Nick Answers Reddit
Looking for recommendations for an Ottawa real estate agent who can sell a house “as-is” and help me determine pricing accordingly.
In the future, I’m going to need to sell a house in “as is” condition. I’m not interested in renovating and then selling, but I also don’t want to get taken advantage of. I really need someone who knows their stuff as I’m pretty ignorant about real estate, etc.
Can anyone suggest a good realtor for this? I wouldn’t be ready to list for maybe 6 months…
House is in West End.
Nick Answers Reddit
Realtor here, so I’m answering partially out of self-interest, but do have some notes that I hope will be helpful regardless:
“As Is” Sale
By “as is,” do you mean that you’re planning on selling the home in its current condition with no improvements, or “as-is, where-is,” because you’re not privy to/not able to warrant any potential defects? The two scenarios have different legal implications and the second is more like what one would see during a bank sale or selling a home on behalf of an estate. If you’re the current owner and occupant, there will be at least some expectations of disclosure.
It may be worthwhile to pay for, or ask your Realtor to include a prelist home inspection. It will cut down on potential surprises that could come up during the conditional portion of the sale, and let you get ahead of any obstacles by arranging quotes for contracting or repair work. For example, our team will be selling an older home soon with some beat up (but good quality) original hardwood floors. Instead of refinishing the floors (possibly not to a new owner’s taste) in a home that has many other dated aspects, we’re paying for a few quotes on refinishing so at least Buyer and Seller have accurate ideas of costs. It helps keep the numbers realistic during negotiation.
If possible, it may still be worth “staging” the home by decluttering it, virtually staging or even selling it empty, if it is currently cluttered. It helps show the potential of the home.
You’re likely right to sell the home without planning for any major updates. Unless your Realtor can demonstrate through comparables that a specific renovation or update would significantly improve the resale value of the home beyond the cost and headache of said renovation (for example, if a home was well updated except for one bathroom), then no renovation is better as long as the home is priced appropriately. A deep cleaning and a coat of paint are probably your best investments, dollar for dollar.
Choosing a Realtor
Interview multiple Realtors. There are lots of good resources online. I’ve always liked this one at Homelight because it has the questions and what they’re trying to uncover.
Here’s an overview of the selling process. Self-promotion.
Beware the agent trying to “buy” the listing of your home by suggesting an inflated price. Your Realtor should be able to provide a data-supported price based upon evidence.
There are plenty of things that you can start on early to get ready so that it’s not a stressful crunch near listing time. Your Realtor should be able to outline a plan and a timeline that works for you.
I hope that helps!
More about "As-Is" Homes
Selling Your Home “As-Is”: What It Really Means
Selling a home “as-is” means that the property is being sold in its current condition, without the seller making any repairs or updates. This can be a great option if the home requires work, but there are some key considerations to keep in mind.
How Pricing Works for “As-Is” Sales
Pricing an “as-is” property is different from a traditional sale. Here’s how to approach it:
Market Value vs. Condition: The price needs to reflect the home’s current state. A comparative market analysis (CMA) will help determine what similar properties in the area are selling for and how your home’s condition affects its value.
Buyer’s Perception: Most buyers looking at an “as-is” home will expect a discount compared to a fully updated property. They’ll factor in renovation costs, effort, and potential risks.
Investor vs. End-User Buyers: Investors may look for deeper discounts, while homebuyers may pay more if the property is livable.
Working with a Realtor Experienced in “As-Is” Sales
A real estate agent who specializes in selling “as-is” properties can:
Help price your home strategically to attract the right buyers.
Market the home effectively, highlighting its potential rather than just its current state.
Negotiate with buyers who may request further discounts after inspections.
Should You Disclose Issues?
Yes! In Ontario, you’re legally required to disclose known issues that could make the home unsafe. Even if not legally required, transparency can prevent future legal issues and maintain trust with buyers.
Three Final Tips
1. Get a Pre-Listing Inspection
Even though you’re selling “as-is,” having an inspection can provide clarity on the home’s condition and prevent surprises during negotiations.
2. Consider Cleaning and Minor Improvements
Small touches like decluttering, cleaning, and fresh paint can make a huge difference in perception—without major renovations.
3. Be Flexible with Offers
Buyers of “as-is” homes may have conditions like financing or extended closing dates. Being flexible can help secure a deal faster.
609
120