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July 22, 2021
TOPA Policies: Selling a Property with Tenants in DC
Tenant Opportunity to Purchase (TOPA) policies allow tenants to purchase the property they’re living in before it’s put up for sale. This anti-displacement tool is designed to protect renters, preserve affordable rental housing stock and stabilize low-income households. Under this policy, landlords must let their tenants know that they intend to sell the home or building.
In return, tenants are given a reasonable timeframe to purchase the property. If they don’t want to move forward, they will at least have time to work out other living arrangements. TOPA policies are being proposed in multiple states, but the nation’s oldest and most comprehensive TOPA program is right here in Washington DC.
If you are looking to sell your rental property in DC but still have tenants living inside, you may have questions about TOPA and what this means for you. Below we provide a breakdown of TOPA and the things to know, but feel free to call 4 Brothers Buy Houses for more personalized information.
What is TOPA in Simple Terms?
In Washington DC, rental property owners must be aware of their tenants’ special rights before selling their property. In terms of TOPA, it is your obligation to offer your property for sale to your tenants first. This allows your tenants to take advantage of the sale and purchase the home they are living in.
If you don’t hear anything after 30 days from contacting your tenants, you can move forward with the sale. If a written offer is received, however, the tenants will have 60 days to negotiate a contract and secure financing.
Selling a Rental Property in Washington DC
As long as your tenants don’t want the property, you can move forward with the sale. You can do a conventional sale, especially if the property is in good condition. But more often than not, rentals need some TLC to get them ready to sell.
If you’re not in a position to put time and money into selling your rental, a better option may be to sell your home for cash. And, this could work out in your favor because according to TOPA laws, you have to restart the process if you don’t find a buyer within 180 days. This essentially gives the tenants another chance to purchase the home.
By selling to a cash investor like 4 Brothers Buy Houses, you can sell your property within a week and not have to worry about TOPA laws.
4 Brothers Buy Houses Will Buy Your Rental Property
Property owners in other states like Maryland and Virginia are usually in a better position than those in Washington DC. But if you’re in DC, you’ll have to follow TOPA laws before selling. 4 Brothers Buy Houses is familiar with these laws and how to make your sales transaction go quickly and smoothly. Contact us today to learn more!
July 1, 2021
Sell Your Price William County Home in Just One Week!
Selling a home is not easy, even in a seller’s market. Today’s buyers expect homes to be in move-in ready condition with plenty of upgrades. In fact, many sellers spend thousands of dollars to stage their homes! But if you’re looking to bypass these details and sell your home as-is, a cash sale in Prince William County, Virginia might just be the solution you’re looking for.
What Does it Mean to Sell Your Home for Cash in Prince William County?
When a cash buyer offers to buy your home with no mortgage or financing involved, this is considered a cash sale. The seller doesn’t just show up to your home with a wad of cash, however. There is still a process you must go through, which includes verifying the funds, running a title check and signing the closing paperwork.
The benefit to selling your home for cash is that you don’t have to wait for the buyer to secure financing. This process takes time, especially if there are problems in underwriting. And, there’s always the chance that the buyer’s financing can fall through, causing you to start at the beginning.
On average, it takes a minimum of 30-45 days to sell a home in Prince William County with a traditional sale. A cash sale, on the other hand, takes an average of 7-10 days.
Why Sell Your Prince William County Home to Us
4 Brothers Buy Houses is a trusted home buying company that purchases homes in Virginia, Maryland and DC. We do this full time and have an extensive network of professionals that help our processes move quickly. Below are some of the reasons why you should sell your Prince William County home to us!
We are fast.
With cooperation on both ends, we can sell your home in as little as one week. As soon as you contact us, we’ll get on it and schedule a date to come see your property. This can be done in about one day, and then you’ll get a free, no obligation cash offer. If you want to proceed, we’ll finalize the closing process.
We buy as-is properties.
Does your home have foundation problems? Is it old and outdated? Did previous renters trash it? No matter what you’re dealing with, our cash buyers have seen it before. These types of things don’t scare us! We buy properties as-is and we don’t expect anything from our sellers. Even if your house is in rundown condition, we’ll still write you an offer!
We don’t charge any fees.
There are absolutely NO fees to use our home buying services in Prince William County. Real estate agents do charge about 5-6 percent in commissions, so you will have to hand over a good chunk of money at closing. With 4 Brothers Buy Houses, you get to keep the full offer. We even cover most closing costs!
If you’re looking to sell your Prince William County home, contact our team of cash buyers today. We’ll pay top dollar for your property and close in about one week.
June 20, 2021
Can I Sell My District Heights Home Without Having to Pay Closing Costs?
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
How Quickly Can a Cash Buyer Close on a Home in Washington DC?
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:
Consultation
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.
Evaluation
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.
Offer
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.
Signing
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.
Closing
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
Do Cash Buyers Really Buy Homes As They Are?
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:
- Asbestos
- 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.
May 28, 2021
Holding Onto a Vacant Property in Manassas? Here’s What You Need to Know.
There are many reasons why a home sits vacant. Time in between renters, a major life event or a slow market are just some of the reasons why some homes become vacant. It’s easy for these properties to be forgotten – out of sight, out of mind. However, forgetting about a vacant home can quickly become a problem, and an expensive one at that.
If you have a vacant property in Manassas VA, it’s time to decide what you plan to do with the property. 2021 is a seller’s market so it’s very likely that you’ll get the most for your money if you sell right now.
What are the Risks of Keeping a Vacant Home in Manassas?
Every day a home is left empty is another day of increased risks. Even in good neighborhoods, people will seek out empty homes. Here are some of the risks of keeping a vacant home in Manassas:
- Theft and vandalism. Vacant homes are more likely to attract criminals and thieves. If you have stuff inside the home, you’ll especially want to be careful.
- Trespassing. An easy target for trespassers, vacant homes provide a place to hang out, party and conduct illegal activities.
- Squatters. Squatters also pose a risk to an empty home. And, believe it or not, squatters have rights in Virginia so it might not be easy to get them out.
- System failures. What happens when a pipe bursts or the fuse box starts a small fire? All of this damage comes at a cost you’ll have to pay for.
- Neglecting maintenance. When you’re not living in the home, the “little things” go unnoticed and can spiral into bigger and more expensive problems.
What Should I Do with My Empty House in Manassas?
If you have a vacant home that’s just sitting there, it might be in your best interest to sell. It’s a seller’s market right now so you can get top dollar for your Manassas home! This is far better than waiting for trespassers, criminals or squatters to damage the property. And it’s much better than hearing from a neighbor that your home is flooded or needs some type of attention.
4 Brothers Buy Houses can provide you with a free, no obligation quote in just one day. If you like what you see, we can close in about seven days. Not only will you get money in your pocket, but also you can avoid the expenses associated with taking care of the home or having to list it for sale.
To get your fast and free cash offer, contact our cash home buyers in Manassas today!
May 25, 2021
What is the Cheapest Way to Sell a Home in Fairfax County VA?
It’s not cheap to sell a home. At first glance, it might seem like all you have to do is tidy up the home, list it for sale and wait for someone to make an offer. But things are a lot more complex – and costly – than this. Some expenses may be negotiable but others will land solely on you, the seller.
Fortunately, there is a cheaper way to sell your home, especially if it requires a lot of repairs and updates to make it desirable to buyers. Selling your home for cash in Fairfax County Virginia is the fastest and least expensive option for selling a home. Let’s learn more about why this is the case and the expenses you can avoid.
How Much Does it Cost to Sell a Home in Fairfax County?
Typically, the biggest fee sellers pay is the realtor fee, which is between 5 and 6 percent here in Virginia. For a $250,000 home, you could be paying as much as $15,000 in realtor fees which is split between the seller’s real estate agent and the buyer’s agent. Roughly 77 percent of sellers pick up this cost, according to the National Association of Realtors (NAR).
Other costs associated with selling a home are:
- Home repairs. Most sellers end up having to make minor cosmetic improvements like new flooring or paint.
- Inspection. If the inspection turns up problems, the buyers can request that you fix them or offer a credit.
- Home staging. The NAR found that 28 percent of sellers staged their homes before listing. Some tactics you can do yourself, but others you’ll need to pay for.
- Closing costs. Even though closing costs are often the buyer’s responsibility, don’t be surprised if you end up having to pay some association fees, property taxes, attorney fees, transfer taxes and title insurance.
- Additional fees. Other costs you may incur include escrow fees, brokerage fees and courier fees.
Why Selling for Cash is the Cheapest Option
When you sell your home for cash in Fairfax County, you work directly with the buyers. There are no banks involved, granting you the freedom to skip over inspections, appraisals and long wait times. Believe it or not, 4 Brothers Buy Houses can typically close in about one week. Imagine how close you are to being done with your mortgage, taxes, utilities and HOA fees!
Here are the costs you can eliminate from a cash sale:
- Pre-sale home inspection
- Appraisal
- Closing costs – we typically pick these up for our sellers
- Showings – when people are in your home, you have to leave which means driving around, eating out for dinner, etc.
- Repairs or updates
- Realtor commissions
- Negotiations with buyers
If you’re interested in selling your home fast in Fairfax County, contact 4 Brothers Buy Houses. We can give you a fair, no obligation cash offer in a matter of minutes.
May 4, 2021
10 Benefits of Accepting a Cash Offer on Your Montgomery Village Home
If you’re like most sellers, you’re probably not looking forward to all of the work that goes into selling a home. From the cleaning to the staging to making repairs and upgrades, the laundry list of things to do is exhausting. Fortunately, there is a better way to go through this process – sell your home to a Maryland cash buyer.
Here are 10 benefits of accepting a cash offer on your home in Montgomery Village MD.
1. Fast Closing
Perhaps the greatest benefit to selling your home for cash is that you can close right away. Because the buyer is using their own cash, they don’t have to wait for financing to be approved. With a traditional sale, you’re responsible for the mortgage, taxes, utilities and HOA fees until your home is sold.
2. Save on Repairs
Cash buyers purchase homes as-is. You don’t have to invest a dime into your home, which is especially beneficial if you inherited a home, own a distressed property or are in foreclosure. Use your money for your next adventure.
3. Avoid Realtor Fees
There are NO fees or commissions to work with a home buying company in Montgomery Village. The buyer is purchasing your home – NOT looking for someone to buy it. Real estate agents, on the other hand, charge about 6 percent.
4. No Appraisal
In most traditional mortgages, the buyer works with a mortgage lender. Lenders require appraisals because they don’t want to pay more for a house than it’s worth. In a cash sale, the buyer is using their own money so there is no need for an appraisal.
5. No Inspection
Another formality you can eliminate is the inspection. Cash buyers expect homes to have flaws so they don’t need an inspection to point them out. Traditional buyers, on the other hand, will expect issues that turn up to be addressed.
6. Less Risk
Cash offers tend to be stronger than offers that use bank financing. The banks go through a lot of steps to ensure their investment is safe, but this also means they can back out at any time. Cash offers are pretty much guaranteed so you’ll close faster and get paid sooner.
7. Skip the Showings
Don’t want strangers walking around your home at all hours of the day? No problem! In a cash sale, you don’t have to do any showings. This is a huge perk for those who have kids, pets or busy schedules.
8. Avoid Negotiations
Even in a seller’s market, there are almost always negotiations. The buyers might want a problem fixed or a credit to replace your flooring. If you don’t want to go back and forth at the negotiation table, you’ll appreciate that cash buyers give firm offers.
9. Less Paperwork
A reputable cash buyer in Montgomery Village will handle most of the paperwork for you. There’s far less paperwork involved in these sales because there are no middlemen – the transaction is between you and the buyer.
10. Reduce Stress
Cash sales are straightforward. Once you accept the offer, the closing paperwork starts right away. You can move quickly and keep money in your pocket. If you’re facing a difficult time, a cash buyer will eliminate your real estate hurdles.
Ready to see what you can sell your home for? Request your free cash offer from 4 Brothers Buy Houses. All cash offers are firm, free and no obligation!
April 30, 2021
My Silver Spring Real Estate Listing Expired. What Can I Do?
Not all homes listed for sale in Silver Spring MD are sold. Perhaps your realtor wasn’t the right fit or maybe your home didn’t attract much interest. Whatever the case, now your real estate listing has expired and you’re back to square one.
At this time, you can continue working with your current realtor or hire a new one. However, keep in mind that switching realtors won’t necessarily produce a buyer. Ask your realtor why your house hasn’t sold. Was it priced too high? Do you need to bring in a stager to make your home more desirable?
If the realtor isn’t the problem and your home is, you’ll have to make some big decisions. Let’s discuss your options for selling a home in Silver Spring MD that no one wants. Unfortunately, some homes are unlovable and it could take months before you find a buyer.
Understand WHY Your House Isn’t Selling
If you’d prefer to sell your home through a realtor, you’ll need to find out why it’s not selling and then address the issues. Some of the most common reasons why houses don’t sell are:
High price. Even in a seller’s market, your home needs to be priced competitively. Homes are a big investment and buyers want to know they’re getting the best deal possible.
Poor condition. Buyers prefer move-in ready homes. Just because you’ve lived with old cabinets and stained carpet doesn’t mean someone else will. You can fix up the home yourself, offer a credit or lower your price.
Unprofessional listing. Your listing could be outdated, lacking information or lacking high quality photos. People rely on online listings so make sure yours represents your home in the best light possible.
Oddly unique. Some homes don’t fit the mold of what today’s buyers are looking for. Unique properties like very large homes, homes in unusual areas or homes with odd features tend to have a harder time selling.
Underlying problems. Perhaps your home has a few issues, and while you might not think they’re a big deal, your buyers will. Even homes with odd odors can drive people away.
Consider Selling Your Silver Spring Home to a Cash Buyer
When you identify why your home isn’t selling, you can determine the best fix. Some things are easy. You can hire a professional photographer, update your listing and stage your home. But you can’t move its location or change its layout. And depending on the problems your home has, you might not have the time or money to fix things up. Selling your Silver Spring MD home for cash may be the best option you have.
In this transaction, a cash buyer will make you an offer, and if you accept, the closing paperwork can start right away. Cash investors use their own money so there’s no need to wait on bank financing. They also buy homes as-is so any underlying issues likely won’t be a problem.
A few other benefits to selling your home to a cash buyer in Silver Spring MD are:
No inspections or appraisals
No realtor fees or commissions
No staging or showings
Closing costs are typically covered
Close in about one week
Work with a local title company
Getting a cash offer is fast and free! Contact 4 Brothers Buy Houses to see what we’re willing to buy your Silver Spring Maryland home for!
April 26, 2021
Is it Time to Sell Your Rental Property in Woodbridge, VA?
Being a landlord comes with a lot of responsibilities, but it also comes with a lot of rewards. As long as you invest in the right properties and have money saved up for emergencies, you can make a decent passive income from being a landlord.
However, as wonderful as landlord life can be, it’s common to want to step down. If you are feeling this right now but not sure what to do, we can help! 4 Brothers Buy Houses purchases all types of properties in Woodbridge VA. No matter what condition your rental is in, we’ll make you a fair cash offer.
In the meantime, here are some signs that it’s time to sell your rental property in Woodbridge Virginia.
Your rental property is worth more than when you bought it.
It’s a seller’s market right now and buyers are willing to pay more for good homes. If your rental property is worth more than what you bought it for, you can sell it today for a profit. This profit might even be more than what you would collect in rent payments!
Being a landlord is wearing you thin.
Another sign that it’s time to sell your Woodbridge rental is feeling exhausted in your role as a landlord. This is still your home and it’s your responsibility to maintain it. So, when the dishwasher is leaking or a storm rips through and damages your siding, it’s your problem.
Not to mention, some tenants are a constant headache. Whether they’re demanding or trouble, you end up paying the price. While you can’t expect your tenants to be perfect, you shouldn’t have to babysit them. If you are, then it’s a sign you need to sell the rental – or at least find new tenants.
You’re not seeing a positive cash flow.
It’s not uncommon for rental properties to have a negative cash flow. However, you can’t keep losing money. You need to re-evaluate the situation and find out why this is the case. It’s possible that taxes, utilities and insurance have gone up. Or the home might be old and you’re having to make constant repairs. Once you start losing money, it’s usually time to cut ties.
You want to spend your weekends traveling.
Wanting to travel is another motivator for selling a rental property in Woodbridge. Being a landlord is time consuming, and you might feel the need to stay close to the home. Unfortunately, this can stop you from enjoying things like traveling, camping and visiting loved ones. By selling your rental, you’ll have cash for new adventures and the freedom to leave town when you want.
Get a Cash Offer on Your Woodbridge Rental Home
These are just some of the signs that it may be time to sell your rental property in Woodbridge. To get a free, no obligation cash offer, contact 4 Brothers Buy Houses today. There is no obligation to continue. We want our customers to be informed on their options so they can make a confident decision. But, if you do decide to sell your rental, we’ll be able to close in just one week!
