Selling a House As-Is in Connecticut
Are you looking to sell a house as-is in Connecticut? Whether you’ve got a fixer-upper or recently inherited a relative’s home, sometimes the goal is to skip repairs, get a fair offer, and move on.
According to Todd Auslander, a top agent in Stamford, Connecticut, who sells properties 46% faster than his peers, selling a house as-is in Connecticut is mostly done when the owner inherits the house, lives out of state, or the house is in really bad condition. Out-of-state sellers generally don’t want to bother with repairs and might not know local contractors or handymen, so they would prefer the ease of selling the house as-is.
However, selling a house as-is usually means accepting a lower offer and doesn’t always prevent buyers from trying to negotiate savings. Let’s take a closer look at how to sell a house in Connecticut, your options for getting an offer, and what to expect from the process.
Fast facts about selling a house as-is in Connecticut
Median sales price in Connecticut
$364,900 (Q1 2024)
Average days on market for Connecticut
40 (Q1 2024)
Disclosures
The law requires sellers to disclose material facts about the property through the Residential Property Condition Disclosure Report.
MLS has field to mark a listing as-is?
No, but agents write as-is in the remarks section, according to Auslander
Is a real estate attorney required?
Real estate attorneys are required to conduct real estate closings in Connecticut
Real estate transfer taxes?
Yes, 0.75% for sale price of $800,000 or less; 1.25% for sale price of $800,001 to $2.5 million; 2.25% for sale price over $2.5 million. Certain municipalities also levy their own transfer taxes.
What is as-is condition in real estate?
As-is is a type of home sale in which it’s understood that no improvements will be made to the property. When selling a house as-is, the seller chooses not to entertain buyers’ requests to complete repairs or provide a credit for fixes.
An as-is sale may also indicate that the functionality and longevity of certain home components, such as a stove on its last legs or an older roof, are not guaranteed.
When selling a house as-is, the general condition of the property should already be accounted for in the purchase price of the home to the best of the seller’s knowledge.
However, according to Auslander, just because a house is being sold as-is doesn’t mean it’s not helpful to spruce it up a bit. Some buyers, especially first-time homebuyers, are on a limited budget and don’t have the ‘vision’ to see how the house will look once it’s fixed up. He encourages his sellers, even the as-is sellers, to do simple things like paint the front door, touch up the paint in the living room, or refinish the floors, if feasible, before listing the house. These things tend to make the house more appealing without breaking the bank.
