Are you curious about selling a house “as is” in Tennessee? 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. “The number one reason most people try to sell their home “as is” a lack of funds to do repairs. A lot of people don’t have the money — they’ve got equity in their home, but they have no way of accessing it,” says Eddie Crosslin, an agent with Crye-Leike Real Estate Services. Crosslin works with his wife, Melinda Crosslin, at Crye-Leike. Melinda is a top-selling agent in Tennesee who completes 18% more sales than the average agent in the state. “And they’re short on cash, you might say. Or don’t know how, they may not know contractors, or they’re scared or leery of hiring someone and losing money,” Eddie 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 take a closer look at how to sell a house in Tennessee, your options for getting an offer, and what to expect from the process. “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 is choosing not to entertain buyer 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, is not guaranteed. When selling a house “as is,” the general condition of the property should already be accounted for in the home’s purchase price to the best of the seller’s knowledge. “Keep in mind, a year ago, the market was so hot everyone sold as-is because buyers were willing to take the properties—any buyer was happy to get one of the contracts. With our market currently, the buyers are a little choosier, [because] they can be, and they’re still paying top dollar, but they’re not going to pay 20-30 thousand over the asking price,” Eddie adds. Homes sold “as is” often need work or are cosmetically outdated. It’s not a label you’ll likely put on a listing in pristine, move-in-ready condition. “As is” sales often attract investors searching for their next flip or buyers seeking a bargain, perhaps on a home in a great location with lots of potential. Selling a house “as is” in Tennessee doesn’t mean sweeping known problems about the house under the rug. A good time to fill out the Tennessee Property Condition Disclosure is before listing your home or requesting an offer so that you know it’s taken care of. According to the document, anyone transferring title to residential real property must provide information about the condition of the property. The form will walk you through documenting what you know about environmental hazards, features shared in common with adjoining land owners, structural modifications or other alterations or repairs. You’ll also be prompted to fill out information about No matter what method you choose to sell your home, you must make these disclosures to the best of your ability. However, Tennessee does allow certain exceptions for sellers who haven’t lived in the home within the three years before closing. “We have a Tennessee residential property condition disclosure. And if they have lived in the property then they are required to disclose any defects that the property might have. And if they don’t, they could end up in a lawsuit for not disclosing the things that there could be, potentially, proven that they’re aware of,” says Melinda Crossman. Crossman adds that investors who have never lived in the property have some leeway regarding disclosures. “If an investor has never lived in the property, they don’t have to complete a full disclosure. They can state that they have not lived in the property. There’s a box that they check that they haven’t lived in the property. So, it’s kind of a “Get out of jail” card for the investors that are selling,” she adds. The main options to sell a house ‘as is’ include: A Tennessee agent can assist in listing and selling a home “as is.” An agent gives simple presentation tips to improve marketing, helps to set an appropriate price that reflects the home’s condition, and works to find a buyer willing and eager to buy your home in its current Tennessee. Someone needing to sell their home “as is” can also work directly with a property investor or house-buying company rather than list, where it may be difficult to get an offer from a limited buyer pool. We Buy Houses operations buy “as is” at a discounted rate and generally seek out homes needing significant repairs. These companies can help sellers cash out quickly, and many will cover a seller’s closing costs.Fast facts about selling a house ‘as is’ in Tennessee
Median sales price in Tennessee
$371,900 (November 2023)
Average days on market (DOM) for Tennessee
48
Disclosures
“The Residential Property Disclosure Act in Tennessee Code Annotated § 66-5-201 to 210 requires most sellers of residential real estate to complete a disclosure statement.”
MLS has a field to mark a listing “as is”?
Yes
Is a real estate attorney required?
Tennessee attorneys are not considered essential for closing in Tennessee
Real estate transfer taxes?
0.37%
What is ‘as is’ condition in real Tennessee?
Which types of homes are sold ‘as is’?
What problems do you have to disclose in Tennessee?
Review your options to sell ‘as is’ in Tennessee
List ‘as is’ with the help of a real Tennessee agent
Sell directly to a cash buyer
