Not ready to sell but would like offers for my home

[Alikair]

I would like to sell my home in a year or two.
I have been getting cash offers in the mail periodically.
I don't know if this is possible but is there a way to list your home as is? The way I see it, if it will cost me 2k to get the house ready to show and then 6% commission to sell plus the major hassles, why can't you just ask for less "as is"?
The way I look at it is, if someone walks up and offers me this I will hand them the keys and walk out the door. (That was just an example to make clear my point)
I looked at open door, the website said my home is to old and need a realtor.

 

[Litigator22]

When the turkey is done slip back in the oven. You're only half-backed!

 

[Alikair]

When the turkey is done slip back in the oven. You're only half-backed!

That's kinda rude isn't it ?

 

[Just Blue]

That's kinda rude isn't it ?

Ignore Lit...He seems to be an angry man.

 

[Alikair]

Ignore Lit...He seems to be an angry man.

I realize I don't know what the heck I'm talking about and that's why I'm on this website trying to get advice.

 

[Gail in Georgia]

I have rental properties and not a week goes by when I don't get one or two of those "I want to buy your house at ...such and such an address" for a fast cash deal". If you check into these they are typically very low ball offers based on the fact that investors are looking for those that are desperate to sell either because they got in over their head financially or because they are sick and tired of dealing with rentals and tenants and want to get out of that business.

I've recently sold a house "as is". And worked with my real estate agent so yes, he got a commission. Turns out another real estate agent whose been in the business a long time purchased it. It needed updating and some major work in one of the bathrooms and I was tired of dealing with this place and just wanted it to go away.

You need to understand if your place needs repairs and you are not willing or able to put the time and money into doing so you may not be able to find anyone able to get a mortgage on the place. Thus the only folks able to purchase it are those able to do a cash deal with you...and they will know the true value of your place and offer you no more than this. They will also typically do their due diligence in having their contractors and/or inspectors check out your place as opposed to simply grabbing your keys and tossing money at you as you walk out the door and they walk in.

My suggestion would be to find an agent familiar with working with investors, have them check out your place and give you an honest (if possible) idea of what it might be worth "as is" or what might improve the value with doing some work to repair whatever might need repair.

Gail

 

[Alikair]

I have rental properties and not a week goes by when I don't get one or two of those "I want to buy your house at ...such and such an address" for a fast cash deal". If you check into these they are typically very low ball offers based on the fact that investors are looking for those that are desperate to sell either because they got in over their head financially or because they are sick and tired of dealing with rentals and tenants and want to get out of that business.

I've recently sold a house "as is". And worked with my real estate agent so yes, he got a commission. Turns out another real estate agent whose been in the business a long time purchased it. It needed updating and some major work in one of the bathrooms and I was tired of dealing with this place and just wanted it to go away.

You need to understand if your place needs repairs and you are not willing or able to put the time and money into doing so you may not be able to find anyone able to get a mortgage on the place. Thus the only folks able to purchase it are those able to do a cash deal with you...and they will know the true value of your place and offer you no more than this. They will also typically do their due diligence in having their contractors and/or inspectors check out your place as opposed to simply grabbing your keys and tossing money at you as you walk out the door and they walk in.

Gail

I understand that most cash for homes offers are too cheap, that's why I would like to set a price. If someone wants to buy the house for said price great, otherwise in a year or more I will sell it for more to cover the commission and prep fees. That's the best I can do to explain it.
You don't know if something is possible unless you ask. And it's hard to search for something if you don't know what it's called.
I take it from the few responses I've received that it is a really stupid idea.

 

[Shadowbunny]

I would like to sell my home in a year or two.
I have been getting cash offers in the mail periodically.
I don't know if this is possible but is there a way to list your home as is? The way I see it, if it will cost me 2k to get the house ready to show and then 6% commission to sell plus the major hassles, why can't you just ask for less "as is"?
The way I look at it is, if someone walks up and offers me this I will hand them the keys and walk out the door. (That was just an example to make clear my point)
I looked at open door, the website said my home is to old and need a realtor.

You can absolutely list your home "as is," it's your prerogative to structure the sales contract (within the bounds of law) however you like. However, you'd be smart to heed Gail's post - she gave you solid advice.

Edited to add: you can also negotiate the commission rate of your agent.

 

[stealth2]

Well... My parents listed their house as-is. Although they weren't really sure that they wanted to sell. It was listed at a price that it wasn't likely to sell at, and you can't be forced to accept a lower offer. Where it gets tricky is if you get a solid offer at/above the listed price.

 

[adjusterjack]

Where it gets tricky is if you get a solid offer at/above the listed price.

Why tricky? If you get a solid offer above your listing price you accept it and smile all the way to the bank.

I have rental properties and not a week goes by when I don't get one or two of those "I want to buy your house at ...such and such an address" for a fast cash deal".

I get them, too. I save them and will give them an opportunity to see my house when I put it up for sale and see how it goes. Fortunately, I am not desperate. I paid cash for the house and I paid cash for the house I just bought and moved into so I can afford to amuse myself with the low-balling flippers.

 

[STEPHAN]

Where is your house located?

 

[stealth2]

Why tricky? If you get a solid offer above your listing price you accept it and smile all the way to the bank.

Not if you've decided that you don't *really* want to sell. LOL

 

[adjusterjack]

Not if you've decided that you don't *really* want to sell. LOL

That could be dangerous and subject the seller to paying the commission whether he sells or not, depending on how s--tty the realtor wants to be.

OP doesn't give a state so, out of curiosity I looked up the standard listing agreement provided by the AZ Assoc of Realtors as an example. It contains the following provision:

WITHDRAWN/CANCELLED LISTINGS.

The same amount of sale or rental commission shall be due and payable to Broker 135 if, without the consent of Broker, the Premises is withdrawn from this Listing Contract, otherwise withdrawn from sale or 136 rental, or is rented, transferred, or conveyed by Owner through any other broker or otherwise.

I'm guessing that other states' listing agreement protect the realtor in a similar fashion.

 

[Alikair]

I am wondering, is the term "as is" mean something more in the real estate world then the way I intended?
My home is not broken, has a new roof, and has a few old appliances and just needs a lot of cleaning inside and out.
It's actually a very nice house. It's on the river on 2 lots of land and the houses next to mine on the river side are selling for almost 1 mil.

My house is the nowhere near as nice as those no matter how hard I clean it up, so I'm asking for little over half of that.
It think, it is a good deal for someone. For me, I just dont have the energy to get out of my own way and get this 2600 sq ft 3 story old house in shape to sell. I'm still dealing with a loss in this house and just want to move.

 

[Alikair]

That could be dangerous and subject the seller to paying the commission whether he sells or not, depending on how s--tty the realtor wants to be.

OP doesn't give a state so, out of curiosity I looked up the standard listing agreement provided by the AZ Assoc of Realtors as an example. It contains the following provision:



I'm guessing that other states' listing agreement protect the realtor in a similar fashion.

I live in west linn oregon