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

An ‘as is’ sale means that the seller of an ‘as is’ property wants to sign the sale paperwork, turn over the keys to the house, and have that be the end of it. They do not want to fix or repair anything.

The official residential purchase contract in Oregon has an ‘as is’ condition clause.

Any conditions or actions the seller agrees to do and any written representations in the sales contract, however, are excluded when the clause is used.

Yes, you can sell a home ‘as is’ in Oregon. Oregon disclosure laws require sellers to inform potential buyers of any known defects or issues with the house.

If you have multiple buyers on a contract, each buyer needs to receive a separate disclosure form to inform them of any problems.

Defects and issues are anything listed on the required written disclosure form that would impact the property’s value.

Any defect that would risk the new buyer’s health or safety must also be disclosed in writing.

If you know of any defects, risks or hazards associated with the home, you’ll need to disclose or face potential lawsuits.

The first step in selling your Oregon ‘as is’ house requires filling out the disclosure, but there are a few exceptions to the disclosure laws.

If you’re a court-appointed receiver, trustee, conservator or guardian or personal representative of someone else, you don’t need to complete the disclosure form.

While bed bugs and haunted houses aren’t specifically mentioned on the form, the Oregon disclosure statement requires a more comprehensive accounting in many other areas.

For example, it asks for specific details about the source of water, water systems, and drainage.

Oregon houses constructed before 1976 must confirm the structure has been bolted to the foundation to avoid seismic damage during earthquakes.

Selling a house with foundation issues needs to be disclosed, as well as other disclosure requirements that include a detailed list of potential risks and problems.

Selling a house with specific title questions such as identifying any boundary disputes and the presence of known right-away encroachments and easements needs disclosing.

Owners selling a home with prior damage from landslides, water damage, (including beach movements), earthquakes, wind and fire damage and expansive soil must disclose these.

Selling a house with nonconforming uses on the property must be noted on the written form. Unpermitted work also needs to be included on the disclosure.

Other detailed disclosure requirements in Oregon include the property’s treatment of sewage, source of household water, and type and condition of the insulation used in the house.

Selling a house with mold, asbestos, lead pipes, failed septic systems, or lead-based paint must be disclosed.

Oregon also enforces the mandatory federal disclosure of the presence of lead-based paint.

Oregon banned future use of hydraulic fracturing, but selling a house with any prior fracking operations must be disclosed to potential buyers.

Selling a house in a flood zone must be disclosed, as well as a house located on or near any identified geological hazards.

Selling a house with radon, polybutylene pipes, or termite damage also must be identified.

This doesn’t mean you need to hire inspectors to fill out the form, but you need to disclose any known or suspected problems with your ‘as is’ house.

Can you leave stuff behind when you sell your Oregon house ‘as is’? The answer is a qualified yes. You can leave things behind — if you disclose you’re going to do that.

The buyers must also agree to buy the house with the stuff you left. If they don’t agree, they can back out of the purchase agreement, or you’ll need to handle removing the items.

Once your buyer has the disclosure statement, they have five days to back out of the deal without facing a penalty.

Oregon disclosures have a six-year statute of limitations. This means that after six years, the buyer can no longer sue you if you didn’t disclose something.

Why sell an Oregon house ‘as is’? This next segment focuses on that question.

One of the most important questions for ‘as is’ home sellers is, “Should you sell your Oregon house ‘as is’ or fix it up?”

Outlining the pros and cons of selling a house ‘as is’ can help make that decision.

Pros of Selling Your House As Is

• It takes energy to fix defective items or remodel an outdated house. ‘As is’ sales eliminate that. You’ll save the stress of searching for qualified contractors to do the work, or taking time to do the work yourself. You’ll also save the repair costs.

• The time savings is the biggest advantage for the ‘as is’ home seller. No repairs are needed before marketing the house. It happens especially fast when you sell to an Oregon cash house buyer.

• Turnkey home shoppers frequently hire Oregon home inspectors to find problems that aren’t apparent to the untrained buyer and start nitpicking trying to lower the offer or requesting repairs. ‘As is’ buyers know the house has defects, so it’s easier to deal with them.

• Many ‘as is’ buyers are fine with allowing you to leave items behind in the house at the close of escrow.

• You’ll save the cost of utilities, mortgage interest, property tax, and any homeowner association fees paid during the repair time when you sell without doing repairs.

There are also downsides that need to be considered when selling ‘as is’.

Cons of Selling Your House As Is

• You won’t receive the same price for your house compared with fixing and selling. Buyers looking for fixers will deduct the cost of repairs and time expenses from their offers. It also helps to know the estimated closing costs for sellers to evaluate the offers on your house.

• ‘As is’ buyers aren’t the majority of home shoppers. In fact, the pool of buyers who want fixers is limited. This makes the task of marketing your house more difficult.

How does selling a house ‘as is’ work in Oregon? You have a number of options. Let’s begin with selling to a cash real estate buyer in Oregon.

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

How do I go about selling my house ‘as is’ in Oregon to an investor?

Before we get into the details of selling your house to an investor, let’s introduce the people who do business by investing in real estate.

Who Are Cash House Buyers?

Individuals and companies buy investment property in Oregon with cash rather than home loans. They use their own cash or pool cash in buying collectives like hedge funds to buy houses.

Real estate investors in Oregon who pay cash buy homes that need repairs to rehab and keep for investment purposes.

They also buy ‘as is’ houses to fix and then resell to other buyers who want to purchase a turnkey property. This is known in the real estate industry as “flipping” a house.

Some cash investors operate firms that focus on buying real estate for rental income. These companies buy current rentals. They also purchase homes and convert them into rental properties.

Cash buyers can assist homeowners when they must move quickly to sell a home. These include:

• property owners selling a home to avoid foreclosure
• heirs selling real estate in probate
• empty nesters selling a large home
• residential borrowers requiring a short sale
• transferred workers selling a house for job relocation
• homeowners selling a house that needs work
• couples selling a marital property before divorce
• owners selling a house with property taxes owed

Cash buyers typically work with investor-friendly title companies in Oregon.

These title companies have experience working with investors who want to purchase houses with title issues or liens on the property. These title defects are known as “clouds” on the title.

There are numerous benefits to selling your home to a real estate investor.

Pros of Selling Your House As Is Directly to an Investor

• Selling to a cash house buyer is a speedy sale. Escrow typically takes a week, sometimes just days to close with a cash house buyer.

• A mortgage loan means the buyer needs to apply and qualify for the sale amount. The property then must get inspected and appraised at the sale price. And, finally, an underwriter must approve the loan. All these steps add hassle, paperwork, and waiting to the process.

• When you sell to an investor, you won’t have to pay the seller’s real estate commissions. This is significant. Oregon real estate commissions average 5-6% of the home’s sale price. That’s a huge savings when you represent yourself and sell to an investor.

• Investors generally pay their closing costs and also pick up the seller’s tab for the closing costs. That means significant savings for the seller.

There are a few drawbacks to an investor sale. Let’s consider those now.

Cons of Selling Your House As Is Directly to an Investor

• Investors typically don’t pay market value for houses. They need to buy cheap and sell for a higher price to make a profit.

• You’ll be without professional representation of a real estate agent when you sell an Oregon house in ‘as is’ condition to an investor. Of course, you can hire an agent, but in this case, paying them a commission on top of selling below market value to the investor will be too expensive.

So, where do you look to find cash buying companies, and how can you receive offers from investors?

Finding the Best Cash House Buying Company

Locating investors is easy, and searching is as close as your computer. Use these search terms to find cash house buying companies in your area. Substitute your city to find local investors.

If you live in a rural area, use the closest large city for your search.

• we buy houses Portland OR
• sell my house fast Portland OR
• cash house buyers Portland OR
• sell my house for cash Portland OR
• iBuyer companies Portland OR

After you’ve found a few potential investors, it’s time to vet these people and companies before you request a cash offer on your home.

How to Choose an Ethical Investor?

Start your research by locating the “About Us” page on the investor or company website.

If the website doesn’t include information that introduces the investor or the firm’s principals, it’s time to move on to other investors.

Look for companies with at least three years of investment experience. That provides enough time for the investor to understand the details of the process and have a record of successful closings.

Check the local branch of the Better Business Bureau (BBB) for any complaints filed against the firm or the investor. Many branches post these complaints on their websites.

Companies and investors need not be bureau members to have complaints filed with the BBB.

This takes time and effort, but to speed up the process, you can start by requesting a cash offer from HouseCashin.

HouseCashin has done the research for you by pre-screening and vetting the partner firms and investors.

With just a few clicks, you can have offers from up to five local investors. There’s no fee for the offers, and you’re not committed to selling.

If you’d like to see the offers now, request a cash offer on your house.

If you want to explore more selling options before asking for offers, the next way you can sell your house in Oregon is by marketing your house to non-investors yourself.

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

Selling your home yourself is known in the industry as an “FSBO” or “for sale by owner”. Operating as an FSBO, you’ll need to handle all aspects of the sale, including pricing your home.

When listing as a FSBO, taking the time to estimate your home value is a crucial first step. It gives you an idea of what your property is worth in the current market, helping you set a price that’s competitive yet fair.

Next on your list of FSBO to-dos is finding your target buyers. Locating buyers for your house is one of the most challenging aspects of an FSBO sale. The more eyes on your listing, the more chance it will sell.

Fixers aren’t always high on the list for potential buyers, so you’ll want to post your listing in a number of places to have a large pool of prospects.

Where Can You List a House For Sale by Owner?

First of all, the best FSBO websites offer an effective way to list your home on a number of internet sites. Most of them are free to post, but some charge a nominal fee for particular features.

One more easy marketing technique is to put a sign on your property. This works best in an area with a significant amount of foot and vehicle traffic.

Making up a flier or handbill with some basic information about the property also works well to attract potential buyers.

Distribute the fliers to neighbors and local businesses. Neighbors might have family or friends who would like to live close. Workers at nearby companies might want to move close to work.

Pros of Selling Your House by Listing It by Owner

• The most significant advantage to selling as an FSBO is the commission savings. Going it alone means you’ll skip the 2.5-3% average Oregon commission fee. That amount is calculated on the home’s sale price, so it can be significant.

• You are your own boss when selling by owner. You set your sale calendar, decide on a price and when you want the sale to close.

• You can spend all your time and effort on your house since you don’t have any other clients that take your time and energies away from marking your house.

Cons of Selling Your House by Listing It by Owner

• If you aren’t selling to a cash buyer, many of your buyers will need a mortgage loan to purchase your property. The applications and approvals can take weeks to complete before the sale can close.

• If you don’t have experience in real estate, selling without an agent means you’re responsible to represent your best interests in the sale. You will be your only fiduciary. It helps to be well-schooled in FSBO closing costs when working without an agent.

• Selling a house in Oregon yourself can end up as a costly misadventure. Delays happen when you need to move and must research what you need to do. Errors can also mean your buyer walks away from the sale. You might even end up in court when your errors are major — even when they’re unintentional.

If selling by owner seems like a chore you don’t want to take on, the final option is to hire a real estate agent to represent you. We’ll cover that selling avenue in the next segment.

Who Are Real Estate Agents?

Real estate agents are licensed professionals who help guide people through the home sale. Agents work under a supervising broker to ensure specific legal requirements are met.

Prospective agents must take courses on real estate law and contracts to qualify for an Oregon license to engage in real estate sales.

Most agents focusing on residential real estates work with both buyers and sellers, but some agents focus on rental housing.

Real estate agents assist sellers in deciding on a property price.

Agents are also responsible for marketing the house, taking charge of the negotiations when an offer is presented, and guiding the seller through the legal requirements to complete the sale.

“Realtor” is a term used by agents and brokers who have membership in the National Association of Realtors (NAR) and the Oregon Realtors.

These are trade associations for real estate professionals.

The NAR has regulations and continuing education courses for members to maintain high standards of professionalism. They also help police agents who fail to meet ethical standards.

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

• Realtors have access to a database of prior home sales in your area. That information helps you and your agent set a price that allows your house to sell and also brings you the most money for the sale.

• Realtors are your fiduciary. They take an oath to put your interests first above all others in the transaction.

There are also a number of disadvantages when listing your house with a real estate agent.

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

• The major disadvantage of selling is the commission paid to your agent. The Realtor costs when selling a house are the lion’s share of the Oregon closing costs.

• Selling with a real estate agent may not be the fastest selling route. Agents have a list of other clients — both buyers and sellers. These clients also take time from your agent that isn’t spent marketing and selling your house.

• Residential real estate agents typically work with traditional buyers who need mortgages to buy your house. Loan processing typically requires weeks of delay.

How to Choose an Ethical Real Estate Agent?

The easiest way to locate an ethical agent is to ask your friends and family for their recommendations.

Vet these agents to make sure they have experience selling fixers and select those that are familiar with the details of your neighborhood.

Check for any complaints filed against the Realtors on your prospective agent list.

You can do this by contacting the local association board that oversees the area where your sale house is located.

Do the same for the local branch of the Better Business Bureau. The BBB also accepts consumer complaints and attempts to mediate them.