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May 28, 2022
Home Inspection Deal Breakers in Virginia
When a potential home buyer makes an offer on a property, it’s usually contingent on a home inspection. As long as there isn’t anything major wrong with the home, the buyer should move forward with the purchase. If there are major issues that turn up during the inspection, they can be handled in one of two ways: either you make the repairs or you issue a credit for the repairs.
However, sometimes home inspections in Virginia turn up significant problems that can kill your sale. Let’s explore what these deal breakers are, why they scare buyers away and what you can do about them.
Home Inspection Issues that Can Squash Your Virginia Home Sale
Most issues in a home inspection report are easy to negotiate. But there are some that can affect the structural integrity of the property, and these are more difficult to work through. If any of these problems turn up in the inspection, you’ll need to address them.
Your home’s foundation is a critical system. If your foundation fails, it can cause a number of problems such as water damage, mold, cracked walls and jammed doors and windows. Foundation problems caught early are easier to fix. But those that are further gone may require a structural engineer and tens of thousands of dollars.
Your best bet: Find out the extent of the damage and your repair options. Minor issues can be easily addressed.
Minor roof problems are typically no big deal and can be addressed through a simple repair. However, if roofing problems are ignored, they can lead to bigger problems such as water damage, mold growth and structural issues.
Even though many people don’t care to replace the roof when they’re moving, this could be something you need to do to sell your house fast in Virginia. If there is damage to your roof that came from an act of nature, your insurance may cover a roof replacement.
Water intrusion can come from a number of issues, such as foundation settling. But it can also be caused by improper lot grading or design flaws. Virginia properties with basements also tend to have more issues with water.
Because water can lead to extensive damage and hazardous mold, most buyers don’t want to deal with it. You’ll need to address the vulnerable parts of your home and pay for repairs, which may involve waterproofing your basement.
Termites are common in many parts of the country, including here in Virginia, so you can’t rule them out entirely. If caught early, termites can be successfully treated by a pest control company. However, if the problem is overlooked, the damage done to your home can be significant.
Termites feed on wood and can create a large infestation that’s difficult to eradicate. If there are signs of termite activity in your home, consult with a professional termite specialist. They can determine the damage and how to fix the problem.
Skip the Inspection – Sell Your House in Virginia Today!
These are just a few of the things that can squash your home sale. Other concerns include electrical problems, plumbing problems, asbestos and lead paint. If your home has one or more of these issues, you may be concerned about your options to sell.
For a free, no obligation cash offer, contact 4 Brothers Buy Houses today. We don’t require an inspection, and we don’t ask sellers to make any improvements or repairs. We buy houses in as-is condition, and we will buy yours, too!
May 20, 2022
5 Great Reasons to Sell Your House for Cash in Clinton MD
The number of house buyers in Maryland who prefer to pay in cash is growing, but the majority still need financing. If you’re planning on selling your property in the near future, you might be wondering how you can appeal to cash buyers, as they do offer a number of advantages. For example, you can sell your house much faster and avoid costly repairs.
Not to mention, some cash buyers are getting closer to offering market value, so you might not have to take much less to sell your house for cash. It’s a competitive market, and a seller’s market at that, so the cards are definitely in your favor.
Below are five great reasons to sell your house for cash in Clinton MD.
You’re in a rush.
Selling your house for cash is a much faster process than waiting for the buyer to secure financing. 4 Brothers Buy Houses can complete the process in about two weeks from start to finish – it takes around 7 to 10 days to close once you accept the offer.
Most lenders, on the other hand, need about 30 to 45 days to finalize the details of the loan. And if there are problems, it will hold up the process further. Bottom line: If you’re in a hurry to sell your Clinton property, a cash sale will meet your timeline.
You want a secure sale.
Even though the majority of home sales go through, it’s not unusual for buyers to back out of the contract. Perhaps they weren’t able to secure financing, or they weren’t comfortable dealing with certain issues that turned up during the inspection.
Cash buyers in Clinton MD are much more secure. They usually do not require an inspection, appraisal or home sale contingency. And if they do inspect the property, it’s usually for informational purposes only. This gives you the peace of mind that they won’t back out.
Your home needs a lot of work.
If you’re overwhelmed with prepwork, the thought of getting your home on the market can be daunting. From costly home repairs to cleaning and organization, it could take months to get your home listed.
Cash buyers in Clinton MD often look for homes that need work. For instance, 4 Brothers Buy Houses loves to take on projects that average home buyers would not. We have a great network of contractors who fix up the properties we buy, so we never mind the challenge!
You would prefer not to have showings.
Some people aren’t comfortable having strangers in their home, and that’s understandable. Plus, to make a positive impression on prospective buyers, you have to clean, organize and stage the home.
If you’re not prepared to do these things, a cash sale is an option you’ll be happier with. There is only one showing you need to do, and that’s for our cash buyers. We’ll be in and out in no time – we just want to see what we’re investing in!
You need quick access to cash.
If you’re struggling to pay your mortgage or other bills, an all-cash offer can give you the money you need to get out of a financial jam. Again, it takes about two weeks to complete an all-cash home sale. This means that you could have the money you need to pay off your debts by the time the next billing cycle rolls around.
These five reasons are great motivations to sell your Clinton MD house for cash. To get a free, no obligation cash offer on your property, contact 4 Brothers Buy Houses today.
May 15, 2022
Disclosure Obligations When Selling Your Washington DC House As-Is
When selling a house in Washington D.C., there are certain things you must disclose to the buyers, even if you’re selling the property as-is. While disclosure documents are standard in all states, the requirements do vary.
For example, in Washington D.C., buyers cannot waive their rights to receive a disclosure document. Fortunately, the D.C. Disclosure Statement includes all disclosures that sellers must make, including physical and environmental factors.
Let’s learn more about what disclosures a seller must make when selling their house in D.C.
Washington D.C.’s Seller Disclosure Code
Under the D.C. code, the seller of a residential property with no more than four units must give prospective buyers a property disclosure statement. Even if the seller has a real estate agent or broker, it is still their responsibility to fill out the disclosure statement.
The D.C. Disclosure Statement covers a number of items. It’s important that sellers fill out this form to the best of their knowledge and in good faith. Hiring an inspector can help uncover issues that the seller may not be aware of.
What Types of Things Must Sellers Disclose in Washington D.C.?
If you are planning to sell your D.C. property, it’s important to know what to disclose so that you’re not held liable later on. Even if you are selling your house as-is, you still need to fill out this form to the best of your knowledge. Selling a property as-is means that you’re not responsible for repairs or improvements. But you are still responsible for disclosing information regarding your property.
The D.C. Disclosure Document will ask about your property’s features and their condition, such as the roof, chimney, insulation, windows, HVAC system and appliances. It will also ask about exterior or environmental issues like drainage, property damage and wood-destroying pests. Toxic substances are also a concern, so you’ll need to list the presence of radon, asbestos or formaldehyde.
Additional disclosures you may have to make are:
- Death in the home related to a violent crime
- Neighborhood nuisances like landfills or airports
- Homeowners’ association (HOA) information
- Repair history
- Water damage
- Missing items
- Historic district location
Sell Your Washington D.C. House As-Is
4 Brothers Buy Houses will pay cash for your Washington D.C. property. While you will have to fill out a Disclosure Document, the findings will not scare us away! Because we buy houses as-is, we will not ask you to make any repairs or improvements. It’s a clean transaction between you and our cash buyers.
To get a free cash offer on your Washington D.C. house, contact 4 Brothers Buy Houses today!
May 5, 2022
The Pros and Cons of Inheriting a House in Virginia
Inheriting real estate in Virginia is a great feeling – and it can be the financial windfall you’ve been hoping for. But it can also mean a long list of headaches that you’re not prepared for. This is why it’s important to think through all of your options so that you can make an informed decision for yourself today and in the future.
I’ve Inherited a Property in Virginia. Now What?
When you find out that you’ve inherited a house in VA, you have three main options: move in, sell or rent. Which option you choose depends on many factors, such as your current living situation, your finances, whether you have siblings, the physical condition of the house and whether the property has a mortgage or liens.
Some of the things to consider are:
- Capital gains tax. You do not have to pay capital gains tax if you keep the property, but you may have to if you sell the property.
- Property taxes. How much are the property taxes on the current property? These are paid monthly or twice a year, even if the house is paid off.
- Mortgage. Does the property have a regular mortgage or reverse mortgage? You may have to pay this immediately.
- Repairs. What condition is the house in? It could need extensive repairs and improvements.
- Property maintenance. Aside from making repairs and improvements, you will need to regularly maintain the property by mowing the lawn, adjusting the thermostat, etc.
- Homeowners insurance. You’ll need to make sure the house has a standard homeowner’s insurance policy.
Benefits and Burdens of Inheriting a VA House
First, let’s cover the benefits of inheriting a home. Fortunately, there is plenty to celebrate. An inherited property is a financial windfall that can be used for spending or saving. You can also move into the house, which could be a step up from where you are living now. Or, you can rent out the property for a steady stream of income.
However, there are many problems that come with an inherited house that people often aren’t prepared for. It could involve negotiations with your siblings or other heirs and increased legal and financial responsibilities. The latter gets even tricker when the property is in poor condition and needs repair work.
Selling Your Inherited Property in VA
If you and your siblings agree, you can sell the VA house for cash and split the money. This is the fastest, easiest and often fairest way to handle things. You don’t need to invest any money or time into the property, and you don’t have to worry about who is going to take care of the house when it needs work.
To get the ball rolling, all you need to do is contact a house buying company like 4 Brothers Buy Houses. We will make you an attractive cash offer, and if you accept, we’ll start the closing paperwork right away. Not only do we pay cash, but also we buy properties as-is, pay most closing costs and charge no fees or commissions.
To get a free cash offer on your inherited property in Virginia, contact 4 Brothers Buy Houses. As long as everyone on the property agrees, we can buy your home and complete the process in just TWO weeks!