How to Sell Your Apartment "As Is"

October 10,2018 | By Hillel Realty Group

How to Sell Your Apartment “As Is”

Deciding to sell your apartment is a big decision that is typically exciting and sometimes stressful depending. Selling an apartment can be a big project, especially if you’ve lived it for a while and it needs some improvements to bring it up to date with other available apartments. Often times, homeowners don’t have the time or the desire to make updates to their apartment and prefer to sell it “as-is.”

What does selling “as-is” mean?

Selling an apartment “as-is” means putting it on the market without making improvements or updates that make it more appealing to buyers. However, not every buyer is looking for or interested in purchasing an as-is property. To sell your apartment quickly, follow the below steps.

Steps to selling “as-is”

  1. Hire the right real estate agent.
    If you want to sell your apartment as is, it is crucial that you hire a real estate agent. A real estate agent looks out for your best interests along with helping you navigate the process. With the right real estate agent, you will experience less stress and be confident that you are following proper precautions required when selling an apartment as-is.
  2. Price it right
    Selling an apartment as-is is not the same as listing an apartment in top-notch shape. You should price it right by considering what improvements are necessary and removing the expense from your asking price. This will help assure buyers are approved for their loan by the bank. If you know the HVAC unit or pipes are leaking, request estimates from contractors ahead of time so you can calculate the right price.
  3. Disclose the necessary items
    You must disclose certain items up front to potential buyers, especially if they are potential dangers or health hazards. The best way to protect yourself is to hire a home inspector before you list the apartment. They can do a walkthrough and identify potential issues that need attention immediately. Having this inspection completed in advance will also prevent any interested buyers from walking away after they request an inspection.
  4. Declutter your home
    Make sure your apartment feels open and welcoming to potential buyers when they arrive for a walkthrough. Keep the living area clean and free of clutter so they can imagine themselves living there.
  5. Prepare for low offers
    When you decide to list an apartment as-is, you are likely to have interested buyers that are looking to flip the property. Prepare yourself in advance for these offers by creating a plan on how to respond or counter offer, and avoid taking the low offers personally.

If you are interested in selling your apartment and need a trustworthy agent, contact Hillel Realty today. We help residents in New York sell apartments and find the perfect place to live in the city.