Selling a House ‘As Is’ in New York

Selling a house “as is” in New York? Whether you’ve got a fixer-upper or recently inherited a relative’s home, you may just want to skip the repairs, get a fair offer, and move on with your life.

“The most common reason[s] I would say is people [sell their home “as-is”] are either downsizing or their family has grown, and they’re upgrading their house,” says Dominick Marchesiello, a top-performing New York agent who sells homes 46% faster than the average agent in his market. Marchesiello is a member of the Marchesiello Team.

“In the last few years, I would say 25% to 35% of our sellers have moved out of state either for retirement or to go to warmer weather. We have seen a slight increase in out-of-state sales in the last three years,” Marchesiello adds.

However, though selling a house “as is” usually means accepting a lower offer, it doesn’t automatically prevent buyers from trying to negotiate savings.

Let’s take a closer look at selling a house “as is” in New York, your options for getting an offer, and what to expect from the process.

Fast facts about selling a house ‘as is’ in New York

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 a credit for fixes.

An as-is sale may also signal that the functionality or longevity of key 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 purchase price of the home to the best of the seller’s knowledge.

“In New York state, all homes on the transfer of title are considered “as-is.” So, sometimes using the term “as-is” almost raises a red flag that something is wrong when that might not be the case. Buyers, I would say, might perceive the “as-is” term as something’s wrong and they don’t want to deal with it,” Marchesiello says.

Which types of homes are sold ‘as is’?

Homes sold “as is” often need some work or could be cosmetically outdated. It’s not a label you’ll likely put on a listing in pristine, move-in-ready condition and is typically reserved for older, significantly “lived-in” property.

As a result, “as is” sales will 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.

“I think there’s a potential lock on financial profitability on the sale when we highlight the as-is term. So, that’s not something that we typically recommend highlighting. We try to advise our clients that there are things that you can do to improve the value and get a higher return on your investment for the sale of the property,” Machesiello says.

What problems do you have to disclose in New York?

However, just because you are selling a house “as is” in New York, it doesn’t mean you can sweep any known problems about the house under the rug.

Before listing your home or requesting an offer, you’ll want to fill out a Property Condition Disclosure statement.

This document is “a statement of specific conditions and information concerning the property known to the seller, and providing a knowingly false or incomplete statement may subject the seller to claims by the buyer before or after the transfer of title.”

The form will walk you through documenting any property’s environmental, structural, and material issues.

You’ll also need to fill out information about easements, rights, or any legal claims on the property.

No matter what method you choose to sell your home, it’s required to make these disclosures to the best of your ability. Also, unlike some other states, New York does not allow certain exceptions for sellers who haven’t lived in the home.

Review your options to sell ‘as is’ in New York

There are several ways to sell your home as-is. Here are some of the primary ones you are likely to consider:

List ‘as is’ with the help of a real estate agent

A great real estate agent will assist in the process of 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 state.

Sell directly to a cash buyer

Someone needing to sell their home “as is” can also work directly with a property investor or house-buying company rather than list the property, 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, usually in a matter of days, and many will cover a seller’s closing costs.

Steps to list ‘as is’ with the help of a real estate agent

Find an agent willing to list the home ‘as is’

Your choice of real estate agent always matters, but especially when selling a property “as is.” It’s important to find the right match. You’re looking for an agent who doesn’t shy away from listings that need some work and maybe has a strong network of investor connections.

Your agent should also be willing to go the extra mile on marketing. Considering 80% of Americans say they would prefer to buy a move-in ready home, an “as is” sale likely has a reduced buyer pool from the start.

Consider a pre-listing inspection

A pre-listing home inspection is the same as a standard home inspection except that the seller pays for it before listing their home on the market. It may sound like a counterintuitive step for an as-is sale, but getting the inspection results upfront can illuminate any issues that could impact the value of the home and inform an accurate pricing strategy.

If a buyer requests further deductions to the price based on their own inspection, you may be able to point to how the estimated cost of certain repairs was already baked into the list price.

“[It] might be that you can fix or repair any items that are brought up ahead of time to feel more comfortable that you have a house that does not have any major structural issues and you have a written report on it. The downside to that is that should something they find that a seller is not aware of, they are obligated to disclose that,” Marchesiello warns.

Price to reflect ‘as is’ condition

The median sale price for homes in New York hit $785,000 in the early part of 2024, a slight decrease from 2023, but still significantly higher than in previous years, such as in 2020, where it hit $700,000 at the end of the year.

You can start with a free estimate from HomeLight’s Home Value Estimator (HVE).

Our HVE combs public data, including tax records and assessments, and pulls recent sales records for other properties in your neighborhood. Using a short questionnaire, we also factor in specifics about your home, such as the property type and described condition. Input your address, and we’ll provide you with a preliminary home value estimate in under two minutes.

What is Your New York Home Worth?

Enter your address and get a preliminary estimate of home value in under two minutes.

Get Started

Do ever-so-light preparations

Even for as-is home listings in New York, Marchesiello typically recommends sellers complete the following:

• Junk removal
• Having the property decluttered or cleaned out
• Fresh paint

Marchesiello suggests that doing this can usually lead to the “highest returns on your investment.”

Photograph to show potential

Your home listing warrants professional photography no matter what type of condition the property is in. A professional photographer will take steps to shoot each room from the best angle, ensure optimal interior and natural lighting, and edit for the ideal brightness and exposure.

A high-quality camera with a wide-angle lens is also essential to showcasing entire rooms rather than half or three-quarters of what’s there. For these reasons and more, professionally photographed homes can help earn homeowners up to a 47% higher asking price per square foot compared to houses marketed without professional photos.

Your real estate agent will almost always arrange for professional photos as part of the listing process.

Highlight the surrounding area

A home’s location will be important to buyers seeking out a home with potential. Mention in your as-is listing if your home is close to any of the following:

• Downtown areas
• Major employers
• Parks and green spaces
• Sports venues and entertainment districts
• Waterfront views or access (ocean or a lake)
• Highly rated schools
• Access to outdoor activities
• Public transportation

Include ‘as is’ in the listing

Unless you explicitly mention that your house is being sold “as is,” buyers will have no idea of your intentions with the listing. Other common descriptors mentioned in New York as-is listings include price to sell, fixer-upper, handyman special, or a “call for investors.”

To balance the focus on as-is condition, work with your agent to craft a property description highlighting the home’s best features.

Understand buyers may still negotiate

Listing “as is” provides no guarantee that buyers won’t try to negotiate savings on their purchase, even on an asking price you felt was already reduced to reflect the home’s condition. One of the best defenses you can have is an agent who takes a hard stance to prevent a deal from going south for the seller.

Be aware of minimum property standards for certain loans

When you place your home on the market, it’s hard to predict if your top offer will come from a cash buyer or a buyer pre-qualified for a home loan.

But if you do end up working with a financed buyer, be aware that different mortgage types (such as conventional loans or government-backed FHA, USDA, or VA loans) have different minimum property standards. These are standards related to the overall condition of a property which will play a role in the willingness and/or ability of a lender to finance a buyer’s loan.

Before properties can be financed, their value and condition is typically examined by a state-licensed, independent appraiser contracted by the buyer’s mortgage company.

If you’re unsure whether your home will meet appraisal requirements, you can start by taking a look at the FHA minimum property standards. If your house complies with FHA, then it complies with most other lenders’ requirements.

Prioritize a cash offer if you receive one

On occasion, conventional lenders may even finance a fixer-upper property sold “as is,” and it’s not impossible to finance a fixer-upper with an FHA loan. However, if you’re selling a house “as is” — especially one that needs heftier repairs — you may want to consider accepting a cash offer if you receive one. Cash eliminates the lender-ordered appraisal as well as the time it takes to close on the buyer’s loan, creating a faster and more straightforward path to settlement.

Pros of listing a home ‘as is’: 

• Save time and money on prep work
• Possibility of reducing negotiations from the inspection
• Solution for out-of-state owners and inherited homes

Cons of listing a home ‘as is’:

• Limited buyer pool
• Expect lower offers
• Negotiations and repairs aren’t always off the table

Steps to sell directly to a cash buyer

Now that we’ve covered the general process of listing a home “as is,” let’s discuss the alternative of working with an investor. While the process varies from business to business, the steps to selling your home to a house-buying company typically go something like this:

1. Decision: A homeowner decides a traditional listing isn’t for them. Perhaps their house needs a lot of work, or they do not want to host any showings or open houses. They’re concerned about finding a buyer willing to purchase their home “as is” in its current state.
2. Contact: A seller contacts a company that buys homes in their area and provides some basic information about their home.
3. Preliminary offer: At this stage, some house-buying companies will provide a preliminary offer that is subject to change after a house assessment.
4. Assessment: The company schedules a walkthrough of the property to evaluate its condition, usually within 24 to 48 hours.
5. Firm offer: The company makes a firm offer (usually within 24 hours, sometimes on-site after the walkthrough), which you can accept or decline. Most of these companies will not negotiate on price, so the offer is a take-it-or-leave-it scenario.
6. Closing: If you accept the offer, you and the company will each sign the contract, and closing will begin. Some companies offer a large deposit or moving cost assistance, and a few may even pay for the home upfront.
7. Payment: The seller receives payment quickly, typically within seven days to a few weeks. This can vary by company, and sellers who work with a house-buying company often enjoy flexibility in selecting a move-out date that works for them.

If you aren’t sure where to get a cash offer, consider Simple Sale, a solution from HomeLight. With Simple Sale, you tell us a bit about your home, such as whether it’s a single-family or condo and how much work it needs. From there, we’ll offer you a full cash offer to buy your home in as little as a week.

Skip repairs

No need to call the roof inspector or drain your savings to replace the HVAC. HomeLight will provide an offer for homes in almost any condition.

Sell when it’s convenient

Want to get out right away? Or need a little more time to pack? Either way, we’re flexible. Pick a move date that works for your schedule within 30 days of closing.

Close with certainty

Cash buyers don’t need a lender’s involvement to purchase a home, meaning they can move nimbly and quickly compared to someone who needs financing. With Simple Sale, you can close in as little as 10 days, compared to the 30-60 days or longer it typically takes to close with a financed buyer.

Curious to know more about the Simple Sale experience? Hear it firsthand from one of our valued clients in the video below.

Additional We Buy Houses companies in New York

Below we’ve compiled a list of some of the leading companies that purchase homes “as is” for cash in New York and information about each.