Consumers in Baltimore, MD sell their homes for a variety of reasons. We are a much more mobile society that we were even 20 years ago. Today consumers think nothing of buying a home, living in it and then moving on to another home within a few years. They move because they do not like their current location, they need more room, they need to be closer to their jobs and some need to be closer to relatives.
Then there are financial reasons for moving. They inherit a home from a family member, there are debt issues they are dealing with and many do not want to deal with the repairs that may be needed on their homes. Unfortunately, they have not kept up with repairs and they need to spend thousands of dollars on repairs they have been delaying. Many just want to sell quickly and are turning to investors to sell their homes quickly.
Why Sell Your Home to an Investor in Baltimore, Maryland?
When you sell a home using the traditional approach of listing your home through a real estate agent, it typically can take as long as three to six months to sell a home. The length of time it takes to sell your home depends on the market, the condition of your home and the price your asking. Price it too high with lots of repairs and your home may never sell. Many prospective home owners are looking for move in ready homes that do not need a lot of repairs or upgrades.
This is where an investor can solve all of your problems by purchasing your home as is and closing within a couple of weeks. Not only do you not have to wait months to sell your home, consumers avoid spending money on repairs and upgrades and of course avoiding the real estate commission associated with listing your home.
But Don’t Investors Offer Low Prices
They will offer a lower price than what a real estate agent will tell you your home is worth on the market. This is assuming all of the repairs are completed and it is freshened up with minor upgrades and a new coat of paint. Once you factored in a negotiated price for your home, the real estate commission and the money you spend on repairs etc., the difference is much less.
Consumers should also consider the additional mortgage payments, the property tax payments and the utility bills they will be paying while their home is waiting to sell. What if it does not sell? These costs just continue to add up.
Investors in Baltimore, Maryland will offer a reasonable price for your home that factors in the repairs that may be needed, along with the costs associated with purchasing your home and later selling it. They may also decide to rent out the home for a period of time to help defray the costs of carrying the property.
How Quickly Can You Sell Your Home
In a matter of weeks, your home can be sold and you have the proceeds of the sale, less your mortgage in your hands. Once you provide the investor the details about your home, the mortgage, tax rate etc., they will inspect the home to come up with a fair market value. If they decide to make an offer and it meets your needs, the sale of your home can close within a week or two. It can be that quick.
While the price the investor offers for your home is going to be less than a real estate agent may suggest it would sell for if listed on the market, compare all of the cash flows before making a decision. In addition to carrying costs while you are waiting to sell your home, you may also want to consider the home you have your eye on and whether it will slip away before you sell your own home.
As soon as you have a firm offer from an investor and it is accepted, consumers can make plans to move to a new location with confidence that their home is sold and they will receive the net proceeds within a very short time. Selling to an investor in real estate in Baltimore, MD is a viable option for many consumers.