Selling a House ‘As Is’ in Minnesota
Want to skip repairs and make a quick sale? Selling your home in Minnesota “as is” may be the right choice.
Looking to sell a house as-is in Minnesota? Whether you’ve got a fixer-upper or recently inherited a relative’s home, sometimes you just want to skip repairs, get a fair offer, and move on.
“A lot of people who want to sell as-is have either had a bad experience in the past, or they just don’t want to deal with the headaches and hassles involved in selling a home,” says Tyler Brickle, a top-performing agent in Saint Paul, Minnesota.
“What I mean by a ‘bad experience’ in the past is that people who usually use the turn of phrase as it is have said, “Well, last time I sold, or last time I bought a house, I was nickel-and-dimed, and I just want the price to be what it is,” Brickle says.
However, selling a house as-is usually means accepting a lower offer, and it doesn’t always prevent buyers from trying to negotiate savings. Let’s look at how to sell a house in Minnesota, your options for getting an offer, and what to expect from the process.
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Fast facts about selling a house as-is in Minnesota
| Median sales price in Minnesota | $343,000 |
| Average days on market (DOM) for Minnesota | 59 days |
| Disclosures | Minnesota law requires sellers to disclose material facts about the property through the Minnesota Seller’s Property Disclosure Statement. |
| MLS has a field to mark a listing “as is”? | Yes |
| Is a real estate attorney required? | Real estate attorneys are not considered essential for closing in Minnesota. |
| Real estate transfer taxes? | 0.33% |
What is ‘as is’ condition in real estate?
As-is is a type of home sale where it’s understood that no improvements will be made to the property. When selling a house as-is, the seller chooses not to entertain buyer requests to complete repairs or provide 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, is not guaranteed.
When selling a house as-is, the property’s general condition should already be accounted for in the home’s purchase price to the best of the seller’s knowledge.
Brickle says that types of homeowners looking to sell as-is are most commonly people just in over their heads —- due to a combination of the house needing repairs or being behind on mortgage payments with the threat of foreclosure looming.
“They’re not necessarily in a bad house, but they’re either behind on payments or in foreclosure, or the house has just become too much of a headache for them. So it’s really used when someone wants an easy sale. They don’t want to haggle too much,” he says.
