We Buy Houses (Baltimore) – Tips for Selling Your Home to All Cash Buyers
If you're looking for We Buy Houses (Baltimore) services, then keep reading. Below, you'll find information on market trends, seller tips, and ways to tap into all cash buyers.
The real estate industry can be tough to navigate, and as a homeowner, it can be stressful to find a buyer for your property. Whether you plan on selling to an investor or a traditional homeowner, the process can be long and complicated. If you are looking to sell your home quickly and effortlessly, and are based in the Baltimore region of Maryland, then read on for some sound advice.
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Market Trends in Baltimore
One important thing to be aware of when selling a property is the market trends in your location. According to Redfin, some important information about the current market in Baltimore include the following (accurate as of January 2021).
- Median home value: $198,000
- Average sell price: 1% above list price
- Average time on market: 7-30 days
Baltimore is a somewhat competitive marketplace, and homes for sale are on average sold within a month of being listed and tend to sell for asking price. So, if you are looking to sell in Baltimore, it is important to manage your expectations.
Tips for Selecting a Buyer
There are two main options when it comes to selling your house in Baltimore. You can go through an agent and advertise your property in the traditional method – through Zillow and Realtor. This is the most popular way to sell property, and the benefit is that the agent does most of the work and organizes the legalities and complexities that come with the transfer of home ownership. The obvious disadvantage is that the agent will take a cut of the sale price for their commission, and fees and taxes can really add up. Selling for cash privately is becoming increasingly popular in Baltimore, and while it can be riskier (be aware of scammers), if managed properly, the benefits can often outweigh the cons.
Selling for Cash in Baltimore
You may have seen the signs posted around the city – We Buy Houses. So, what does this mean? There are a group of people in Baltimore that will offer to purchase some property for cash privately and will be able to negotiate a sale price while bypassing a lot of the extra costs associate with selling through an agent. The benefits with this type of private cash sale are that turnaround is quick, and no money will be wasted with a conveyancer or lawyers. The disadvantage is of course that the buyer will expect a lower price that could otherwise be gained. So, you will need to weigh the pros of a quick sale and lower costs with the cons of a lower sell price. Cash buyers are also usually willing to purchase properties as-is, so it can save you having to renovate or spend money on deep cleaning.
There are different types of cash buyers, as highlighted by Homelight. They could be investors looking to hold the property for an extended period. They could be flippers who look for discounted homes to renovate and sell for profit. Or traditional investors who see the hidden value in homes and could be willing to pay a premium for a property that they see as being in an ideal location or have a special feature. Different sellers will have different price points for the same property, and it is important to know the type of buyer you are looking for, depending on the property in question being sold.
How to Find Cash Sellers in Baltimore
There are several websites that advertise cash buyers that are looking for quick house purchases in Baltimore. If you are looking for a cash buyer, make sure you investigate what they are willing to pay, and any conditions (for example what work will they require to be done on the property). Examples of these websites include:
- problempropertypals.com – Will buy any property in any condition.
- directcashbuyers.com – No fees and no commissions.
- webuyuglyhouses.com – Includes multi-tenant buildings and commercial properties.
- sellmybaltimorehousefast.com – specializes in the Baltimore real estate market.
It is always better to go through a reputable website to avoid scams and time wasters and ensure that you ask a lot of questions when starting the selling process. This is your house that is going to be purchased, so you are entitled to get the information you need about the buyer. Advice for how to avoid scammers can be found at Fair Cash Deal.
There is no reason to make the sale of your property in Baltimore should complicated and drawn out. You and any potential buyers have the same end goal in mind – the transfer of ownership from you to them. There are plenty of resources in Baltimore for those wanting to sell their homes, whether it be through traditional means with an agent, or privately with cash. Do some research before signing any documentation to ensure that you are getting the most from your property, and remember, the quicker the sale the better.
Charles is the founder of infoSpike.com. He enjoys real estate investing, marketing, and personal finance. Read more about Charles here.