Selling a House As-Is in Connecticut

Which types of homes are sold as-is?

Homes sold as-is often need some work or may be cosmetically outdated. It’s not a label you’re likely to 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.

What problems do you have to disclose in Connecticut?

Selling a house as-is in Connecticut doesn’t mean sweeping known problems about the house under the rug.

A good time to fill out a Residential Property Condition Disclosure Report is prior to listing your home or requesting an offer so that you know it’s taken care of. This document applies to all residential dwellings with four or fewer units, regardless of whether you sell with a real estate agent or for sale by owner (FSBO).

According to the document, the seller must disclose heating problems, if an underground fuel tank exists, and if there are hot water or plumbing problems, among other things.

The form will walk you through documenting what you know about the type of sewage disposal system, whether a well exists on the property, the type of air conditioning system, and whether carbon monoxide and smoke detectors are present.

You’ll also be prompted to fill out information about how long you have lived in the property, if anyone else has access to the property, and if the property is located in a flood hazard area or an inland wetlands area.

No matter what method you choose to sell your home, it’s required to make these disclosures to the best of your ability. However, in Connecticut, if you’re the executor of an estate or selling residential property for the estate, the form isn’t required. In all other cases, the disclosure is required.

You can choose UNKN (unknown) if you don’t know the answer to a question. Keep in mind that if you don’t present the Residential Property Condition Disclosure Report, “the seller will be required to credit the purchaser with the sum of $500 or the amount set forth in section 20- 327c of the Connecticut General Statutes if said section prescribes a different amount, at closing if the seller fails to furnish this report as required by said act.”

Review your options to sell as-is in Connecticut

The main options to sell a house as-is include:

List as-is with the help of a real estate agent

A great real estate agent will provide assistance throughout 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.

Auslander adds value to selling a house as-is in Connecticut by using his decades of experience to explain each step of the process to his seller. He’s also familiar with the local market conditions and can advise the seller on how to make the house more appealing to buyers.

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, 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 in need of significant repairs. These companies can help sellers cash out quickly, 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, 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 a little TLC and maybe has a strong network of investor connections.

Your agent should also be willing to go the extra mile on marketing. Considering nearly 70% of buyers are looking for a turnkey home, an as-is sale likely has a reduced buyer pool from the start.

Negotiating is an important part of the real estate process, especially so when it comes to as-is houses. A great agent will help the seller achieve top dollar despite the home’s condition. They will also know how to tactfully negotiate with a buyer’s agent, how to properly represent the house and showcase its good points.

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.

However, this isn’t always the case. “One inspector might make a bigger issue out of something than another inspector is going to do,” says Auslander, who doesn’t always recommend getting a pre-listing inspection.

“Buyers are still going to do their inspection, they’re going to do their own due diligence, and they are going to be paying their inspector,” he adds. Instead, Auslander advises that sellers save the $1,000 inspection fee and let buyers get their own inspection after making an offer on the house.

Price to reflect as-is condition

According to Berkshire Hathaway HomeServices New England Properties, the median sold price for homes in Connecticut hit $455,000 in the second quarter of 2024, a 10.98% jump over the same period last year.

“Pricing is based on the condition of the home, and what similar homes in the area have sold for, not so much on if it’s being sold as-is or not,” Auslander shares.

Some of the top factors that impact the value of an as-is listing in Connecticut include its overall condition, its size, the area and school district it’s located in, and what comparable houses are selling for.

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.

Find Out What Your Connecticut Home is Worth

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

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Do ever-so-light preparations

Even for as-is home listings in Connecticut, Auslander typically recommends sellers complete the following:

Photograph to show potential

Your home listing warrants professional photography, no matter the condition of the property. 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 sell up to 32% faster than houses marketed without professional photos, according to a study by VHT Studios.

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:

• Local parks, including playgrounds, green spaces, and dog parks
• Shopping, including grocery stores, pharmacies, and specialty shops
• Hospitals and healthcare centers
• Schools; be sure to specify the school district
• Distance from New York City
• Proximity to highways
• Gyms, libraries, cafes, and swimming pools

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 as-is listings in Connecticut include priced to sell, quaint, original kitchen, and fixer-upper.

To balance the focus on as-is condition, work with your agent to craft a property description that highlights the best features of the home, such as beautiful, original hardwood floors, large windows, and a spacious backyard. In Connecticut, there isn’t a specific as-is checkbox for agents to label the house. Instead, the agent will write as-is in the MLS remarks section.

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.

Auslander reminds the buyer’s agent that “the house’s price reflects its condition to try to prevent nickel and diming.” He advocates for the seller during the negotiation and does his best to get them the most money for their home without losing the deal.

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 are 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 clearer path to settlement.

In Auslander’s experience, cash offers aren’t as common as offers that come with a financing contingency, but it depends on the type of home and the price point. Cash offers are great for uninhabitable homes, homes that are missing appliances, or homes that have broken heating systems — because those types of homes wouldn’t qualify for most mortgages.

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 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 can receive a no-obligation cash offer for your home within 24 hours. If you accept the all-cash offer, closing can take place in as few as 10 days. You won’t have to worry about costly repairs, professional staging, or never-ending showings. To get started, answer a few basic questions about your home and how much work it needs.

Skip repairs

There’s 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-out 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 30–50 days 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 Connecticut

Below, we’ve compiled a list of some of the leading companies that purchase homes as-is for cash in Connecticut and information about each.

How much will you make from an as-is home sale?

There is no simple equation for calculating how much you’ll net from an as-is sale. If you list on the market with an agent, you’ll need to account for the cost of agent commissions (around 3%-5.8% on average) and other closing costs such as title fees and taxes, but are likely to field higher offers from buyers and see more competition for the home.

Different types of investors and house-buying companies also offer varying amounts for homes, largely dependent on their exit strategy. While fix ‘n’ flip investors usually pay around 70% of the home’s after-repair value, buy-and-hold investors who plan to rent out your property may be able to pay more. In addition, investors are often willing to cover a seller’s closing costs, which can add up to around 1% to 3% of the sale price. HomeLight’s net proceeds calculator can be helpful for running through some possible selling scenarios and estimating your take-home pay.

Ready to sell your house in Connecticut?

While every home sale is different, you should now be familiar with the general process of selling a house as-is in Connecticut. Now, you can begin to weigh which method will work best for you.

Auslander, who sells as-is houses in Connecticut, gets many questions from buyers’ agents as to why the house is being sold as-is. He familiarizes himself with the house before listing it so he can accurately answer those questions.

He says that many offers on as-is houses still contain an inspection contingency, and the buyer’s agent may note that it’s only for informational purposes. “I take that with a grain of salt because if the inspection was really just for informational purposes, there wouldn’t be a contingency,” he adds.

Whether you choose to list as-is with a real estate agent or work with a direct home buyer, a home doesn’t have to be in perfect condition to sell — so long as you provide disclosures as necessary, set the right price, and know what to expect going in. Whenever you’re ready to take the next step, HomeLight would be happy to assist with your real estate needs. Connect with a top agent near you, or get started with a cash offer from Simple Sale.

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