A Toronto home sold as-is means the seller is making no major repairs or improvements before listing. It indicates to potential buyers to not expect a property with upgrades and renovations. This has advantages and disadvantages. It reduces prep costs and is likely to lead to a faster sale but will likely net you a lower sale price, and you’re more likely to have to negotiate or haggle with certain investors.

Here are the pros and cons of selling a Toronto home as-is and how it affects a potential sale.

Pro: You Attract Investors And Buyers

There is an entire category of buyers, investors, and flippers who will want to buy your home and accept it with any defects or maintenance issues that may persist.

Con: It Limits Your Buyer Pool

Certain buyers want to buy a house that is already renovated, including many families. You limit your potential buyer pool by selling as-is.

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Pro: Requires Less Effort

You may not have the time or resources to invest in costly repairs and renovations. Selling a home as-is in Etobicoke means you can save the money you would invest in the property and don’t have to put forth as much effort to stage the property a certain way.

Con: Buyer May Still Request Repairs

During negotiations, a buyer may still request certain repairs be covered by the seller after a home inspection. Be prepared to be reasonable yet firm in discussing terms and price.

Pro: Possible Faster Sale

When you skip renovating, it means you can list your home immediately. If you need to move for work, are selling for financial reasons, or don’t have the patience to wait, buyers looking for as-is properties often want a speedy closing process.

Con: Requires Correct Pricing Strategy

Toronto’s housing market is hyper-competitive. Buyers have many options. A home that is selling as-is and priced too high will sit on the market longer and lose out on buyers. Take great care in setting realistic prices.

Pro: No Hassling With Repairs

No waiting for repairs to be done. No having to hire a contractor and then wait for them to complete their work. No taking a risk on a repair that may or may not increase the final sale price.

Pro: Your Property Still Has Strengths

Even a property selling as-is still has positive features that can be focused on to highlight value, such as a large lot size, location, renovation potential, and key features of the structure. Work with an experienced real estate agent or realtor to zero in on your home’s most attractive selling points.

Con: Lower Sale Price

For an as-is property, most buyers expect a discount as they know they will need to invest in repairs. If maximizing profit is your goal with selling a home, you may want to consider not selling as-is.

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Pro: You Can Still Sell High

The right location in Toronto can net you a high sales price. Real estate investors are willing to pay the right price for location. So will first-time homebuyers willing to renovate, and developers and builders who see a property’s redevelopment potential.

Pro: Offload Any Kind Of Property

No matter how distressed or unattractive a property may be, there are investors who will buy a Toronto home as-is. Offload a property that may otherwise struggle on the traditional real estate market.

Are you a seller looking to sell your Toronto home as-is but for the highest price possible? Are you a buyer looking for Toronto properties you can buy as-is in attractive areas such as Etobicoke? Call us at Adrian + Andrea today at (416) 319-6893 or email info@adrianandrea.com.