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What Does It Mean to Sell A House “AS IS “?

Sometimes people inherit a home they simply need to unload and other times they don’t want to make the effort to make repairs or tune up the home’s curb appeal. In today’s world, it can also be a financial concern to finish projects or catch up on some of those deferred maintenance items. sell-my-house-as-is For these home owners looking for a quick sale, they often think selling a home “as is” is the way to go. If you’re like most folks, you might think the “as is” sale means “take it or leave it” and “what you see is what you get.”  

But an “as is” sale isn’t necessarily a cakewalk. It doesn’t mean you’re completely exonerated from taking some responsibility for the home’s condition. While advertising a home “as is” lets buyers know they’re likely to have to do some work, it also broadcasts that the home is probably going to be a relatively good deal, provided they’re willing to take on repairs.

home-disclosureAs is” doesn’t relieve you from disclosing problems with the home.   What you know about, you must disclose by law. Failure to do so could get you into hot water. If you know about a problem but hope it slips by the buyer’s inspector, you’re at risk. The seller’s disclosure provided by most listing agents to their their sellers to fill out; is a great way to list any of the improvements you might have done on the home as well as a chance to give buyers an idea of how old the roof or the heating system might be… these are two questions almost every single buyer asks – they are concerned about the big ticket items needing to be replaced or repaired.

 

And that’s another thing: “As is” homes still go through the inspection process. While your “as is” sale may indicate your unwillingness to make repairs, it doesn’t mean the buyer won’t ask you for compensation based on condition issues. You may not come out of pocket, but it could come right off the top of your listing price, so keep this in mind. What’s more, once these conditions come to light you generally must disclose them to future prospective buyers if the current one bails-in other words, if one buyer walks after an inspection – you must now disclosure all known defects to other prospective buyers.  Keep in mind, safety and environmental issues or hazards are almost never – AS IS. Underground abandoned storage tanks, wood destroying pests, and lead paint are just a few of buyers concerns.

calculaterWith any luck, your “as is” buyer will be a cash buyer, but if not, prepare for the appraisal. Banks don’t want to loan money unless they deem the value of the home is acceptable. If the appraisal comes in low, your buyer may find themselves without the funds necessary to meet your price.

While selling “as is” may seem like a viable alternative to bringing a house up to its full market potential, recognize there are some trade-offs. Go in informed and you’ll find the process much easier to navigate.

Thinking-About-Selling-Your-HouseWhether you’re looking to sell “as is” or not, I’m happy to help you get the best price possible for your home. Let’s talk when you’re ready!

Oh, By The Way, We are Never Too Busy To Give Some Help or Guidance!

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Oh By The Way, we have a great referral base of contractors, painters, dining and more to help make your house home…

Practice Fireplace Safety!

Gathering the family around a crackling fire can be one of the joys of the coldest months… or it can be a nightmare. fireplace  It’s one thing to be seated cozily on the couch while the firewood glows, and quite another to be standing on the curb in the cold watching the fire department trying to save your home.

 More than 14,000 fires begin each year in fireplaces, and fires are the cause of nearly $900 million dollars in property damage. Don’t be a victim because of shoddy maintenance or careless usage of your fireplace. This goes for both wood-burning and gas fireplaces.

 Here are some tips to maintain your fireplace and protect your life:

 1. Before the coldest months set in, get your fireplace inspected. Remember, most inspection companies will be very busy during the winter, so try and secure an inspection at least a month or so before you anticipate using your fireplace heavily.

 2. Inspect your fireplace before you use it. Take a flashlight and look in the flue. Look for obstructions. Check for cracked bricks, missing mortar, or other signs of damage. Be sure to clean out any ashes and dispose of them in a metal-lid trash can.

 3.      10121-f5f9c001-768f-4c7d-9114-3f7bdbb9e259Burn properly.  This means using seasoned hardwood (which avoids creosote accumulation), and burning logs on an approved rack or elevated grate. Also, don’t burn trash, cardboard, or other debris in your home fireplace.

 4. Keep the area around the fireplace clear. Don’t put your Christmas tree near the fireplace, or anything else which is liable to combust. If it’s flammable, keep it safely distant from those flames. 

 5. Guard against sparks. Sparks may periodically leap from your fireplace, so use a screen to prevent them from landing on rugs or nearby furniture. A screen will also prevent family pets from exploring the fireplace when not in use.

 6. Don’t leave the house with a fire burning. Extinguishing a fire before you leave is common sense, so don’t leave those burning logs unattended!

Would you like a home with a fireplace? Let us help you find just the right one: Barbara & Gregg, The Nicholas Team of RE/MAX Village Square  realestate@thenicholasteam.com  973-509-2222

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Ameriprise Auto & Home Insurance recently published this infographic about fireplace safety -you might want to print it out and share with your friends and family!

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The Essential Ingredients for a Moving Day Survival Kit

Moving day has a lot of moving parts. Almost everything you own is stored for transit, and finding one or two essential items can be a major headache, even if you labeled your boxes.

To make the day as smooth as possible, I advise my clients make a “Moving Day Survival Kit.” It’s surprising how awesome having these items at your disposal is when you first land at your new home. From paper plates and plastic flatware for lunch to toilet paper for the obvious reasons, the Moving Day Survival Kit can be a real life-saver as you sort out where the furniture and boxes need to be. Here’s what I recommend you pack in your Moving Day Survival Kit:

  • Paper towels
  • Glass cleaner
  • Baby wipes
  • Sharpie marker
  • Duct or packing tape
  • Large garbage bags
  • Toilet paper
  • Tape measure
  • Picture hangers/anchors
  • Needle nose pliers
  • Screwdriver
  • Wrench
  • Pliers
  • Box cutters (at least two)
  • Scissors (at least two)
  • Hammer
  • Small level or download a leveling app on your smartphone
  • Plastic silverware
  • Paper plates
  • Disposable / Solo cups
  • Light bulbs in high & low wattage
  • Extension cord(s)

An inexpensive plastic bin is a great way to assemble and store the kit separate from your other possessions. Feel free to add/omit items as you see fit, but with this list you’re sure to have everything covered.

We love to help buyers and sellers on their journey to moving day. Ready to move? Contact us today: THE NICHOLAS TEAM  Barbara P. Hughes and Gregg Nicholas  RE/MAX Village Square realestate@thenicholasteam.com  973-509-2222