If you need to know what the most important things to know are when selling a house as is then we should chat. KW Select will set you up for success – always. There are a few things to consider when you are selling a house as is. Book your valuation here.
Most Important Things To Know When Selling A House As Is:
- Selling a house as is, means as it stands. What this means is that you may know about the imperfections your house has. You know that it may cost you some money that you don’t want to spend to get it 100%.
- You may already know what it will cost if you do have imperfections in and on your house that you do not want to fix or change.
- It is always a good idea to know what your imperfections could cost to repair when you sell a house as is. This will help when a buyer sees your property for the very first time and believe it will cost you R1,000 to replace a window. No, the best thing you can do if you are selling a house as is, is to know what these repairs could or would cost so a great estate agent from KW Select can help you hold on price and get the very best price when we sell your property in the current market.
- Selling a house as is even with imperfections is honestly perfect for some buyers. A buyer will always need to do their own numbers to ensure they can make an offer that you will accept and still cover the cost to fix or remedy any imperfections.
- In the olden-days as my child calls it Sellers could hide behind the Voetstoets clause. Not any more so the next section is of vital importance.
- If you know that you are selling your house as is and you also know there are imperfections then you know that you will not get the very best price as a result. Buyers will work this into the negotiation so always have your quote ready to support remedies needed.
- If an agent you want to use has never heard of a Seller Declaration and it does happen often they are not up to date. KW Select’s agents are at the top of their game and they are all accredited with the PPRA – because it really is a big deal.
Selling a house as is? Book your property valuation here.
How Has The Law Changed In Recent Years?
I use myself as an example. I bought a house with many imperfections but I bought it close to the school my little girl goes to. Which was all fine and dandy but, the sellers I bought from concealed a great deal more than they should have. In short, I bought a curse, not a blessing. When I sell trust me I will be selling a blessing.
- In recent years the law has changed. Formalised through the Property Practitioners Act, a property can only be sold and transferred with a Seller Declaration or a Property Condition Report.
- In essence, you can sell a property, but legally you need to declare the condition of the property. All imperfections must be listed by a qualified and accredited Estate Agent or Property Practitioner.
- A property transfer cannot and will not be concluded if the Seller Declaration is not completed.
- What the Seller Declaration does is allow you when you are selling a house as is to declare the imperfections.
- Failure to declare these imperfections can and will result in liabilities. So be honest about what you are selling.
- And the Seller Declaration is the right thing to do because a buyer is able to budget for remedies to fix any imperfections your house may have.
- The Seller Declaration does not mean you need to fix these imperfections. It means you are making the buyer aware of these imperfections.
What Gets Included In the Offer To Purchase or OTP
If it is not on paper the conversation never happened. An OTP is a legally binding contract. If you plan not to take the loose cupboard in one of the bedrooms this must be noted on the OTP. If you are leaving anything that is currently on the property it should be noted on the OTP.
If you are declaring that there is a hole in the roof, then this is covered in the Seller Declaration. Remember you are declaring the imperfection, not volunteering to fix it. Click here to book your property valuation with a KW Select agent.
What If The Buyer Asks For Repairs To The Roof To Be Done
Remember when you buy a property you have a choice. If the buyer wants the roof fixed and you are not willing to do it then it’s simple. Put in the offer or keep looking. You are under no obligation to fix what you have declared in the Seller Declaration. Everything is covered in the Seller Declaration that KW Select utilises.
Need a valuation because you are selling a house as is
KW Select is seasoned in all areas of residential and commercial property. We cover rentals too which is another question altogether. And remember that at KW Select we have top estate agents near you who will fight hard to win the honour of selling your house as is. Click here to book your free property valuation. We also have buyers that are looking for projects and we have buyers looking for all kinds of things – someone even called a home they were looking for a Unicorn. We have unicorn hunters all over the country.
