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Maryland
April 28, 2023
Common Misconceptions About Selling Your House for Cash in Maryland
Selling a house in Maryland can be a complex process, which is why homeowners often look for ways to make it faster and easier. One option that has gained popularity in recent years is selling a house to an investor for cash, as opposed to working with a real estate agent. There are many seller perks to this, including a faster sale and no commissions.
However, there are many misconceptions about this process that can lead homeowners to miss out on potential opportunities. Let’s cover some of the most common misconceptions regarding selling a house for cash and why they aren’t true.
Misconception #1: Selling for cash means accepting a lowball offer.
One of the biggest misconceptions about selling your house for cash is that you have to accept a lowball offer. While it’s true that some cash buyers may try to take advantage of desperate homeowners by offering a low price, there are also many reputable cash buyers who offer fair prices based on the market value of the property.
In fact, many cash buyers in Maryland are willing to pay more than the traditional market value of the house in order to close the deal quickly. Plus, you save money in other ways, such as by not having to make repairs or pay commissions. This means even more money in your pocket.
Misconception #2: Cash buyers are only interested in distressed properties.
Another common misconception is that cash buyers are only interested in distressed properties that need a lot of work. While some cash buyers specialize in buying fixer-uppers or distressed properties, there are also many who are interested in buying well-maintained homes that are move-in ready.
For example, properties that are difficult to sell on the traditional market, such as those with liens or title issues, are attractive to cash buyers in MD. Probate houses, too, can detract a traditional buyer from making an offer, but they won’t stop a cash buyer.
Misconception #3: Selling for cash is a scam.
Some Maryland homeowners are hesitant to sell their house for cash because they believe it’s a scam or too good to be true. While there are certainly scams out there, it’s important to do your research and ask the right questions before agreeing to sell your property.
Fortunately, reputable cash buying companies have online websites with reviews, testimonials and references. Don’t be afraid to ask questions about the buyer’s experience, background and qualifications. Honest cash buyers will be transparent about their process and pricing and will work with you to ensure a fair transaction.
Misconception #4: Cash sales are faster, but you’ll lose out on profit.
While it’s true that selling your house for cash can be faster than going through the traditional sales process, it doesn’t necessarily mean that you’ll lose out on profit. In fact, many cash buyers are willing to pay a premium for properties that can be sold quickly and without the hassle of listing, showings and negotiations.
Additionally, selling for cash can save you money on fees and commissions, which can add up to thousands of dollars in savings. This is why we encourage sellers to get a cash offer and then compare this number to what they would receive in a traditional sale, after paying for repairs, staging, commissions, closing costs and more.
Misconception #5: You can’t sell for cash if you have a mortgage.
Finally, some homeowners believe that they can’t sell their house for cash if they have a mortgage. Selling a house with a mortgage can be more complicated than selling a house outright, but it’s still possible to sell your house for cash if you have a mortgage.
When you receive the cash, you can pay off your mortgage, and the cash buyer can then take ownership of the property. This can be a great option for homeowners who are facing foreclosure in MD or need to sell their house quickly for other reasons.
Get a Free Cash Offer on Your Maryland Property
If you need to sell your property quickly and without the hassles of the traditional real estate process, a cash sale can be a great alternative. Contact 4 Brothers Buy Houses for a free, no obligation cash offer. We are an honest, reputable house buying company that purchases properties all over Maryland.
April 1, 2023
Why Selling Your House for Cash in Pasadena MD Can Be a Stress-Free Experience
If you’re planning to sell your house in Pasadena MD, you may already be stressing about what the process entails. From cleaning out your space to making repairs to finding a real estate agent, there are numerous steps involved in the traditional home-selling process.
Fortunately, you’re not limited to selling your house through a real estate agent. You can also sell your house for cash, which is a stress-free experience. Below are the reasons why cash sales are quick, easy and transparent.
No Need to Find a Real Estate Agent
When you sell your house for cash in Pasadena, you don’t need to find a real estate agent. This can save you time and stress, as you won’t need to interview agents, sign a listing agreement or pay commissions. Instead, you can work directly with a cash buyer who will handle the entire transaction.
No Need to Make Repairs or Upgrades
A huge factor of stress when selling a house is getting it ready for showings. This often involves making repairs and upgrades to ensure your house is in the best possible condition. Your real estate agent will typically make the suggestions, and you’ll need to accommodate them as best as possible.
But, when you sell your house for cash, there is no reason to do this. Cash buyers in Pasadena are typically willing to buy houses as-is because they plan to renovate them anyway. This way, you can save on the stress of handling costly and time-consuming repairs and upgrades.
No Need to Stress Over Financing
A reputable cash buyer will have the funds on hand to purchase your home outright. This means that you can pay off your mortgage or use the money to put down on a new home or apartment. Selling your house the traditional way requires you to wait on buyer financing, which can fall through at the last minute.
No Need to Worry About Contingencies
In a traditional home sale, there are often contingencies involved, such as the buyer needing to sell their current house before they can purchase yours. A cash sale does not have contingencies involved. Cash buyers are ready to purchase your Pasadena house immediately!
Quick Closing Process
Lastly, selling your house for cash involves a quick closing process, usually about two weeks or so. This can be a huge relief if you’re looking to sell your house quickly and move on to the next chapter of your life. This is what makes cash sales attractive for those going through financial challenges or divorce.
If you’re looking for a stress-free selling process, it’s definitely worth looking into a cash sale. 4 Brothers Buy Houses is a house buying company that will pay cash for your Pasadena property. Contact us today for a free cash offer and see how easy selling your house can be!
February 5, 2023
Should I Sell My Glen Burnie MD House this Spring?
Spring is synonymous with many things – fresh air, longer days, birds chirping and finally some color on the trees! Another thing that spring is known for is boosting the housing market. This time of year is considered ideal for selling a property because it’s when the largest number of buyers are actively searching for a new home.
If you have a property in Glen Burnie MD to sell, should you list it this spring? Or should you wait? Even though spring is traditionally when the housing market is most active, this year is looking a bit different with high interest rates and low inventory. Let’s explore this in more detail and the best options you have for a quick and efficient spring home sale.
What Does the Current Housing Market Look Like in Glen Burnie?
We have good news for those who have a property to sell in Glen Burnie. This suburb of Baltimore is relatively quiet and peaceful, with above-average public schools and affordable homes. People continue to move here because it’s close to the major cities but still offers a small-town feel.
With this in mind, the housing market in Glen Burnie is competitive. According to Redfin data, Glen Burnie home prices were up nearly 13.4 percent in January 2023, selling for a median price of $355,000. While these numbers are down from last year at this time, they are still strong, with houses staying on the market for around 37 days.
Benefits of Selling Your Glen Burnie Property this Spring
If you are thinking about selling your house, 4 Brothers Buy Houses can help! We’ll give you a free, no obligation cash offer so that you can make an informed decision. The benefit in selling your house to us is that we will buy your property in as-is condition – no contingencies!
Our cash buyers do not require an appraisal, inspection or repairs. You get to keep the full offer, and we usually pick up most closing costs. Selling a house for cash isn’t right for everyone, but it could be right for you if you:
- Have a fixer upper
- Are behind on your mortgage payments
- Need to move quickly
- Are going through a separation or divorce
- Have inherited a property
- Can’t afford to make the repairs your home needs
- Need fast cash
Get in touch with our cash buyers if you want an offer on your property. There is no obligation to continue – this is simply for informational purposes! Many sellers find that it’s actually cheaper to sell their homes this way instead of with a realtor. Contact us today to see if the same is true for you!
December 30, 2022
Reverse Mortgage vs Selling Your Maryland Home
Retirement is an exciting time in a person’s life, but there are also concerns over how to maintain the same lifestyle. Some older adults consider taking out a reverse mortgage so that they can stay in their home and/or sustain their same life. But is a reverse mortgage really the best option?
When considering whether or not to take out a reverse mortgage, there are pros and cons to be aware of. Let’s cover what they are, and why selling your house for cash in Maryland might be the better option.
What are the Pros to a Reverse Mortgage?
A reverse mortgage is a loan borrowed against the equity you have in your home. Instead of paying the bank each month to build up equity, the bank pays you in a series of installments. Reverse mortgages work well for paying off debt or covering home improvements.
The advantages to a reverse mortgage are:
- You can stay in your current home, though you will be responsible for maintaining the home and keeping current with property taxes and homeowners insurance.
- You can increase your cash flow in a variety of formats: a lump sum, monthly payments or a line of credit. This way, you can sustain your lifestyle, travel or pay your medical bills.
- You can make improvements around the home so that it’s more conducive to aging in place, or tackle projects that you didn’t get to years ago.
What are the Cons to a Reverse Mortgage?
Even though a reverse mortgage can give you additional income during your retirement years, there are some drawbacks to be aware of.
- You’re still responsible for maintaining the home, which can become more difficult as you age.
- There are several costs associated with taking out a reverse mortgage such as origination, appraisal, title and insurance fees. These fees can be rolled into your loan or paid out of pocket.
- The loan must be paid back. This typically happens when you go to sell your home – you can use the proceeds to pay back the lender.
When Selling Your Maryland Home is the Best Option
If you need extra cash and/or want to maintain your same lifestyle, selling your house for cash may be the better option. You won’t get to keep your home, but you can buy something that’s smaller and easier to maintain. Additionally, you don’t have to worry about using the money for repairs or maintenance, and you can even set money aside as an inheritance for your adult children.
4 Brothers Buy Houses buy homes throughout Maryland. We will provide you with a free, no obligation offer, and if you accept, we can close in about two weeks. We purchase homes as-is, so there is no need to worry about appraisals, inspections, repairs, closing fees and more. The transaction is direct and between you and us!
To get a free cash offer on your Maryland property, contact our cash buyers today! You can then see if a cash sale is the best option for your retirement.
October 26, 2022
Do You Keep All the Money When You Sell a House in Gaithersburg MD?
No matter how good the housing market is, selling a home in Gaithersburg MD is still a complicated process. And one of the most difficult to understand is the money aspect. On paper, it might seem simple. You sell your home, the buyers write you a check and the transaction is closed. But keeping money after the sale of your house is not automatic. Often, homeowners still owe on their loans and have to pay off their balance.
Let’s learn more about what costs are associated with selling a house in Gaithersburg and how to beef up your profits.
How Much Does it Cost to Sell a House in Gaithersburg?
Whether you’ve had your house for five years or 25 years, you’ve been paying down the mortgage ever since you signed the papers. Your mortgage is made up of the principal, taxes, interest and insurance, so your monthly payment is split between all four. When you go to sell your property, you will have paid down some of your mortgage.
However, keeping the money from the sale of your house is not always the case. Your profits come from how the money is divided among the following:
- Remaining loan balance. If your home isn’t paid off, you still have a loan and will need to pay this off.
- Closing costs. The average closing costs in Maryland are around 3.5 percent of the home’s final sale price. Closing costs are typically more for buyers, but sellers pay them, too.
- Real estate agent commission. If you hire a real estate agent to sell your house, you’ll need to pay them for their work. Realtor fees in Maryland are between 5 and 6 percent.
- Necessary repairs. Unless you sell your property as-is, you may need to make certain repairs. You may know of these repairs already, or they may turn up in your inspection report.
- Property taxes. Maryland home sellers are required to pay property taxes on the days they’ve owned their home in the calendar year. Taxes are split between the buyer and seller.
Can I Sell My Gaithersburg House AND Keep the Money?
Depending on your situation, you can walk away with a lot of money in your pocket – or barely any. The most cost-effective way to sell a property is to sell it for cash. While you are likely to take a smaller offer, you can close in two weeks and avoid realtor fees and commissions.
4 Brothers Buy Houses will make you a fair cash offer – and you get to keep it all! There are no fees or commissions, and we typically pick up closing costs. This eliminates the need to pay for a realtor, repairs, updates, etc. Everything is negotiable! Contact our cash buyers in Gaithersburg to get a free cash offer on your home!
September 15, 2022
My Pasadena MD Home Isn’t Selling. What are My Options?
Pasadena Maryland is a great place to live, with home prices increasing and more people moving to the area. Compared to some other parts of Maryland, Pasadena is quiet and has good schools, lots of parks and quick accessibility to restaurants and the Chesapeake Bay. Most sellers have had no trouble selling their homes.
However, now that the market is cooling off, you might find that your house isn’t selling. This can be especially true if your house isn’t in the best condition. As buyers have more options and leverage, they’re not as willing to make offers on houses that need work. This means that you might have to address issues that you wouldn’t have had to last year.
If your house in Pasadena MD isn’t selling, here are some of your options and the things you can do.
Try to Understand the Problem
The best way to come up with a strategy for selling your house is by understanding why it’s not selling in the first place. Be objective. Most of the time, the pricing is the problem. Look at comparable homes in your area to determine if yours is priced accordingly.
Some of the other reasons why your house might not be selling are:
- Poor curb appeal
- Repairs and maintenance needed
- Outdated kitchen and bathrooms
- Bad marketing and advertising
- Located in a changing neighborhood
Lower the Price
One of the first things you can do is lower the price. Be strategic about your pricing, as many people will use filters on their searches that could exclude your home. For example, if you lower your price to $452K, buyers who are capping their search at $450K won’t see your home. To get more buyers, it’s better to price it at $449K so it turns up in more searches.
Focus on the Areas that Need Attention
Whether your home could benefit from improved curb appeal, new carpet or repainted walls, now is the time to address these issues. Pay attention to the feedback that potential buyers are leaving – most are honest about what they like and don’t like about the property. Focus on the areas that are turning people away, such as dirty carpets or old appliances.
Try New Channels
If you’re currently working with a realtor, consider some other marketing channels that can help get your property in front of more eyes. Your online listing should be thorough and include professional photos, an online video tour and a descriptive listing. You can also post your property on social media or talk to your realtor about putting up a ‘for sale’ sign and hosting an open house.
Sell Your House for Cash
If you don’t have time to waste, consider selling your property for cash. 4 Brothers Buy Houses will pay cash for your property. We buy houses in as-is condition, meaning that we will not ask you to make any repairs or updates. All you need to do is move out! We waive the inspection and appraisal, and we cover most closing costs.
To get a free cash offer for your Pasadena MD property, contact 4 Brothers Buy Houses today. We can close in just two weeks, and you can walk away with the full cash offer.
September 1, 2022
Why Does the Maryland Housing Market Slow Down in the Fall?
The housing market in Maryland has slowed significantly over the last couple of months due to many factors, including rising house prices, increasing interest rates and low inventory. In July 2022, home prices in Maryland were up 5.4 percent compared to last year, selling for a median price of $407,800.
Currently, Maryland is a neutral market, which means it’s not a seller’s market or a buyer’s market. This is actually good news, considering that many areas are starting to see things shift toward the buyer. And, with limited inventory in the state, it’s possible that prices will go up even further.
But there’s another thing that’s slowing down the market, and that’s the fall season. Historically, autumn is when the housing market cools off. Let’s learn why this is the case and why selling your Maryland property now might be the best fit.
The Kids are Back in School
The spring and summer are popular times to buy a home because the kids are either out of school or almost done with school. Families prefer not to change schools in the middle of the year, so they start looking at homes in the spring, with the goal to close sometime in the summer. This way, they can move their family into their new home and have time to settle in before the new school year starts.
There’s Less Flex Time
Another perk to buying a MD home in the summer is that people tend to have more flexible schedules. They’re more likely to take time off in the summer for vacations and family time. And some employees are naturally off in the summers, like teachers! With more free time in their schedules, prospective buyers have an easier time making it to showings and working with a realtor.
The Weather is Not as Nice
Maryland gets cold, rainy and snowy in the fall and winter, which means it’s not an ideal time to move. Summer may be hot, but there’s a far less chance of rain or snow during this time of year. Not to mention, the spring and summer are growing seasons, when trees and flowers are at their peak. This can help buyers see the best in their potential new neighborhoods.
Harder to See the Neighborhood in Action
More people are out in the spring and summer. Neighbors are working in their yards, kids are out riding bikes and families are walking their dogs. This makes it easier for prospective buyers to meet their new neighbors and get a feel for the community. Once fall hits and school is back in session, there are far less people out and about.
Selling Your MD House in the Fall
If you missed the mark and want to sell your house before winter hits, now is a great time to do so! It’s hard to know what the market will be like in a few months, and you can get a good price for your MD property today.
4 Brothers Buy Houses will pay cash for your property. With our house buying services, you can eliminate an appraisal, inspection and home improvements. We buy properties as-is, and we take care of most closing costs. And, there are NO commissions or fees! Contact us today for your FREE cash offer!
July 10, 2022
My Hyattsville MD House Has an Auction Date. Can I Stop Foreclosure?
Foreclosure isn’t a quick process. In Maryland, the process typically takes about 90 days. But this timeline can take much longer depending on how backed up the courts are. However, when you receive an auction date for your MD house, you’re racing against the clock. The good news is that you still have time to prevent foreclosure, even if the auction date is just weeks away.
Stopping Foreclosure in Hyattsville MD
Foreclosure in Maryland is not unusual. Maryland is the seventh most expensive state in the United States, with housing prices 66 percent higher than the national average. A typical single-family home in the Hyattsville area is around $350,000. And even though the average household income in Hyattsville is $93,527, the area still has a poverty rate of 10.33 percent.
If you are struggling to pay your mortgage in MD, you are not alone. But keep in mind that you do have options. You do not have to let your house go into foreclosure.
Chapter 13 Bankruptcy
One option you have is to file bankruptcy in Maryland. Unlike Chapter 7 bankruptcy, you do not have to sell your house in Chapter 13 bankruptcy. This form of bankruptcy allows you to keep your home and avoid foreclosure while stopping creditors from pursuing debts against you.
However, filing bankruptcy is always a last resort. It’s a long process that can negatively impact your credit score by 200 points or more. A Chapter 13 bankruptcy also stays on your credit report for seven years and can make it difficult to get new financing.
Negotiate with Your Lender
You should always be in communication with your lender. The more open and honest you are with them, the more they can help you. That being said, your lender’s goal is to get their money.
Try to negotiate with your lender and see what options you have, such as loan modification, refinancing or forbearance. Your lender may even agree to accept a deed-in-lieu arrangement. Although you won’t get to keep your house, it does prevent foreclosure.
Pay the Balance
This is probably an unlikely situation, since you would have paid your delinquent mortgage by now if you had the money. But it’s still something to consider, as a loan from a family member or an unexpected inheritance could bring the financial windfall you’re in need of.
You can also sell your Hyattsville house for cash, which would give you money to pay off your delinquent mortgage. As long as the lender accepts the payment, the foreclosure process stops and you can continue making your regular mortgage payments.
Sell Hyattsville MD House for Cash Before Auction Date
Since a traditional sale can take months, selling isn’t a feasible option to stop foreclosure if there’s already an auction date. But you can complete a cash sale. With this arrangement, a cash buyer purchases your house using their own money. No bank financing is needed.
4 Brothers Buy Houses can usually complete a cash home sale in two weeks. We also waive the inspection, appraisal and most closing costs. Each situation is unique, so it’s important to find out if a cash sale is in your benefit. Contact us today to learn more about selling your Hyattsville MD house for cash!
June 30, 2022
The Best Time to Sell Your Capitol Heights MD House in a Divorce
If you’re currently going through a divorce in Maryland, you have a lot on your mind. Selling the family home is probably at the forefront, as this is likely your biggest asset. It might also hold sentimental value to both you and your ex. Deciding whether to keep or sell the home is a big decision that only you and your ex can make.
Due to financial, legal or personal reasons, many couples going through divorce feel it’s best to sell their house. This doesn’t necessarily make the divorce process easier, but it offers a clean slate for both sides. Let’s cover the case for selling your house before vs after the divorce, as well as the benefits to working with cash buyers in Capitol Heights MD.
Should I Sell My House Before the Divorce, or Should I Wait?
There are pros and cons to selling your house prior to the divorce, as well as pros and cons to waiting. Only you and your ex can make this decision, and you may have to work with a mediator to come to a mutual agreement. But we can help you look at things from a practical and financial point of view.
Selling before the divorce
If you decide to sell your house before the divorce is final, you set yourself up for an easier departure. When the divorce date finally arrives, you’ll already have taken care of this marital asset, allowing you and your ex to go your separate ways. You won’t have to return to litigation to discuss the house and what repairs need to be made.
And, if you decide to sell your house right now, you can take advantage of a great market. Maryland sellers are in control, making it easier to sell your house without contingencies. You’ll likely get several offers on your home, so you and your ex can get more out of the sale. It’s hard to say what the market will be like in another year or two.
Selling after the divorce
For some people, it makes sense to sell their house after the divorce is final. If you and your spouse are having a hard time agreeing on things, it might be best to wait. You can go through the divorce process first, and give yourself time to accept the separation.
Plus, keeping the home allows you to pay down the mortgage, and it gives you a place to live while the divorce is taking place. This can be especially beneficial to families with children, as they try to maintain as much normalcy as possible. Hopefully by the time the divorce is final, you and your ex will be on better terms and able to agree on more in regards to selling the house.
How Selling Your Capitol Heights House for Cash Can Help During a Divorce
Part of what makes selling a house during a divorce so difficult is the tension. You and your spouse may disagree on things just for the sake of it – which realtor to hire, what repairs to make, what offers to accept, etc. But, if you’re not planning on keeping the house, it’s best to sell as soon as you are ready to work with your ex – and vice versa.
Selling for cash is a great solution for many couples going through a divorce. 4 Brothers Buy Houses will pay cash for your house. We do not need financing through a bank, which allows us to complete the sale in about two weeks. We also waive inspections, appraisals and most closing costs. Our cash buyers in Capitol Heights MD will make you an attractive cash offer, and if you both accept, we can start the closing paperwork right away.
Because you’ll receive the full cash offer, you and your ex can split the profits right down the middle. The goal is to have enough to pay off the loan on your home, as well as something to start your new life with. To get a free cash offer on your Maryland property, contact 4 Brothers Buy Houses today.
June 5, 2022
5 House Selling Mistakes to Avoid in Greater Landover MD
Selling a house in Greater Landover MD can be time-consuming and emotionally draining, especially if you’re a first-time seller. Not only do you have to put time and money into cleaning, organizing and staging the property, but also you have to let strangers in to see your home. And as you may have heard (or experienced), prospective buyers can be pretty harsh.
Fortunately, by avoiding the mistakes below and keeping a level head, you can get through the sales process with as little headache as possible. Here are the house selling mistakes we recommend avoiding for a stress-free experience.
Mistake #1: Getting Emotional
Selling a home is an emotional process. This is the place where you’ve lived, raised a family and had many firsts. Because of the strong emotional ties, you might think that your home is worth more than it is, or you might have trouble letting it go. But, try to look at things from a business perspective. Your goal is to sell your property for as much profit as possible.
Mistake #2: Setting an Unrealistic Price
Setting the right asking price is an important part of selling a house in Maryland. Refer to your comparative market analysis to determine a fair asking price. In the current market, you might be able to get away with overpricing your property, but this won’t work in other markets. In fact, pricing your house slightly lower can work in your favor, as it can generate more interest and higher bids.
Mistake #3: Not Taking Professional Photos
Because most people will learn about your house from the internet, it’s imperative that you take professional photos of your property. Professional, high quality photos will help sell your house, while also showing off its best features. To ensure you get the best photos, you’ll want to hire a professional photographer to take pictures.
Mistake #4: Not Staging Your House
Another thing you’ll want to do, especially before taking photographs, is hire a professional home staging service. Many people assume that these are luxury services, but this is not the case. According to HomeAdvisor, homes that have been staged spend 30 to 50 percent less time on the market, as well as receive offers that are 1 to 5 percent higher. For the best chances at selling your home, professional staging is key.
Mistake #5: Hiding Major Problems
Even if you plan to sell your house for cash, you can’t hide major problems from the buyer. An inspection will turn up issues, so you’ll want to address any known problems in advance. If you don’t fix the problem, you can offer the buyer a credit for fixing it. Also keep in mind that you are required by Maryland law to disclose known issues about your property, such as plumbing or electrical issues.
Not mentally or physically ready to go through the home selling process? Sell your house to 4 Brothers Buy Houses. We buy houses in Maryland for cash – and we’ll buy yours too! Contact us today for your free cash offer.
