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

Homeowners selling a house ‘as is’ in the Gem State do not want to repair, replace, rehab, or modify anything. The house is sold exactly as the buyer finds it on the day the sales agreement is signed.

Idaho contract law allows for an ‘as is’ condition clause on the purchase agreement, but the regulations also require homeowners to be transparent and share all of the property’s material defects with the prospective buyers.

A material defect is anything that would impact the home’s value or items that risk the new buyer’s health or safety.

Yes, absolutely, you can sell a home ‘as is’ in Idaho.

The next segments of this guide provide the answers to the question, “How does selling a house ‘as is’ work in Idaho?”

When you sell an Idaho house in ‘as is’ condition, you must complete a property disclosure. Let’s discuss that disclosure now.

Sellers have 10 days from the presentation of the sales agreement to complete a written real estate disclosure and turn over a copy of that document to prospective buyers — or the buyer’s real estate agent when they’re using one.

The disclosure does not specifically require identification of polybutylene pipes or lead pipes in the residence, but it does mandate an inventory of general details about the residence’s plumbing system.

Homeowners selling a property must disclose any insect infestation, such as bed bugs or termites. Any pest services currently contracted, or used in the past, must also be identified.

Idaho owners selling a house in a flood zone, or offering a property with fire damage or water damage, septic system failure, or foundation problems for sale must be transparent about these problems.

While any unpermitted work on the property must be noted, there isn’t any requirement to disclose a haunted house or one with potential psychological impacts for the new owners.

Homeowners must disclose lead paint and the presence of asbestos, mold, or radon. Properties with radon or mold mitigation systems must also note that on the condition disclosure.

Federal law also mandates that homeowners complete a lead paint disclosure for residences built before 1978. This is a separate document that must be given to the new buyers along with the general state disclosure form.

You can leave stuff behind when you sell your Idaho house ‘as is’ as long as both buyer and seller agree to those terms on the sales agreement.

“Why sell an Idaho house ‘as is’?” The answer to this question requires some serious consideration. It helps to make a list of the advantages and disadvantages to each option.

Let’s begin with a list of the benefits.

Pros of Selling Your House As Is

• House repairs are expensive, and even when you do the work yourself, they’re time-consuming and costly. When you sell in ‘as is’ condition, you escape this financial drain, as well as the hassle of locating people to do the repairs and supervising their work.

• ‘As is’ sales are fast moving, particularly when you sell to an Idaho cash house buyer. Purchasing a home with cash eliminates the wait for the loan application, and also the lender-required appraiser reports that can add weeks to your closing time.

• A buyer-hired Idaho home inspector can also add weeks to the closing. The inspector’s visit needs to be arranged, and then buyers typically want to renegotiate the sales terms after reading the inspection report. You’ll eliminate the back-and-forth negotiations over nitpicky repair details when you sell in ‘as is’ condition.

• A cash buyer, particularly a professional home investor, will allow you to leave any unwanted items in the house after you move. This not only saves money, but time as well.

There are a few disadvantages to selling as a fixer, too.

Cons of Selling Your House As Is

• You won’t receive top dollar, turnkey value for your property. Taking a look at the estimated closing costs for sellers, however, can help you set a target price for your home.

• Your buyer pool will be limited, since traditional buyers typically want a house they can simply move into without doing any repairs. Fortunately, there’s a buyer pool for your home. Professional investors are interested in purchasing properties in ‘as is’ condition.

You are the only one who can answer the question, “Should you sell your Idaho house ‘as is’ or fix it up?” but when you weigh the pros and cons of listing as a fixer, then selling your home in Idaho as is may be the way to go.

Once you’ve decided to fix or sell as is, the next question that needs to be addressed is, “How do I go about selling my house ‘as is’ in Idaho?”

Let’s start out with selling to an Idaho 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 professionals who invest in real property. They may operate as an individual or partner with others in a firm. Hedge funds also buy and sell real estate as an investment tool.

The major difference between traditional home buyers and cash house buyers is that investors have access to quick cash.

Many investors use their own funding, but some get funds from private lenders. These loans aren’t like traditional home mortgages, since they don’t require the wait time for buyer approvals or the property appraisals that lenders conduct before funding a mortgage.

Cash house buyers look to purchase Idaho investment properties that require repairs. The investor then does the improvements and “flips” (resells) the property to a new owner.

Other real estate investors in Idaho focus on buying rental properties that they’ll continue to lease as a source of income.

When you sell your house to a real estate investor, a seasoned cash buyer has the expertise to handle all the details of the escrow and the closing process.

Real estate investors can assist property owners facing these situations:

• heirs selling a house under probate
• people selling a damaged house
• couples selling a home during divorce
• older homeowners looking to downsize
• employees selling a house for job relocation
• homeowners selling before a property foreclosure
• owners selling a house with unpaid property taxes or IRS liens

Professional cash buyers typically work with local Idaho investor-friendly title companies. These companies have experience with all-cash sales and can close quickly.

Pros of Selling Your House As Is Directly to an Investor

• A company that buys houses offers a fast sale. They have the expertise to close quickly and advertise this as their main selling point.

• Cash sales don’t require the long wait for buyers to qualify for a loan, or the delay for your property to go through the lender appraisal process, which can take weeks or longer.

• You won’t have to shell out cash for real estate commissions, since investors don’t use agents.

• You’ll skip paying your closing costs. Investors pick up the tab for their closing fees and also your costs! That’s a major savings.

• You won’t have the nitpicky back and forth of home inspections and contract negotiations that happen with traditional buyers. Investors are professional buyers. They understand what ‘as is condition’ means.

Cons of Selling Your House As Is Directly to an Investor

• You will not receive offers that match turnkey property prices. When making an offer, an investor deducts the cost of home repairs from the after-repair value of your home, as well as incorporates a potential profit that they will need to make by reselling the property.

• You are your fiduciary for the sales transaction. You won’t have an agent to represent you. This shouldn’t be a concern when you vet your investor and select one with at least three years in the cash-buying field and a long list of happy sellers.

The next section of the guide covers how to locate a reputable cash buyer.

Finding the Best Cash House Buying Company

You can find a number of cash house buying companies by using your internet browser and a few basic search terms like these:

• we buy houses Boise ID
• sell my house fast Boise ID
• cash house buyers Boise ID
• sell my house for cash Boise ID
• iBuyer companies Boise ID

Once you’ve found a few investors, it’s time to do the vetting.

How to Choose an Ethical Investor?

Ethical cash investors should be transparent about the company’s background and experience. You can find that information on the “About Us” page on the cash buyer’s website.

If that information isn’t present, scratch that investor from your list of prospects.

The next job is to check the investors’ consumer reviews.

The local branch of the Better Business Bureau (BBB) handles consumer complaints. Look for the investor or company BBB ratings and for any claims filed against them.

Consumer websites are another place where your investors may appear. Highlight cash buyers on your list with endorsements, not complaints, on these websites.

All this research is taxing and takes time. If you don’t want the hassle, there’s a quick and easy way to screen prospective cash house buyers.

You can request cash offers from experienced investors online by using HouseCashin. Complete the simple request form online, and we will forward it to our partnering team of local cash buyers.

HouseCashin prescreens our partnering companies so you know you’ll have an experienced cash buyer with a history of closing escrows.

There’s no fee for the screening, and you’re never charged for offers — no matter how many offers you have!

When you want a fast alternative to handling all the screening work yourself, you can request your cash offers the easy way.

If you want to locate your own buyers, there’s another sales option to consider. The next segment reviews that method.

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

An FSBO (for sale by owner) listing is a property offered directly from the homeowner without any representation from a real estate agent.

When you’re selling a home by yourself, the first step you should tackle is to know the estimated value of your home. It is essential to set the right price — one that grabs buyers’ attention without shortchanging you.

To get a solid estimate, take the time to research market trends or have your home professionally appraised. You can then think of ways to advertise your property to the right buyers.

Where Can You List a House For Sale by Owner?

A quick way to list your house as an FSBO is to place a sign in the yard and hope it attracts a buyer who wants to pay your asking price. That’s a long shot in most real estate markets.

You can attract more attention for your home by making a video of your property and then posting it on a few FSBO listing sites. These services are available for free, or for a nominal fee.

Making a flyer for your house information and distributing it to neighbors and local businesses may also bring prospective buyers.

Sometimes friends and family members want to move into the neighborhood, or employees want to relocate closer to work. Letting your neighborhood know your home is available opens up a buyer pool.

There are some benefits of offering your home as an FSBO.

Pros of Selling Your House by Listing It by Owner

• An FSBO seller’s biggest advantage is eliminating commissions. You won’t need to spend between 4.68-5.6% of the sales price to pay Idaho Realtors for representation when you sell your house yourself.

• You are in charge of everything in a for sale by owner listing, from the time you list to the calendar date you want to close. You direct all the details of the sale.

• You can spend all of your time focused on your sale. Real estate agents divide their time between a number of clients. You work only with your home, so you can devote all of your efforts to getting it sold.

Cons of Selling Your House by Listing It by Owner

• You’ll find that most of your prospective buyers need a mortgage. As with using a Realtor for the transaction, you’ll wait while your buyer applies and is approved for a home mortgage, and the property then goes through the appraisal and underwriting process.

• You will be in charge, and you will need to work as your own fiduciary. You won’t have a trained professional agent to back you up during the transaction.

• If you make an error, it can cause a delay in closing. If you make a serious mistake, your sale may fall apart — or your buyers may take you to court for that error. Reviewing the escrow procedure and the closing costs when selling a home by owner can assist you in navigating your sale.

The last sales option in this guide is to work with a professional real estate agent to sell your house.

Who Are Real Estate Agents?

Real estate agents take on the duties of listing, marketing, wrangling contracts, and guiding your sale through the escrow process.

Agents are your exclusive fiduciary and have the charge to put your interests first from the time you sign the listing contract through the signatures on the transaction’s final closing documents.

Idaho agents are required to pass classes covering contracts, marketing, and real estate law. They work under the oversight of a broker, who also has comprehensive training. Both agents and brokers are licensed by the state.

There are some major advantages to listing with a Realtor.

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

• Realtors have access to a comprehensive database of current listings and home sales. This information includes the physical details of the property, including the condition. Buyers can use this data to determine a realistic price for their property.

• Trained agents know how to list and market your home to attract buyers. Experienced agents also have the training and expertise to avoid major snags in the sales process that can delay the closing.

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

• Real estate brokerages charge sellers a hefty fee to handle the listing and sale duties. The average Realtor cost to sell a home is the most significant part of the closing costs in Idaho.

• Most home shoppers brought to you by agents want to purchase homes that don’t need repairs. You can wait a long time to attract buyers interested in a fixer.

• Real estate agents market houses to the general public, and most prospective buyers need mortgages to purchase a property. The loan process adds weeks to the sale, sometimes longer.

How to Choose an Ethical Real Estate Agent?

There are a number of real estate agents in your area. Narrow your search to agents who have experience selling properties in your neighborhood and to agents who understand how to market fixers.

Ask friends and family for recommendations of agents who have those particular skills.

Agents using the title “Realtor” are members of the Idaho Realtors professional trade association. That’s the state branch of the National Association of Realtors (NAR).

Realtors agree to take an oath to both operate as your fiduciary and also follow the NAR moral code that holds their actions to the highest ethical business standards.

Failure to follow that oath and business code can mean fines, suspensions, or removal from the association.

Once you have a few prospects, invite three seasoned Realtors to your house to do a listing presentation that explains what they can offer as your professional representative in the sale.

Agents should bring a professional portfolio so you can see the marketing they’ve done for other properties.

They should also have a list of former clients who can recommend their services. Contact several before making a decision to select an agent to represent you.