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October 1, 2021

What Does ‘Renovation Potential’ Mean in a Cash Sale?

Most real estate investors are interested in the renovation potential of a property – not necessarily the condition it’s in. This is why selling for cash is a great option when your Silver Spring MD property needs a lot of work. Rather than putting in the time, money and energy to make your home attractive, you can sell your house exactly as it is. 

While most cash offers are lower than what you would get out of a traditional sale, you’re also not putting money into the home. You can walk away with cash and eliminate showings, home inspections and appraisals. At 4 Brothers Buy Houses, most of our clients are able to close on their home in 10 days or so. 

When making a fair cash offer that works for you and us, our cash buyers will take into account the renovation potential of your home. Let’s learn more about what this means and the types of features we look for. 

What Does ‘Renovation Potential’ Mean? 

If you hear our cash buyers in Silver Spring MD talking about your home’s potential for renovation, all it means is how easy it will be to improve the property. Once we make these changes and updates, we will sell your home to new owners.

To make your home desirable, we’ll likely have to renovate the most important spaces in the home – the kitchen and bathrooms. The easier your home is to renovate, the more attractive it is to our cash buyers. 

For example, a kitchen that’s already spacious, with modern plumbing and electricity, is easier to renovate. We can install new flooring, purchase stainless steel appliances and paint the cabinets for a refreshed look.  

Most Popular Home Upgrades for Fixer Uppers in Silver Spring MD 

At 4 Brothers Buy Houses, we focus on making upgrades that buyers will find desirable. Buyers want move-in ready homes with the latest features, so we try to include them in our renovations. Here are some examples: 

  • Bright and open layout. Buyers want homes that are bright and spacious, so we love properties with big windows, tall ceilings and open floor plans. 
  • Neutral paint. A fresh coat of paint does an incredible job freshening up the home. We stick to neutral colors like gray and off-white. 
  • Updated kitchens and baths. Many of our homes receive brand new cabinets, countertops and appliances. It’s easiest to work with open floor plans and modern plumbing and electricity. 
  • Great curb appeal. A few simple updates can give your home the curb appeal it needs. For example, we might stage a porch, repair a backyard patio or install new LED lighting. 
  • Hardwood flooring. We often replace worn-out carpeting with laminate or vinyl. Carpet is easy to tear up – tile is not. 

If you want to know what you can sell your home for, contact 4 Brothers Buy Houses today. We’d love to make you an offer that works for you and us. We buy properties in all price ranges and in any condition, so find out what we’ll pay for a home with great potential today! 

September 20, 2021

Can You Sell a Home in Washington DC with Flood Damage?

Homes flood for all different reasons such as broken pipes, poor drainage, clogged rain gutters, malfunctioning appliances, foundational problems and the weather. And here in Washington DC, we are no strangers to hurricanes and tropical storms! 

If you have a home with flood damage, you might be wondering if you have options to sell. Fortunately, you do. Here’s everything you need to know about selling a home in Washington DC with flood damage. 

House Flooded? Here’s How to Minimize the Damage.

The first 48 hours after your house floods are critical. By taking the appropriate steps, you can minimize water damage. Below is a quick checklist of things to do when your Washington DC home floods. 

  • Make a list of damaged property. This list might be short or long depending on the severity of the damage. 
  • Take photos of the damage. Having pictures allows you to document everything for insurance and resale purposes. 
  • Call your insurance company. They might be able to repair and restore some of the damage while reducing your out-of-pocket expenses. 
  • Wear gloves. Some flood water has harmful contaminants, particularly sewer water. Before touching the water, wear gloves. 
  • Remove items that hold water. Examples include mattresses, furniture and bedding. Getting these items out of the home prevents mold and mildew from forming.
  • Contact a water restoration company. These companies use vacuums and dehumidifiers to remove water and dry out the space. 

Deciding to Make Repairs or Sell Your Home As-Is in Washington DC 

If you take care of the flooding quickly, you might not have much of a problem. However, if your home does have flood damage and you don’t have the money to pay for repairs, it may be best to sell your home. Even with insurance, out-of-pocket costs for flood damage can be significant. 

At 4 Brothers Buy Houses, we buy homes in Washington DC in all types of conditions. We’re not afraid of homes that have flood damage, foundational problems or mold and mildew. We have an extensive network of contractors that we hire to handle these issues. You won’t be required to do a thing!

Also, when you sell your Washington DC home to us, you can eliminate showings, appraisals, inspections, realtor commissions and closing costs. The sale is between you and our home buyers only. Contact us today if your DC home has flood damage and you need a quick, as-is sale. 

September 15, 2021

Is it Possible to Sell a Home with a Tax Lien in Prince George’s County?

Selling a home in Prince George’s County, Maryland is stressful enough, so if you’re dealing with a tax lien, you can expect the process to be more complicated. Essentially, you are pulled between the IRS and your mortgage lender while trying to find a qualified buyer. The good news is that you can still sell your home with a tax lien. But there are some things you’ll want to be aware of because they will affect the process and the profit you make. 

What Does it Mean to Have a Property Tax Lien? 

When your Prince George’s County home has a tax lien, it basically means the government made a claim on the property. This gives them a way to collect the money that you owe them. When you go to sell your home, you can’t take any profits from the sale until you’ve paid off your debt. You also can’t refinance your mortgage until the lien is paid off. 

Typically, tax liens are placed on properties when the homeowner hasn’t kept up with the mortgage payments or tax payments. You’ll know you have a lien on the property when you receive a demand payment letter. The lien will stay on your property until you pay it off. 

Can You Sell a Home with a Tax Lien in Prince George’s County? 

While the process is a bit more complicated, it is possible to sell a home with a tax lien. However, a past due tax bill is a high priority so you’ll have to pay this off before addressing other financial obligations, including your mortgage balance. 

In a perfect world, the sale of your home will cover the mortgage balance and any liens on the property. But this often doesn’t happen. Instead, you may have to make payments to the IRS until they lift the lien. Some other options you may have include:

  • Changing the type of tax lien 
  • Applying for a discharge of property
  • Sending the IRS an application for subordination of the lien
  • Requesting the option for withdrawal 

An Easier Way: Sell Your Home for Cash in Prince George’s County 

If you want to sell your home fast and pay off the lien, the quickest and easiest way to do this is by selling your home for cash in Prince George’s County. When you sell your home this way, you’re getting a full cash offer that you’ll receive at closing. With money in hand, you can pay off the lien and your mortgage. 

Selling your home for cash also means you get to keep the full cash offer because you don’t have to pay for realtor commissions, fees, closing costs, home staging and home repairs. This extra money can be put toward paying off the lien. 

4 Brothers Buy Houses in Prince George’s County Maryland. We have no problem buying homes with tax liens on them – we do this all the time! To learn more about our process and how to get your free cash offer, contact our cash home buyers in Maryland 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

March 1, 2021

3 Surprising Benefits of Selling Your Home for Cash in Centreville, VA During COVID-19

If you’re looking to sell your home in Centreville, VA, the coronavirus will likely impact this process. The real estate process involves face-to-face interactions and multiple people visiting a home, but this has been challenged due to social distancing. With restrictions in place, countless open houses and walkthroughs have been cancelled and more processes are being done online.

With so many concerns over COVID-19, it’s understandable why sellers don’t want strangers in their home and buyers aren’t comfortable entering an unfamiliar space. If this is the way you feel, rest assured that you do have an option to sell your home quickly and safely. Below we’ll cover three surprising benefits to selling your home for cash in Centreville, VA

1. Eliminate Showings and Open Houses 

If you’re not comfortable having strangers in your home, a cash sale is a great option. You don’t have to worry about staging your home, taking pictures for a listing or hosting an open house. The only showing you’ll have to do is for us – and we promise it will be easy! 

We buy houses in Virginia in as-is condition, which means you don’t have to worry about cleaning, decluttering or fixing anything. We tend to look at the bigger picture – your home’s location, layout and rehab potential. So relax and let us take a quick look around. We’ll be in and out! 

2. Enjoy a Quick Sale – and Take Advantage of Today’s Interest Rates 

Current interest rates in Virginia for a 30-year fixed loan are around 2.85%. They won’t go much lower than this! If you want to take advantage of these historically low rates but your current property isn’t ready to sell, it’s worth considering a cash sale. 

It takes an average of 65 days to sell a home, but it can take a lot longer than this. If your home needs time to list and sell, you could miss out on these low interest rates. A cash sale, on the other hand, takes about one week, which means you could be locking in these interest rates today. 

3. Get Fast Cash and Sell Your House without Closing Costs 

Some people are experiencing a financial fallout due to COVID-19. If you are one of them, you might benefit from selling your home, reducing your expenses and paying off some debt. 

With a cash home sale, you’ll receive an offer on your home, and if you accept, you can typically close within 7-10 days. No more mortgage payments, HOA fees, taxes or utilities on your current property! We’ll even cover most of the closing costs for you! 

Get a Cash Offer on Your Centreville Home Today!

As you consider your options for selling your home during the pandemic, it’s worth looking into a cash sale and how it can benefit you. At 4 Brothers Buys Houses, we buy houses in Centreville, VA in all conditions and price ranges. Contact us today for your free, no obligation cash offer

December 11, 2020

Can you sell your house after a loan modification?

Families often get a loan modification when they’ve fallen on hard financial times. A loan modification can allow them to stay in their homes and avoid foreclosure. A common question is whether you can sell after receiving a loan modification. The answer is yes–you may want to talk with your lender about how much you owe, but you can still sell your property. 

If you are behind on your property’s payments, you might be interested in a loan modification. A loan modification changes the terms of your loan, and can significantly lower your interest payments and make it easier for you to afford to stay in your home long term. There is some confusion about how loan modifications affect home sales. Taking a loan modification changes the terms of your loan, but does not impact your ability to sell your home. You can still sell your home even after a loan modification. Here is why someone might choose to modify their loan, and how they can sell afterwards.

Why Someone Might Choose A Loan Modification

Someone might choose a loan modification if they are behind on their mortgage payments or anticipate falling behind. Generally a loan modification changes the terms primarily by impacting the interest rate. Borrowers may be able to take advantage of a lower interest rate and use that in order to be able to afford their payments going forward. A loan modification isn’t going to work in every situation. But if you are undergoing financial hardship, you should talk with your lender about your options.

You Can Sell As Soon As Your Loan Modification Goes Into Effect

When your loan modification goes into effect, you don’t have to wait. You can sell your home immediately. For instance, you might use a loan modification to help stabilize your finances. And after that stabilization is complete, you may then look at selling your home once you are on better financial footing. 

Selling On Your Terms

One of the reasons why families who have used loan modifications look at selling to investors is because they want to sell on their own terms. You may have to work with your lender on figuring out how you can best sell your property on the traditional market. But when you work with an investor, you can get a cash offer that allows you the flexibility to move on your own timeline. Having that financial flexibility is crucial, especially for those that are looking to sell after going through a difficult period. Being able to sell on your own terms is something that makes selling to an investor more of an attractive proposition. 

Getting a loan modification doesn’t preclude you from selling your property. A loan modification may hurt your credit, but you will still be able to sell your home. It can be easiest to sell your home as-is, for cash. At 4 Brothers Buy Houses, we can help you with that. We specialize in buying homes just like yours in the DMV area. If you are looking to sell your home for cash, give us a call. We’d be happy to purchase your property. Our team will give you a free, no obligation quote and you can move on it on your timeline.

July 28, 2020

From Contract To Closing In Just 14 Days

A homeowner living in Silver Spring, Maryland decided it was time to sell his property. The property had been in his family for a long time–and when his mother passed, he inherited it. The property was never updated or renovated, and doing so would have come at significant costs. So how did this homeowner sell his property for cash, and go from contract to closing in just two weeks? He called 4 Brothers Buy Houses. Here is his story.

Inherited The Home 10 Years Ago

Just like many other families, our homeowner inherited his property from his mother. His mother passed about a decade ago, and she left him the home. In many families, inheriting a property brings a number of questions, especially if siblings are inheriting the property together. One sibling may want to sell, while another may want to renovate, and another may want to stay and live in the property. In this case, our homeowner knew he wanted to sell, but wasn’t really sure where to start.

The Home Was Never Occupied Or Updated

Since the property was never renovated, it was in need of repairs and maintenance that our homeowner didn’t want to pay for. Without any renovation, it was going to be difficult for the property to sell on the open market. Older homes that have not been renovated often struggle to find interested buyers, especially among the younger millennial generation that is now buying their own properties. Our homeowner decided to call 4 Brothers Buy Houses in order to make sure he could sell on his own terms.

4 Brothers Buy Houses Closed 14 Days After Signing

4 Brothers Buy Houses evaluated the property and put in an offer on June 3rd. The offer was accepted on June 4th, and closing was complete by June 18th. Our homeowner had officially sold his property just 2 short weeks after going under contract with 4 Brothers Buy Houses. After 10 years of owning the property his mother had left him, he finally had the cash he wanted, and he got the value he felt he deserved from the home. 

If you want to sell your property quickly, then you can contact our team at 4 Brothers Buy Houses. We’ll be happy to walk you through the process of how you can sell your home for cash. You won’t have to go through the traditional showcasing, and you don’t need to spend money on expensive renovations or repairs. We can stop by your property and give you a free, no obligation quote. That way, you can sell your property at your own pace, on your own timeline. Give us a call today, and we can get started.

February 26, 2020

2020 Expected To Be A Strong Year For The Housing Market

The supply of homes up for sale in the United States has fallen dramatically, playing into the hands of sellers who are looking for a strong market. According to the National Association of Realtors, the housing inventory for the month of December was just 1.4 million units. That would be the lowest level in about two decades. With demand increasing, sellers are in a stronger position. Low interest rates are also helping buyers afford mortgages and driving up the number of offers that sellers are getting. Let’s take a look at the state of the housing market in 2020 and why this might be the best time for you to sell. 

Here are the reasons: 

Housing Demand Increasing While Supply Dries Up

While housing units on the market have fallen, the amount of interested homebuyers has spiked. Several mortgage purchase indices, such as the MBA Purchase Index, which tracks the percentage of homebuyers applying for mortgages, have seen huge gains in recent months. This indicates that buyers aren’t waiting for market conditions to change, they are interested in purchasing a new home now. This could partly be due to millennial buyers gaining comfortable employment or starting families.

Low Interest Rates Driving More Buyer Interest

Low interest rates have helped to spur this interest in the market. Buyers are finding it relatively easy to afford financing, and this has provided them with outsized purchasing power. Analysts expect buyers to remain motivated in the coming months, which could keep the housing market hot for at least the first half of the year.

Sellers May Find This Is The Best Time To Sell

Sellers who are interested in putting their home on the market may find that this is the best time to move. The housing market conditions are favorable to sellers right now, but that may not always be the case. In the coming months or years, rates could rise, meaning that it becomes more expensive for buyers to borrow. If that happens at the same time when the housing supply increases, there could be a glut of homes on the market with few buyers to scoop them up. If you are interested in selling your property, this might be the best time in the near future to make a move. 

Want to sell your home without having to jump through all the traditional hoops? You don’t have to chat with multiple prospective buyers or spend months sitting down with your real estate agent on the repairs and renovations you’ll need to make. You don’t have to sit at your computer considering the trends of the market and if they’ll move against you. Instead, you can call 4 Brothers Buy Houses. 4 Brothers Buy Houses will purchase your home for  cash, as-is. We’ll provide you with a no obligation quote and you can make the decision that best suits your needs. Contact us today and find out how easy selling your home really is.

February 21, 2020

3 Things To Know About Negotiating With Homebuyers

 

Negotiation isn’t just for homebuyers, it is for sellers as well. Sellers need to understand how they can use the negotiation process to their advantage so that they can get the most value out of their property as possible. Are you prepared to handle a counteroffer? Are you going to take the first offer you get or are you prepared to wait for other offers?

These are some of the questions that you’ll need to answer before you really step into the world of selling your property. 

Get Inspections Done So You Know Your Property Inside Out

Sometimes, you’ll have to deal with prospective buyers who will attempt to tell you what’s wrong with your property. They’ll talk about the repairs that your property needs and label those supposed repairs as reasons why your home will fetch a lower offer. When you get your inspections done early, you can easily offer a rebuttal in the negotiation process. You’ll have the paperwork to show that your home doesn’t need any other repairs. Having documentation is absolutely key here.

Consider Offering A Home Warranty

If you want to incentivize homebuyers to take a second look at your property, think about offering a home warranty. Even if you know that nothing is wrong with your property, a home warranty can give buyers peace of mind. It is something you might want to think about offering in a scenario where homebuyers are negotiating in good faith and you want to push things over the finish line.

Make Sure Time Works In Your Favor

You want to make sure that time works in your favor, and that you aren’t negotiating on someone else’s timeline. You can do this by putting deadlines on your counteroffers. This creates a sense of urgency and stops buyers from taking their time when making a decision. You don’t want buyers to use you as leverage when negotiating other offers. So instead of waiting around, take ownership of the negotiation process and make sure that you have a strategy. Your real estate agent may be able to help you determine a selling strategy that best fits your specific needs.

Not interested in learning the ins and outs of the negotiation process? No worries–you can sell your property without having to go through lengthy and frustrating negotiations. All you have to do is contact 4 Brothers Buy Houses. At 4 Brothers Buy Houses, we’ll purchase your property for cash, and we’ll handle all of the paperwork! You can get a free, no obligation quote at any time. This allows you to sell your property on your own schedule, so that you can focus on what matters most–getting your hard earned cash. Give us a call today!

January 14, 2020

Understanding the costs of selling your home

Ready to sell your home? Perhaps you are retiring and moving to a different community. Maybe you are taking a new job and are selling before you go. Maybe you just want to sell to see what you can get for your property. Whatever the case may be, you need to be aware of the costs. Selling your home will cost you money in repairs, cleaning, landscaping, and inspection fees. There are also real estate agent commissions and closing costs to worry about. Before you sell, you need to make sure that you are comfortable with these costs.

Repairs, Cleaning, Landscaping, And Inspections

When you sell your property, you’ll need to be prepared to handle things like repairs and landscaping. Those things cost money. You’ll need to have the cash on hand in order to make any necessary repairs or landscaping fixes. You’ll also have to keep the property clean and pay for any inspections that must be done before the sale is finalized. These repairs can easily run in the thousands or tens of thousands of dollars.

Real Estate Agent Commissions

Real estate agents get a commission on the sale of your property. Typically, the commission is worth several percentage points of the total value of the home. This commission can be costly, but it is typically worth it if you need help making the sale or if you don’t really know your local real estate market that well. The good thing about real estate commissions is that they generally aren’t paid until the end of the process.

Online Marketing

Selling your property means that you’ll need to reach interested parties. This is done through online marketing. You’ll need to market your property both through traditional mediums and through new ones such as social media. Online marketing may be handled by your real estate agent, or you may decide to work on it yourself. Either way, this kind of marketing costs money and you’ll need to be prepared to pony up. The cost of marketing online depends on the reach that you want to have. But you can expect a marketing campaign to cost several hundred dollars at the least. A very extensive campaign could run into the thousands.

There are real costs to selling your home that you can’t ignore. Sellers must be aware of the costs of repairs, maintenance, renovations, landscaping, cleaning, and inspections. Of course, there are also real estate agent commissions and other miscellaneous costs. If you want to avoid these costs, then you can work with 4 Brothers Buy Houses. 4 Brothers Buy Houses will purchase your home regardless of the condition, without any need for repairs or renovations. Give us a call today and we can get started on the process.