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January 31, 2022
Selling a Brentwood MD Home with Termite Damage
Not everyone is aware that their home has termites. While there are some easy signs to look for – small pinholes, bubbling paint, discolored drywall – they can be easily missed. So what happens when it comes time to sell your home in Brentwood MD and you find out that you have a termite infestation?
In the state of Maryland, you are legally obligated to disclose information about termites to the home buyers. Once they find out about the pest problem, there’s a strong possibility that they will back out of the sale. Because of the destructive nature of termites, most new home buyers want nothing to do with them.
Now, this doesn’t mean that you can’t sell your home in Brentwood, but it does mean that your options are more limited. Let’s discuss what options you have and the best ways to sell a home with termites.
Selling a Brentwood Home with Termites: What are Your Options?
There are three main options when selling a Maryland property with termite damage. No option is necessarily better than the other. It all comes down to what works best for you.
Option #1. Repair the Damage
If your home is in otherwise good condition, and the infestation is small, it may be worth it to pay to repair the damage. This way, your home will be as good as new, and you can sell it for full price.
But, there are a few things to think about. First, you can’t repair the damage until all of the termites are gone. Average termite treatments are around $550, though this does depend on the size and progression of the infestation. Severe infestations can cost a lot more.
Second, you’ll need to cover the cost of the repairs, which can be extensive. If the termites got to the walls, floors or other structural components of the home, you could be spending thousands upon thousands in repairs.
Option #2. Sell the Home with Damage
Your next option is to sell your Brentwood property with the damage. You’ll need to be upfront and honest about the infestation and the damage that has been done.
For obvious reasons, your buyer pool will be much smaller. However, if you sell your home as-is or at a deeply discounted price, you may get more offers than you think. And, some buyers won’t mind tackling the damage when they update the home in exchange for a discount.
Option #3. Sell Your House to a Cash Buyer in Brentwood
For some sellers, it makes sense to close the chapter on their current property and sell it as-is to a cash home buying company. These companies pay cash for homes in any condition, including those that have pest damage.
The benefit to working with a cash buyer is that they often intend to remodel the home, so they’ll be replacing floors and knocking down walls. Taking care of a termite infestation isn’t as big of a deal at this point, and they often work closely with local contractors who handle these issues.
Get a Free Cash Offer on a Home with Termites
No matter how you choose to sell your home in Brentwood MD, make sure that you are open and honest about the infestation. This will hold you within your legal rights and make the sale go more smoothly. For a free cash offer on your property, contact 4 Brothers Buy Houses today. And yes – we’ll buy your house with termites!
January 24, 2022
Is 2022 a Good Time to Sell Your Virginia Home?
According to housing market experts, 2022 is predicted to be another year of rising home prices and high demand. Last year, many Virginia buyers experienced a whirlwind of chaos in the real estate market. Many found it difficult to put in an offer before the home went into contingency.
As the demand continues, the current housing shortage is expected to linger throughout 2022. It’s a sellers market with many buyers still hopeful to move, but the lack of homes on the market is causing prices to skyrocket.
If you are still debating whether or not to sell this year, we can help you sort through your reasons to sell and reasons to wait.
Reason to Sell #1: Interest Rates Are Rising, But Remain Low
Realtor.com is predicting that mortgage interest rates will continue around 3.3% in the new year, but eventually rise to 3.6% by the end of 2022. One of the main reasons why rates are expected to increase is due to inflation as a result of the Covid-19 pandemic.
While the rates may increase, rates will still be considerably low from a historical perspective. Many buyers who were pushed out of the market in 2020 and 2021 due to housing shortages may decide they are willing to pay more for housing in order to lock in historically low rates.
Reason to Wait #1: You Recently Refinanced
If you recently refinanced your Virginia home, there may not be a reason to sell quickly, especially if you lowered your monthly payments. If you haven’t refinanced your home yet, but have felt the push to sell with the current market, you may want to consider refinancing. Refinancing can be a helpful alternative to locking in lower mortgage rates as a homeowner.
Reason to Sell #2: Take Advantage of Buyer Demand
If you live in an area in Virginia where home prices are on an upward swing, and bidding wars are happening all around you, selling your home may be the right move. Since buyer activity is high, the demand is only expected to increase.
According to Realtor.com, the average sale prices for homes aren’t expected to climb as dramatically as they did in 2021, but the demand remains steady. There are plenty of buyers who missed out on buying in 2021, as well as many new buyers who are entering the market. With all of the unknowns that the future holds, the demand for housing is something that will stay consistent.
Reason to Wait #2: You’re Concerned About Buying
Virginia’s real estate market is good for sellers. But if you plan on buying something, you may struggle. To expand your choices, you can look at new construction homes. Unfortunately, there are consistent delays due to supply chain issues and labor shortages, and materials like lumber are at all-time highs. A better option may be to rent for the time being.
Reason to Sell #3: You Must Move!
To put it simply, if you need to move, it is still possible to sell your Virginia home fast while finding a new one… It may just take a little extra effort on your behalf to stay on top of housing opportunities and bidding offers. If you are a first-time homebuyer and need to buy, you may not see many entry-level prices available due to the ever-rising prices, but they are out there! Be ready to get competitive and find an assertive agent!
Reason to Wait #3: Financing May Be Denied
Since the pandemic, many people have been experiencing employment instability. Add that to the mix of the insane market prices, and you have the perfect storm of possibly being denied financing. If the funds aren’t there, waiting to buy may be a smart move on your part.
Don’t base your decision solely off the fact that it’s a seller’s market. The real estate market naturally ebbs and flows and continually goes through cycles. Selling before you’re ready on the finance-side of things may end up putting you in a bind if you are unable to be approved for your next purchase.
If you are leaning towards selling your home in 2022, but don’t have the financial means to put the work into getting your home “market-ready”, call 4 Brothers Buy Houses! We specialize in flipping houses and will buy your home AS IS! Contact us for your FREE cash offer today!
January 21, 2022
Tips for Selling a College Park Property with Existing Tenants
Selling a College Park house is a complicated process in itself, and unfortunately, selling a property with existing tenants can add an extra bump in the road. But selling a property where there is a current tenant is possible!
However, you must remember that tenants have rights through their lease, so you will want to familiarize yourself with the rules you have to follow. In Maryland, it is legal to sell your rental property with the tenants still living there, though you will have to give appropriate notice.
While marketing a property and holding showings tend to go more smoothly when there is no tenant, there are ways to work around the situation. In fact, depending on the situation, having an existing tenant might actually be a benefit for some buyers.
Overall, you want to be strategic in selling your property with tenants so that you don’t turn away potential home buyers in College Park. Below we will cover six easy tips for selling a property with existing tenants!
1.) Make Showings Convenient
A simple way to make sure a showing goes smoothly with an existing tenant is to let your agent know that your tenant needs a 24-hour notification. Have a conversation with your tenant about their schedule. If there are times that don’t work for them, give these times to your agent. Always keep in mind that a notice for entry is required by the governing lease!
2.) Ask Tenant to Leave for Showings
Asking the tenant to depart from the property during a showing will make it less awkward for a potential buyer. This is especially important if your tenant is upset about the impending move. You don’t want negative energy or comments from the tenant to deter a buyer from putting in an offer. If your tenant is grumpy about having to vacate during showings, offer them a gift card to a local coffee shop or restaurant to visit while the showing is taking place.
3.) Keep Property in Viewing Condition
Remember that a move is never easy on anyone, so if you are asking your tenant to move out, keeping the property tidy may not be at the top of their to-do list. Offer to hire a cleaning or yard service while the property is on the market. Since your tenant doesn’t have any stakes in the selling of the property, it will be on you, the seller, to take responsibility in keeping it in show-ready condition
4.) Aid in Helping Tenant Find New Residence
If you are asking your tenant to move out, and it comes down to it, you may need to help them find another place to live. Maybe you own another investment property in Maryland, or you know of someone else who has an opening. Surely there are plenty of other great properties to call home!
5.) Make Sure Tenant is Caught Up on Rent
A tenant delinquent on their rent payments is not exactly a great selling point. If your tenant is not up to date on their rent, notify them regarding payment as soon as possible. Another option could be to forgive the delinquent payments in exchange for the tenant to move out. Lastly, court action leading to eviction is also an option if the tenant refuses to make the payments.
6.) Market the Property in Two Ways
If your tenant is definitely planning on living on the property until post-closing, depending on the layout and size of the property, you may want to consider posting it as both a primary residence and a potential investment property. You can then let the buyer decide how they want to use it!
Get a Cash Offer on Your College Park Rental Property!
Overall, you want to make sure that your tenant is as happy as possible to avoid the chance of them breaking a sale. If a tenant decides they want to prevent showings from happening, selling your property could be put on hold.
Try your best to ease the situation by communicating openly and offering financial incentives. Respect that your property is your tenant’s temporary home, and be understanding towards them during the selling process.
If you’re struggling to sell your College Park rental, contact 4 Brothers Buy Houses. We’ll buy your home AS IS for cash – even with the tenants still there!
January 7, 2022
5 Tips For Moving and Packing in Washington DC
Aside from the excitement of moving into your new home, there’s not much to look forward to when it comes to moving. Most people would call moving a headache, but that doesn’t mean it needs to be a miserable process! Having a plan in place can help make some of the most tedious tasks of moving and packing more efficient and easy.
If you’re planning to sell your house for cash in Washington DC, you can expect the process to move quickly! 4 Brothers Buy Houses typically closes on properties in two weeks. Below are some of our best tips to help make moving a success!
1.) Have a Game Plan
The most helpful thing you can do for yourself is create a plan for the weeks ahead. You’ll want to outline what you need to accomplish and the order of events on the day of the move. Keep everything in one notebook or folder.
Make an outline that shows which rooms are a priority to pack, and what items you will want to leave out of boxes until the last minute. Using an outline format allows you to check off bullet points as you accomplish them. This shows that you’re making progress!
2.) Hire Movers
When it comes to hiring movers in Washington DC, you will want to schedule them as early as possible so you can lock in your moving day. The movers will want to know how big your house is so that they have an idea of how much stuff you are moving.
Depending on how much time in advance you book your movers, you may want to consider moving in the middle of the week or month, as these rates tend to be cheaper. Also, make sure to have some cash handy to tip your movers, since this cost isn’t included in the moving fee. You can base the tip on the total you are quoted.
If you are planning on moving yourself without the help of movers, make sure you rent your truck early so you can have it secured for the day of the move.
3.) Free Boxes and Packing Tips
Purchasing a plethora of boxes is just another expense you don’t need. Instead, save money by checking with your local stores to see if they have any boxes they are looking to get rid of. You can also check on places like Facebook Marketplace for people who are getting rid of boxes from a recent move.
While you are packing, label your boxes according to which room you want the movers to place them in in your new home, and make sure you write “fragile” on any boxes containing breakable items.
You may also want to start a donation box or a box of things you plan to toss out before you move. The goal is to move only what you need to, and this is a great opportunity to get rid of extra junk lying around your house that you won’t want to bring into your fresh start!
4.) Disassemble Furniture Ahead of Time
If there are pieces of furniture that you know your movers will want to disassemble before moving, try to do it yourself ahead of time. This will save time and effort for the movers, which saves you money since movers typically charge by the hour. Also, moving days already tend to be long and drawn out, so saving time where you can helps the day go by quicker!
5.) Pack an Essentials Bag
Once all of your boxes are packed and in transit, you won’t have access to them for most of the day. This is why you should pack a bag of essentials for moving day and the day after, just to be safe. An essentials bag can include things like toiletries, a change of clothes, medications, food items and kitchen utensils. You want to make sure your essentials bag is easily accessible and not on a moving truck!
Although moving can be time consuming, it doesn’t have to be overwhelming! Follow these five tips and tricks to help your Washington DC move run smoothly!