Selling a Home As Is in Arkansas (A-to-Z Guide)

When homeowners selling a property in The Natural State don’t wish to repair anything, they list the house in ‘as is condition’.

This lets prospective buyers know the seller does not intend to do any repairs, make any upgrades or improvements, or do any rehabbing.

The home is sold exactly the way the buyer finds it on the day the sales contract is signed. The seller, however, must maintain the current condition until the close of escrow.

In Arkansas, the sales contract will have an ‘as is’ condition clause that both seller and buyer will sign to acknowledge that status.

While buyers can request repairs when buying a residence in The Natural State, sellers are under no legal obligation to fix or repair anything.

Yes, absolutely! You can sell a home ‘as is’ in Arkansas.

The next segments will detail the answer to the question “How does selling a house ‘as is’ work in Arkansas?”

State real estate statutes require only one property condition disclosure — a warning to potential buyers of the presence of lead paint in houses constructed before 1978.

Arkansas is a “caveat emptor” state, so no other state-required condition disclosures are necessary when selling a property.

That means the burden is on the buyer to investigate the listing to determine if there are conditions that would risk the health and safety of the new owners, or if the house has material damages that would reduce the value of the property.

Buyers have the legal right to bring in professional home inspectors to determine both things.

As a seller, it helps to know what inspectors normally look for when they complete property reports.

They look to see if the homeowner is selling a house in a flood zone, or if the home has fire or water damage.

Inspectors will investigate to determine if the property owner is selling a home with foundation issues, or if there is a significant concentration of asbestos, mold, or radon gas.

Property inspectors can determine if the owners are selling a house with lead pipes or polybutylene pipes and will note these conditions on their reports.

Professional inspectors also have checklists that look for owners selling a house with septic system failure, unpermitted work, or termite damage.

While most inspectors won’t report a haunted house or bed bugs, they may have a report category for the presence of hydraulic fracturing (known as fracking) on or near the home.

When these are a concern to buyers, an inspector will also incorporate those conditions on the final report.

It’s illegal for the homeowner to disguise defects or unsafe conditions from potential buyers or from property inspectors.

This action could cause the seller to face legal challenges when these problems are later discovered by the buyer.

The only legal condition requirement for homeowners selling a property in Arkansas is to report when they are selling a house with lead paint.

Federal law requires sellers to provide the new buyer a copy of the federal lead paint disclosure that reviews the health risks of exposure to lead.

You can leave stuff behind when you sell your Arkansas house ‘as is’ as long as it’s part of a written and signed formal sales contract.

Answering the question,“Should you sell your Arkansas house ‘as is’ or fix it up?” takes some careful consideration.

Evaluating the pros and cons of selling ‘as is’ or fixing can help you make that decision.

Let’s focus first on this question, “Why sell an Arkansas house ‘as is’?” There are a number of advantages to selling as a fixer.

Pros of Selling Your House As Is

• You can skip the hassle of locating professionals to do the work to improve your property before selling. You’ll also avoid paying for those expensive repairs. If you’re doing the work yourself, you’ll still need to pay for materials, and that outlay can be considerable.

• You’ll be able to put the house up for sale faster when you don’t waste time doing repairs. ‘As is’ sales can move rapidly, especially when you sell to an Arkansas cash house buyer. Cash sales eliminate the need for lender approvals of a buyer, and you’ll also skip an appraisal on the property.

• Buyers looking for a turnkey property hire an Arkansas home inspector to make a list of damages that need repair. This begins the tedious back and forth of deciding who pays for those repairs and how those damages impact the home’s final sale price. When you list ‘as is’, your buyer understands they’re purchasing the house without any improvements.

• ‘As is’ home buyers typically allow sellers to leave unwanted items behind. Professional cash investors won’t require you to clean out the house.

Let’s now compare those advantages with the major disadvantages of selling as an ‘as is’ listing.

Cons of Selling Your House As Is

• You won’t receive a turnkey price for your property when selling in ‘as is’ condition. Examining the estimated closing costs for sellers is a good way to evaluate your pricing options when selling as a fixer. This helps you set a bottom line sales price.

• Your buyer pool will be limited. Most buyers aren’t interested in purchasing a fixer. Fortunately, there is a small buyer pool of cash investors who specifically look for sellers listing homes in ‘as is’ condition.

The next major question we’ll answer is, “How do I go about selling my house ‘as is’ in Arkansas?”

Let’s begin with the first option — selling to an Arkansas cash real estate buyer.

How to Sell a House As Is, Fast and For Cash Directly to an Investor

Who Are Cash House Buyers?

Cash house buyers are professional investors who buy real estate. They might be a collection of buyers organized as a business, or they may purchase homes as independent operators. Some hedge funds also invest in real property.

Investors use their own cash to buy, but some borrow from private lenders.

This process is different from traditional mortgage companies because there aren’t any home appraisals or underwriters involved in private lending. A cash investor is ready to buy when the offer is presented.

Investors may purchase Arkansas investment properties to rehab and then resell. Other real estate investors in Arkansas focus on buying rental homes as income properties.

When you sell your house to a real estate investor, they’ll assist you in guiding the sale through the escrow process.

Cash buyers help sellers looking for a quick sale when faced with any of the following situations:

• homeowners selling an estate home
• property owners selling a house that needs work
• couples selling a house after divorce
• empty nesters looking to downsize
• employees selling a house for job relocation
• owners facing a lender foreclosure
• people selling a house with an IRS tax lien

Professional cash buyers typically work with Arkansas investor-friendly title companies that have experience in cash investment sales.

Pros of Selling Your House As Is Directly to an Investor

• Selling to a cash house buying company is a fast sale.

• No need to put up with prospective buyers walking through your home, inspectors examining your property, or house appraisers needing appointments. Cash sales to investors eliminate all these annoying steps.

• No commission payments. Cash investors don’t use agents, and when you also skip the Realtor, you’ll save those fees.

• Professional property investors pay their closing escrow costs and will also pay your fees.

• Investors buy to rent, or to remodel and resell. They’re not purchasing your home for personal use, so you’ll have a lot less hassle selling to an investor compared with buyers who are looking for a turnkey property.

Cons of Selling Your House As Is Directly to an Investor

• The offer you receive from an investor won’t match an offer on a turnkey property. Investors deduct the cost of home repairs from the after-repair value of your home, as well as factor in an element for their potential profit.

• You won’t have a professional real estate agent to guide you through the sales process. When you work with a seasoned investor with years of experience, however, this shouldn’t be a problem. Cash buyers have gone through the process a number of times and can take the lead during the escrow process — all without charging a commission.

Finding the Best Cash House Buying Company

Cash house buying companies are as close as your computer screen. Simply open your favorite browser and use the search terms below to find local property investors.

• we buy houses Little Rock AR
• sell my house fast Little Rock AR
• cash house buyers Little Rock AR
• sell my house for cash Little Rock AR
• iBuyer companies Little Rock AR

Substitute your locality to narrow your search to your area. If you live in a rural area, use the closest metro center as the search term.

Once you’ve identified investors, it’s time to begin the vetting process.

How to Choose an Ethical Investor?

Start with locating the “About Us” page on the investor’s website. This should provide background information about the cash buyer company.

Look for investors with at least three years of experience in the field.

If the website doesn’t provide any background information, you probably want to focus on another investor. Ethical cash buyers are transparent about their background and buying experience.

The next step is a visit to the website of the local branch of the Better Business Bureau (BBB). This site lists complaints filed by unhappy clients against local investors.

Check the local consumer websites for similar complaints against the cash investors on your prospective buyer list.

If all this requires more time than you want to invest, take the easy option and request cash offers online from HouseCashin.

One quick online request can bring you multiple offers from local investors, and HouseCashin handles all the detailed investor vetting for you.

We screen the partnering investors so you have only experienced professions with a track record of closing sales.

And no matter how many cash offers you receive, there’s never any fee or any obligation to accept any of the offers. Request your cash offers now.

If you’re still interested in other sales options, you can go at it alone and represent yourself during the sale. This is known as a “for sale by owner” listing, or an FSBO.

How to Sell a House As Is by Listing It by Owner

When listing your home on your own (more commonly known in the industry as FSBO or “for sale by owner”), it’s all about selling your property without the help of a real estate agent.

This means you’re taking charge of every step — from pricing your home and marketing it, to negotiating with buyers and handling paperwork.

While this method can save you money by avoiding agent commissions, it also requires a bit of extra effort and research to ensure you’re navigating the process effectively.

For example, knowing what your house is worth is absolutely crucial. It’s the foundation of your entire strategy — you don’t want to price it too high and risk scaring off buyers, or too low and end up losing money.

With a bit of research into local market trends, or by using online tools, you can get an approximative estimate of your home’s value. However, for an accurate valuation, order a professional appraisal by a property appraiser or a CMA (comparative market analysis) by a real estate agent (as a separate service, at a fixed fee).

Once you nail this step, you can then find potential buyers for your property. The next section gives you some ideas to attract the right kind of buyers.

Where Can You List a House For Sale by Owner?

Locating buyers is the toughest part of an FSBO listing. The easiest way to attract buyers is to put a sign on the property, but that’s no guarantee interested home shoppers will see your signage.

You can put more eyes on your property by advertising online on one of the many FSBO websites. You may need to pay a small fee for some, but most postings are free.

Another way to attract potential buyers is to create fliers to distribute to neighbors and local businesses. They may have friends, family, or staff who want to live in the neighborhood.

Pros of Selling Your House by Listing It by Owner

• You’ll avoid any commission fees when you sell by yourself and your buyer foregoes using a licensed agent.

• You control every aspect of the sale. You can list when you want, market the way you think is most effective, and set your own closing schedule.

• You can spend all your time and effort on your property. You won’t have other listings or clients who interfere with your sales efforts.

Cons of Selling Your House by Listing It by Owner

• When you sell to non-investors, you’ll typically need to wait for your buyers to be approved for mortgages. You’ll then experience more delays while the lender sends an appraiser to establish a value for the house. These slow your closing, sometimes by weeks.

• You’ll need to have basic real estate knowledge when you take on the professional agent chores.

• You may make a mistake when working as an FSBO that delays your closing. If you make a major mistake, it may cost you the sale and even see you in court for misrepresentation. A mastery of the FSBO closing costs can help avoid some basic errors when selling a house in Arkansas by yourself.

Who Are Real Estate Agents?

Real estate agents are professionals who help you list, market, and sell your house. They are your personal representative in the sale, and they’ll place your interests first.

Agents are your fiduciary during the sales transaction.

A real estate agent assists sellers by filing the listing, completing the lead paint disclosure, advertising the property to attract potential buyers, and they also serve as a guide through the sales negotiations and the escrow process.

Arkansas agents are licensed and must operate under the supervision of a licensed broker who oversees the work of the agents in the brokerage.

Agents using the title of “Realtor” are members of the state branch of the National Association of Realtors (NAR). This group of trade professionals pledges an oath to uphold the highest level of business ethics.

Pros of Selling Your House As Is with a Real Estate Agent

• Realtors can assist you in setting a price for your home by using a database of local home sales. This information allows you to compare your property to other houses that have been sold in your neighborhood. It lists the features, size, and the property amenities so you can set a competitive sales price.

• Agents have undergone the education and training to assist you in meeting all state and local laws and regulations. They have the experience to guide you through each step of the sales process.

Cons of Selling Your House As Is with a Real Estate Agent

• The most significant disadvantage in selling a house by using a real estate agent is the commission fee. Even though fees are negotiable, Arkansas commissions average approximately 6% of the property’s sales price. The average Realtor cost to sell a home is the most significant element of the sales closing costs in Arkansas.

• Professional agents have a number of clients, and each demand time during the week from their fiduciary. This means your house may not be a top priority on any given day, or even during the week.

• Most buyers brought by real estate agents typically need to borrow to purchase a house, so you’re still in a hold cycle while they wait for a traditional loan. Mortgages add weeks to the closing calendar as your buyer undergoes evaluation to qualify, and your house is examined by the lender’s appraiser.

How to Choose an Ethical Real Estate Agent?

Once you’ve collected a list of prospective agents to represent you in your sale, it’s time to vet them to ensure you’re working with someone who has the highest ethical standards.

The first step to make sure they have a valid and active license to work in the field in Arkansas.

The Arkansas Real Estate Commission has a webpage to do that. Search by the name of the agent or the brokerage to find the official license and expiration date.

You can also contact the commission to make sure the agents on your list aren’t currently under suspension for violating commission standards.

The National Association of Realtors and the Arkansas local board of the trade organization handle consumer complaints about member agents. Check both places for formal complaints against any of the Realtors on your list of prospects.

The next place you’ll want to research is the online consumer forums where unhappy clients can air grievances against agents.

The local boards of the Better Business Bureau take this process one step further by attempting to resolve conflicts between real estate agents and consumers. Look at the local board for any complaints filed with the BBB against the agents on your list.

Narrow your list to three of the best prospects and invite them to come to your property to outline their services.

Quality agents will have a professional portfolio to share with you. They should also have a list of recommendations that you can contact to confirm the agent will serve you well in your sales transaction.