Tiffiny Alexander
Tiffiny Alexander, RE/MAX Gold
Email: [email protected]

Upgrade or Sell As-Is?

by Tiffiny Alexander 05/26/2019

If spending money to make money on your property seems counter-intuitive, you might attempt to sell your home “as-is” and keep your money for the new place. After all, most of those homes featured on renovation reality shows are in worse condition than yours; and those buyers intended to gut the place for a complete makeover anyway.

Just know that the offers you receive will reflect the needs of the buyer, so you won’t get top dollar unless the property is in an extremely desirable area. Still, it might make sense to sell as-is for a discount if your situation is difficult or you’re strapped for cash. Conversely, selling a home that isn’t up to code reduces your buying pool. FHA and VA loans require a home to meet minimum property standards to secure the loan.

Another consideration is how much you still owe on the property. Unless the investment for repairs and upgrades is more than your remaining mortgage, it is probably worth spending to bring your property up to code. A qualified real estate professional can help you prioritize your repairs to those necessary to get it sold, or market it to buyers looking to renovate to raze the home.

So, who buys as-is?
Investors often purchase property intending to “flip” it; that is, to renovate a distressed property and quickly resell it to recoup expenses and make a profit. Typically, investors want the “bones” of the property to be sound, so foundation and structural issues are less appealing to them.

Another type of investor wants the property for its proximity to business or industry. Their goal is to have the property rezoned for commercial purposes or to build multi-family structures on it instead. If the area around your home is transitioning to commercial or multi-family dwellings, your professional real estate agent can guide you to this type of investor.

Less common is the buyer that wants a project or fixer-upper on which to put their own stamp. Some fixer-uppers buy for nostalgia (they lived in the home/area as a child) and others for what they know the area can become. Their goal is to restore the home to its former glory while adding newer amenities. As opposed to flippers, these buyers often intend to live in the home while working on it, or once the work is complete.

If you determine that selling as-is is the best option for your situation, discuss the issue with your agent. She can warn you about what to expect for offers with your home in its current condition and help you set a fair asking price based on its location and the market trends in your area.

About the Author
Author

Tiffiny Alexander

 

Tiffiny Alexander is an award-winning broker in both California and Arizona. She’s a wine country native, bringing more than two decades of market knowledge and industry experience to those she serves. The hallmark of her business acumen is marked by her blue-collar-work-ethic roots coupled with a cornerstone concept of always being able to put her name to her work. Tiffiny has handled an array of residential, land, and commercial real estate requisites. She is an International Certified Luxury Home Marketing Specialist, leveraging a global reach of industry relationships to better serve her clients. She enjoys the opportunity to work and play in both The Valley of the Moon (her Northern California headquarters), as well as The Valley of the Sun (her Scottsdale and Phoenix Arizona office). She’s mastered the art of connecting her clients with the American Dream of building wealth through real estate; be that primary residence, destination get-away, or cash flow investment opportunities. 

 

Tiffiny is passionate about the outdoors, art, and the architecture found in abundance throughout the Sonoran Desert as well as the wine country of Northern California. Where can she be found when not immersed in all things real estate?  Hiking or running the local trails, teaching art in the Rincon Valley School District and introducing new local artists to the community at Fulton Crossing Gallery in Santa Rosa, California. Tiffiny grew up on a ranch in Northern California well stocked with farm animals, fresh eggs, and produce, She’s a farm-to-table foodie, whether its fine dining or family-style. And while she enjoys the luxuries of a five-star resort, she’s just as happy backpacking some of the amazing places thoughtfully preserved for the nature-lover in her. 

 

Tiffiny is the founder of Cannabis Land Brokers, the flagship real estate group dedicated to helping cultivators and distributors buy, sell, and lease cannabis zoned real estate. She is committed to legal, responsible, and sustainable business practices for the industry. She works locally and nationally to connect and inform owners and growers through her work with The National Cannabis Industry Association.  

 

"Everything comes from the land. All of our stories start with some small patch of it. The soil feeds us. The earth grounds us. Vistas inspire us. Our truest sense of progress points back to our stewardship of the land.” - Tiffiny Alexander