Selling As-Is or an Investment Property in Collin County
Sell as-is or sell a rental, with the numbers laid out before you decide.
Two questions, one plan
Most owners who ask about selling as-is have the same worry. If we skip the repairs, are we leaving money on the table? Most owners selling a rental ask something close. What will I keep after the sale?
I'm Omega Mejia, a REALTOR® with Simply Great Real Estate Group at OnDemand Realty in Frisco. I've owned rental property since 2005, including a short-term rental in Destin, Florida. I know what it feels like to look at a spreadsheet and ask whether it's time to sell.
I help owners across Frisco, McKinney, Plano, Prosper and the rest of Collin County put the numbers on the table first. Then you choose.
Tell Me About Your Property
Selling as-is: what it means and what it doesn't
Selling as-is means you won't make repairs or updates before you sell. It doesn't mean buyers will skip the inspection, and it doesn't mean you can't negotiate. Buyers usually still look the home over, and they may ask for a lower price or for repairs based on what they find.
Some owners choose as-is because they don't have the time or money for projects. Some are selling a home they inherited. Others know the buyer will want to put their own stamp on it.
Whether it's the right choice depends on your numbers, so I look at the sale two ways: as it is, and with a short list of repairs that might earn their money back. You see both before you decide.
Selling as-is still involves paperwork, including what you tell a buyer about the home. I'll walk you through what applies to your sale, and your attorney or broker can confirm the details.
Know what a buyer will find before they do
An as-is sale works best when nothing in the inspection surprises anyone. That's why a pre-listing inspection is part of my standard package. The report is shared with buyer agents.
It tells us what a buyer would find, so we can decide what to fix, what to price in and what to disclose. A problem you know about now costs less than a problem a buyer finds halfway through the contract.
You'll also see a Plan A, B and C for pricing. For an as-is home, the plans show what each price means for how buyers respond and what you're likely to keep.
Selling a rental or investment property
Selling a rental has more moving parts than selling a home you live in. I look at these with you:
- Your numbers. What the property would sell for, what you owe, and what the sale costs, so you know what's likely to be left.
- Your tenants. Whether the home sells with a tenant in place or after the lease ends, and how that affects who can buy it and when.
- Your timing. A date for taxes, a loan, a move or a new purchase can change the whole plan.
- Your next investment. Some owners sell one property to buy another, and some are done with rentals.
Taxes on a rental sale depend on your situation. That includes questions about exchanging into another property. I'll ask you to talk with your tax advisor early, so the plan and the tax answer fit together.
I can also show you the numbers for keeping the property a while longer. If keeping it earns more, I'll tell you.
An as-is home still gets full marketing
An as-is home or a rental isn't a lesser listing. It gets professional photography, a walkthrough video, paid ads, social posts every week, a promoted listing on Homes.com, its own website, an open house the first weekend and outreach to the 200 homes around it.
You get a weekly update from me and a monthly price review until you close. I pay for the marketing. Homes over $400,000 add drone photos, and boosted Zillow ads run on select homes.
Wondering what the property would sell for? Start with a free home valuation. Want to see my whole process? Here it is, step by step.
Start with the numbers
Tell me about the property, whether it's lived in or rented, and what you're hoping to do. I'll show you what the sale looks like before you make any decision. If selling isn't the best move yet, I'll say so.
Selling after a loss in the family? Read about estate and inherited homes. Or tell me about your property directly.
This page describes my general approach to selling a home in Texas. It isn't legal, tax or lending advice. Tax and lease questions belong with your tax advisor and attorney.
Frequently Asked Questions
What does it mean to sell a house as-is?
You agree not to make repairs or updates before you sell. Buyers usually still inspect the home, and they may ask for a lower price or repairs based on what they find.
Will I get less money if I sell as-is?
Not always. It depends on the home and the repairs it needs. I show you the numbers both ways, as-is and with a short list of repairs, so you can compare what you'd keep.
Do I need an inspection if I'm selling as-is?
A pre-listing inspection is part of my standard package. It shows us what a buyer would find, so nothing surprises you in the middle of the contract.
Can I sell a rental with a tenant living in it?
Often yes, but it depends on your lease and your timing. We look at both options, selling with the tenant in place or after the lease ends, and decide which fits your plan.
Should I talk to a tax advisor before I sell a rental?
Yes, early. The tax result of a rental sale depends on your situation. I can show you the sale numbers, and your tax advisor can tell you what the sale means for your taxes.
Hi, I'm Omega Mejia.
I help people across Collin County make their next move with confidence. Got a question, or a house you're curious about? I'd love to hear about it.
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Ready to make your move with Omega Mejia?