as they say, about any property issues. This includes problems that include but are not limited to the following:
- Structural issues
- Mechanical Issues
- Encumbrances
- Rodent or Pest Issues
- Noise issues
Simply put, when selling a house in Colorado, you must tell people what is wrong with it. If you are selling as-is, you know things are bad with it. You have to tell the potential buyers. If you choose not to say to them and are found out later, you will get in big trouble.
Do I have to disclose a foreclosure?
If you search online, you will get mixed results. The default thing to say is to consult an attorney. But to save a few dollars, this is my “expert advice” and what I would do.
If I am selling my house in Colorado, and the property is in foreclosure, I would let any potential buyers know. By disclosing the foreclosure you eliminate any potential lawsuits. You will sleep better if you do it.
I have personally bought many houses in Colorado that were in foreclosure. Because of this if your house is in foreclosure it would not deter me from buying it. If you have more questions about selling your home in foreclosure in Colorado, click this link.
In Conclusion: You Can Sell Your House As-Is in Colorado
If you have a house in Colorado and like the idea of not fixing anything, you can sell your home as-is. Selling as-is has many PROS and a few CONS. There are some situations where selling as-is is the best option. If the house needs a quick clean, selling as-is might not be the best choice.
Either way, whether a good idea or a bad idea, if you want to sell your house as-is in Colorado, we will buy it. WeBuyHousesInDenver.org is a local home-buying company. We buy houses as-is and will buy your home without lifting your finger. Not only this, but we will also cover closing costs, and you can sell your house on your schedule. Click on this link if you are selling your home in this way sounds appealing and you would like to get the conversation started.
The top 10 reasons people will sell their homes as-is are:
- They don’t have the money to make repairs.
- They don’t have the time to make repairs.
- Behind on payments and late fees are piling up.
- The bank has foreclosed, and the house will be sold at auction.
- A home is in probate, and the estate needs to cash out.
- The house was inherited, requires much work, and the beneficiary doesn’t want the hassle.
- The owner is out of state.
- Too much of a burden – physically and emotionally.
- You are moving for a new job and must sell your house quickly.
- Inflation is causing rehab costs and house prices to decrease because the FED increased interest rates. Because of this, the faster they sell, the more cash they will get.
Another reason people decide to sell their house as-is in Colorado is because they sell it for cash. When you sell to a cash home buyer, like WeBuyHousesInDenver.org, you don’t have to make any repairs. This makes selling extremely fast and highly convenient. Because of this, many people in Colorado are selling their homes as is to WeBuyHousesInDenver.org.
You can sell a house in poor condition in Colorado. If you want to sell it without making repairs, you will sell it as-is. Click this link for a complete guide on how to sell your house as-is in Colorado.
You can sell your house for less than it’s worth in Colorado. You could even sell your house for 1 dollar to your son. I must warn you, though, that you could be setting yourself and the buyer up for an audit from the IRS. At best, the buyer will be hit with a huge tax bill when they sell it in the future. This is called capital gains tax.
You could let your son inherit the house when you die to avoid capital gains tax. If you do it this way, the property value will be “stepped up”. This will eliminate any capital gains if he sold it for the stepped-up value. Check this article out about selling your house for a dollar to your son and mistakes to avoid.