As-is doesn't mean you can hide defects. In most states you still have disclosure obligations — known material defects must be disclosed. What as-is means is that you won't be making repairs in response to a buyer's inspection findings. The buyer accepts the property in its current state.
Investors buy as-is by design. No inspection contingency renegotiations, no repair requests, no financing falling through at the appraisal. Close in 14–21 days. You accept a discount — typically 20–35% below retail — in exchange for certainty and speed.
List on MLS priced to reflect the condition. Attract retail buyers who want a project or investors looking for MLS deals. Wider buyer pool than a direct investor sale, potentially higher price, but slower and with more friction. Buyers can still do inspections — they just can't demand repairs.
Investor pricing formula: (ARV × 0.65–0.70) − Estimated Rehab. If a property in good condition would sell for $350,000 and needs $60,000 in work, an investor might pay $175,000–$185,000. MLS as-is pricing is typically higher — $240,000–$270,000 — because retail buyers with renovation loans (203k, renovation mortgage) can pay more.
Dan White is a licensed Virginia real estate agent at Pearson Smith Realty and founder of FreeDealCalc.com. He has been investing in real estate for 20+ years.