Selling a House As-Is in Florida

Fast facts about selling a house as-is in Florida

Median sales price in Florida	$427,000 (June 2024)
Average days on market for Florida	35 days (June 2024)
Disclosures	Florida law does require sellers to disclose known material defects about the property.
MLS has field to mark a listing as-is?	No. As-is may be listed in the remarks.
Is a real estate attorney required?	Real estate attorneys are not considered essential for closing in the state of Florida.
Real estate transfer taxes?	State transfer tax rate: $0.70/$100, unless a county levies the optional local documentary stamp surtax, then the state rate would be $0.60/$100 within the county. Optional county documentary surtax: up to $0.45/$100 Mortgage tax: $0.35/$100 The state nonrecurring intangible tax rate is $2/$1000 Consult the NCSL Table Real Estate Transfer Taxes for more information.

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 is choosing not to entertain requests from buyers to complete repairs or provide a credit for fixes.

An as-is sale may also indicate that the functionality and longevity of certain components of the home, 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.

“If there’s a major repair or component of the home that you know is not brand new or in tip-top shape,” says JoAnn, “simply disclose it and you’re good.”

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Homes sold as-is often need some work or may be cosmetically outdated.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.

For example, the Jacobs recently showed an as-is property in a desirable neighborhood to a newly married couple. The HVAC and appliances were relatively new. The home needed just cosmetic updates such as new flooring and paint to bring its design aesthetic out of the 1980s.

“It’s going to be their first home,” says JoAnn, “They’re OK with some sweat equity, so it’s a good opportunity for them.”

What problems do you have to disclose in Florida?

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

While filling out a disclosure form per se is not contractually mandated, Florida law does require sellers and their agents to disclose any significant property material defects that may not be easily visible to the buyer. Buyers still have the responsibility to have the property inspected.

“Buyers don’t like the fact that the form is not required,” says Tom, “and Realtors hate it.”

That’s why top-notch Realtors such as the Jacobs still encourage their sellers to proactively fill out the form.

A good time to fill out the Florida Realtors’ Sellers Property Disclosure-Residential is prior to listing your home or requesting an offer so that you know it’s taken care of.

According to the document, Florida law requires the seller to disclose all known facts “that materially affect the property’s value and are not readily observable or known to the buyer.”

Furthermore, the seller represents the information provided on the form and any attachments are “accurate and complete to the best of the seller’s knowledge.”

The seller is also prompted to fill out information about whether homeowner’s association membership is mandatory and whether the HOA has any restrictions or covenants that affect the property.

If the seller installed a hot tub, pool, or spa after October 2000, you must indicate what kind of safety feature it has to comply with Florida statutes.

As the seller works through the form, “‘Don’t know’ is a perfectly fine answer,” says Tom. The Jacobs typically supplement that with an explanation, such as the owners never occupied the house because it’s inherited or they moved out five years ago.

That way, Tom says, “Buyers and their agents understand the perspective of the seller, where they’re coming from, what they know, and what they should know.”

Review your options to sell as-is in Florida

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 purchase your home in its current state.

One of the greatest advantages the Jacobs bring to a sale is their experience and knowledge. “We just try to arm our sellers with information,” says Tom.

That process usually begins with a thorough examination of the home.

“We do a home inspection to find out exactly what’s wrong with the property and get repair estimates for the potential buyer,” says Tom. “Buyers always seem to assume the worst. If you have estimates showing how much the repair is going to cost — maybe, in reality, the repair estimate is $5,000, but a buyer might assume $10,000 — that gives the buyer peace of mind.”

Using the punch list and repair estimates, the Jacobs also help the homeowners set realistic expectations about selling an as-is property that needs work.

“People interested in buying a distressed house are looking to get a return for the work they do,” Tom explains.

For example, if a house is worth $300,000 and needs $30,000 of repairs, “No buyers want to do $30,000 of work just to break even,” he says. “If they did, they would just go buy a $300,000 house.

With that in mind, Tom advises pricing that home at $260,000. “That way, if the buyers offer $265,000, the sellers feel comfortable and confident that’s a good offer,” says Tom. “They’re not insulted by it.”

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 traditional way, 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.

The level of integrity and customer service you experience can vary, even within an established house-buying company that strives to maintain consistent business standards. This is because many We Buy Houses companies are franchises and often use independent investors or local wholesaling outfits. Your experience greatly depends on the character of the person or group making the offer.

If you are considering a cash offer, vet the company thoroughly. Check reviews, read testimonials, and research its presence and performance in the market. And, of course, read the buying agreement carefully before signing.

You need a highly ethical, knowledgeable agent who will guide you through the process and work with you to disclose everything now, so problems don’t arise later. It’s best to look for an agent with five to 10 years of experience, who’s experienced changes in the market over time.

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  Thomas-and-JoAnn Jacobs Real Estate Agent

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  Thomas-and-JoAnn Jacobs Real Estate Agent at Coldwell Banker Hartung and Noblin

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  Currently accepting new clients

  • Years of Experience 27
  • Transactions 1234
  • Average Price Point $244k
  • Single Family Homes 984

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 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 77% 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.

“You need a highly ethical, knowledgeable agent who will guide you through the process and work with you to disclose everything now, so problems don’t arise later, ” says JoAnn. “It’s best to look for an agent with five to 10 years of experience, who’s experienced changes in the market over time.”

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.

Because the Jacobs want a professional assessment of each home’s crawl space and attic, they routinely recommend pre-listing inspections.

While a pre-listing inspection may expose previously unknown defects that are expensive to repair and now must be disclosed, “it’s better to learn about a problem upfront because it was going to come up eventually,” says JoAnn. “How bad would it be to have your property under contract and then everything fall apart? It’s more heart-wrenching to find out after the contract.”

On the flip side, sometimes inspections reveal that some properties don’t need as much work or updating as the owner originally thought.

Even though buyers are likely to pay another professional to conduct their own final evaluation, “A pre-listing inspection gives you a clear picture,” says JoAnn. “It helps in pricing and marketing by communicating the condition of the property to buyers.”

Price to reflect as-is condition

The median sale price for homes in Florida hit $427,000 in June 2024, a 1.6% increase over the year prior.

The Jacobs say homes sold as-is in the area typically sell for 25% less than regular listings. Some of the top factors that impact the value of an as-is listing in Florida include:

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.

Do ever-so-light preparations

Even for as-is home listings in Florida, the Jacobs typically recommend sellers complete tasks they can do themselves and/or without spending a lot of money, including:

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 sell up to 32% faster and bring in up to $116,076 more than their 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:

• A-rated school districts
• Lakes/waterfront recreational areas
• Beaches
• Downtown
• Medical centers
• Shops and restaurants
• Parks
• Safe and quiet streets
• Convenient public transportation
• Easy freeway access
• Golf courses

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 Florida include priced to sell, fixer-upper, sold as-is, or handyman’s special sold as-is.

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 the:

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.

“We educate our clients by explaining the whole process — what buyers are trying to achieve, what sellers to achieve, and how we can put the two together and make it work for everybody,” says Tom.

In addition, the Jacobs try to head off an issue that frequently occurs in the negotiation of as-is property. “We try to prevent the buyer from trying to double dip the seller,” Tom says.

For example, buyers or their agents might ask the sellers to pay $5,000 in closing costs, so the buyer can make $5,000 in repairs. The buyers might also say they need a $5,000 price reduction to offset the same repairs. “So we have firm numbers and verbiage about what we’re willing to do,” he says.

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.

“A cash sale is good for everybody,” says Tom. “It streamlines the transaction and involves fewer people.”

Typically, a cash sale doesn’t involve an appraisal, which might generate a value contingency or an additional list of property defects that might set off a new round of negotiations. In Florida, “a cash sale also allows the repairs required by the insurance company to be completed after closing rather than before,” he says.

In that way, a cash sale can keep a closing on track rather than having it derailed by unexpected issues.

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 provide you with a no-obligation full cash offer to buy your home in as few as 24 hours.

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 30-70 days it typically takes to close with a financed buyer.
Curious to know more about the Simple Sale experience? Hear it first hand from one of our valued clients in the video below.

Additional We Buy Houses companies in Florida

Below we’ve compiled a list of some of the leading companies that purchase homes as-is for cash in Florida 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 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.

It’s hard to predict how much profit a seller stands to make on an as-is sale versus a traditional sale. “It depends on what the sellers owe and other variables,” says JoAnn. “Each situation is so different.”

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%-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 Florida?

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

“Buyers are scared of the unknown,” says Tom. “So if you can make the unknown known, be concise and upfront, and explain the home’s condition to them confidently, it makes buyers feel more comfortable investing in your property.”

Before they enter the market with an as-is property, it’s important for sellers to realize, “Knowledge is power, so don’t hide from what needs to be done,” says JoAnn. “Find an experienced Realtor, identify what needs to be fixed, get estimates, work with your agent to decide the best course of action and create a plan about how to proceed.”

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.

Header Image Source: (Roger Starnes Sr / Unsplash)