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June 20, 2021
Most buyers are aware that when they purchase a new home, they have to come to the closing with something. In general, all costs related to the loan are paid by the buyer. But what surprises many people is that the seller also ends up paying closing costs – often times more than what the buyer pays!
It’s true – sellers in District Heights, Maryland pay fewer expenses but pay more at closing because they are responsible for the real estate commissions for both agents, which usually amounts to 6 percent. There are some other fees as well, which we’ll discuss below.
If you want to sell your home without closing costs, contact 4 Brothers Buy Houses today. Our cash home buyers can typically close in 7 to 10 days – and we cover most closing costs. This is the best way to get the most money in your pocket.
What are Typical Closing Costs in District Heights?
Closing costs typically range from 3 to 6 percent of the home’s purchase price. For buyers, closing costs make sense. After all, you’re taking out a loan and must pay the fees that go along with it, including application fees, attorney fees and underwriting fees.
Sellers, on the other hand, are often blindsided by the closing costs they have to pay. As the seller, you are responsible to pay off all loans on the property to clear the title. You must also cover the commission for both agents, and bring extra to the table if you don’t have equity in the home.
As the seller, here is a list of fees you can expect to pay at closing:
- Fees for the buyer’s title insurance policy
- Mortgage payoff and prepayment penalty
- Outstanding amounts owed on the property
- Seller’s attorney fees
- Transfer taxes and recording fees
Additionally, the buyer may ask you to pay some or all of their costs. This isn’t as common in a seller’s market, but it’s definitely something to be aware of!
Is There a Way to Sell a Home in District Heights without Closing Costs?
Want to keep more money in your pocket? We don’t blame you! Fortunately, you do have options to sell your District Heights home without having to pay closing costs. When you sell your home to 4 Brothers Buy Houses, we will cover most or all of your closing expenses.
Our home buying company is honest, ethical and well-respected in District Heights and the surrounding areas. We pay cash for homes and we take them in as-is condition. No matter how rundown or distressed your property is, it’s worth something to us! Once you receive an offer, we can close in about one week.
There are absolutely no fees to use our services, and we cover most closing costs. To get your free cash offer, contact 4 Brothers Buy Houses today. We work quickly and efficiently to get homes in District Heights sold fast and for top dollar!
June 11, 2021
One of the biggest perks to selling a home for cash is that you can close very quickly. Typically, you can expect closing to take 30-45 days in a traditional sale. But in a cash sale, closing usually happens within a week. Why is there such a big difference, and can you expect the same hassle-free process yourself?
Let us walk you through the steps it takes to close on a home when working with cash home buyers in Washington DC.
Closing on a Washington DC Home in a Cash Sale
When you sell your home to a cash buyer in the DC area, you are eliminating the entire lending process. There are no showings, appraisals, inspections or last-minute underwriting problems. The transaction is between you and the buyer.
Here is the timeline you can expect:
The initial consultation can be done over the phone and involves gathering basic information about your property. At 4 Brothers Buy Houses, we like to know what situation you’re facing, your home’s condition and your closing expectations. It’s a quick call and there is absolutely no obligation to continue.
The only ‘showing’ you’ll have to do is a quick evaluation. Don’t worry about tidying things up – our investors are looking at the bigger picture. They’ll take a few measurements and look at the basement and attic. This information is used to get an accurate estimate on the work that needs to be done.
An offer is made soon after the evaluation. 4 Brothers Buy Houses always provides fair and honest offers. We usually pick up all closing costs as well. Once we agree on a price, we can get started with the closing paperwork, including a contract you can sign electronically.
When the contract is signed, you’ll get a copy of it. Another copy is sent out so a title search can be done and your closing can be scheduled. If there are issues with the title, it will take longer to close.
Now for the fun part – the actual closing! Usually this happens within a week and we take care of all the details. This is far less time than the 30-45 days it takes in a traditional closing. At this time, you’ll get a cashier’s check or have the funds transferred to you electronically.
As you can see, cash sales are simple and streamlined. If you can benefit from a fast sale on your Washington DC property, contact 4 Brothers Buy Houses today!
June 9, 2021
If you think your home is too ugly or run down for anyone to pay for, think again. While the average buyer will likely steer clear of a home that needs a lot of work, cash investors are different. These buyers purchase homes in all conditions, sizes and locations. They can save you an incredible amount of time because you don’t have to prepare your home for the real estate market.
4 Brothers Buy Houses is a home buying company that buys homes in Maryland, Virginia and DC. No home is out of our reach. With our experience and professional network, we’re comfortable taking on the most distressed properties. If you have a home to sell in MD, VA or DC, give us a call today for a free, no obligation offer!
What Does ‘As-Is’ Mean in Real Estate?
In real estate, an as-is property is one that is listed for sale in its current state. If there are any issues or problems with the home, they will not be addressed by the seller like they would in a traditional sale. In exchange, the buyer is usually given some type of discount.
Some of the most common reasons why people sell their homes as-is are:
- Faulty or leaky roof
- Mildew or mold problems
- Termite damage or infestation
- Structural issues
- Foundation problems
- Chinese drywall
Types of Houses that Cash Buyers Purchase
Wondering what types of properties cash buyers in MD, VA and DC are most interested in? Here are a few examples:
Houses that need major repairs
Believe it or not, cash investors are drawn to houses in bad shape. They’re going to renovate them anyway so it’s not a problem if things are outdated or in poor condition. And with their extensive network of professionals, cash home buyers aren’t afraid to take on homes that have more serious issues like uneven floors, bowed walls, fire damage or water damage.
Houses that need cosmetic work
Eyesores like peeling wallpaper, stained carpet and old cabinets can be overwhelming to one person. But house buying companies like 4 Brothers Buy Houses have a team of experts that will come in and tackle all of these issues. In fact, if you have an inherited home you’re trying to sell, you can leave the furniture and belongings to us!
Houses in undesirable neighborhoods
Some neighborhoods are not desirable to typical buyers. If your home is located in one, it could take a lot longer to sell. Aside from high crime rates, the average buyer also stays away from neighborhoods near airports, factories, train tracks, waste disposal areas and government housing.
Bottom line: Cash home buyers in MD, VA and DC truly buy homes as they are. They will take on everything from major repairs to moderate cosmetic work. To get a free cash offer from 4 Brothers Buy Houses, contact us today.