Why Spring 2021 will be a great time to sell your house

credits: flashpack.com

With the Covid vaccination in the US, real estate in the DMV area is gaining confidence. Home sellers will be getting ready to dispose of their properties to get their investment back. Housing demand is high for the first quarter of 2021 and will continue this spring.

Low Mortgage Rates

With the pandemic, home selling is quick as buyers are taking advantage of low mortgage rates and it might end soon after this season.

Limited existing homes for sale

Buyers are actively looking for the perfect home this spring especially now that covid has changed the way people work.

Taking advantage before summer

With 3 Million vaccinations on a daily basis, the economy might go back going faster. Mortgage rates will go higher, home buyers will decrease and the window of opportunity of selling your home will take a longer time than we expect. 

Home Sellers will be on the rise

Home sellers will be on the rise this summer, traditionally, people are ready to sell their property this season. Competition in home selling will rise so get ready in preparing your property. We have tips for you in selling your home. Check it out in our blog section.

In conclusion, this spring 2021, let’s take advantage of this opportunity and sell your home. Even old houses can be bought in less than 8 days with an investor like 8 Day Home Sale. Take action and decide to sell it before summer. 

3 Things to do with your old vacant house

There’s a lot of reasons why some old houses are vacant. Some properties were inherited from their parents or relatives and some moved to another location for better mobility and career opportunities. Let’s face it, we do not want these old houses to rot. Also in some areas, these properties are robbed or vandalized because no one is living in them anymore.

Tip #1 – Rent it out

Here are practical solutions for your old vacant houses.

There’s a lot of reasons why some old houses are vacant. Some properties were inherited from their parents or relatives and some moved to another location for better mobility and career opportunities. Let’s face it, we do not want these old houses to rot. Also in some areas, these properties are robbed or vandalized because no one is living in them anymore.

Tip #2 – Have a family relative live on your property

e have family relatives that might be starting with their careers and family that might be interested in taking care of your old vacant house. Instead of relatives paying rent, why not have these families renovate that property and taking care of all the quick fixes for themselves. Be sure that they will be responsible for the property and visit them just to make sure.

Credit: Shutterstock

Tip #3 – Sell it fast with real estate investors

If you need to dispose of or sell your old vacant house, there’s a lot of real estate investors like 8dayhomesale.com who will buy the house. Fast transactions, especially with old vacant houses, are the niche of real estate investors. They take good care of your property and renovate it to find the perfect buyer for your once-old vacant house.

In conclusion, old vacant houses can be made into a perfect home for the right family.

Check out out our other blogs for more real estate tips especially in Washington DC, Maryland and Virginia.

5 Tips on how to sell your house fast

Let’s face it! Selling your house especially if there are events in our lives that we need to act quickly. Relocation is always better if you have sold your house before you moved out and get that needed money for your new home. So what are some hacks on how to sell your house fast?

Some old houses can’t be sold especially to banks because the value of the property is not worth investing in. So what can you do as a seller? Here are some tips from experience in real estate investing for more than 10 years. Investing in Maryland, Virginia, and Washington DC.

Choose the right real estate agent or investor

Real Estate Investor with Home buyer or seller

This one tip is crucial, this will decide on how many days you can sell your property, its either 7days or up to 60 days. Choosing a real estate investor can buy your property at a reasonable price without you renovating your house and can buy it from you with 8 days or less if the documents are already processed. Check out 8dayhomesale.com for more details of a real estate investor in Washington DC, Maryland, and Virginia.

Choosing a real estate agent is also an option but you also have to choose the agent with a lot of experience and business network. They know a lot about the location of your community and how to sell it. But with a catch, they want your property to be attractive enough for an open house to attract buyers to sell it. So it depends on your decision. If your property has recent renovations, you may not need to invest in a major fix.

Clean and Declutter 

It always one of the best tips for every home selling. Well, who wants to buy a dirty rotten house, right? If your house is in the market and buyers will see it, they will negotiate to lower the price for up to 20 to 30% of your asking price. That’s a lot! And you don’t want that. 

So the next weekend, schedule a major cleanup with your family and separate things that can be donated or be sold in a garage sale. Check out Marie Kondo’s tips on how to declutter things and you start right away! We need to sell your house fast, right? You can also hire a professional cleaning service to help you out with the cleaning and save a lot of money and time.

Goodhousekeeping.com has great tips on how and what to declutter. Check it out too!

Paint it white

Painting it white will increase your chances of getting it sold fast. Not red, not pink, and definitely not violet! Study shows that white is one of the best paint to attract buyers. It’s a symbol of purity and cleanliness, and buyers will appreciate a fresh white-painted property. Let the color white do the magic and get offers to your house.

Don’t get too emotional 

Based on our experience, a lot of people are getting emotional in selling their houses. The delay in selling it! A lot of excuses not to sell it. We interviewed a lot of emotional sellers and a major reason is that they grew up on that property and they have their closest friends in their community.

Think about the future, and let go of the past. Say goodbye to the property that you loved dearly. Do not worry because future homeowners will also take care of your home and make memories of it.

Quick Repairs will make magic

This is in relation to the Clean and Declutter tip, its twin brother. Faucets, squeaky doors, shelves, and electrical wirings are some of the things you can fix. Hire a handyman to make an evaluation on what parts of the house are needed for a quick fix. You will be surprised that there’s a lot of it. If your house is recently renovated, it might be few. 

A lot of buyers are always opening lights, faucets, cabinets, and everything they can open. They will open it. Trust me. They will open it. Of course, they want to buy the perfect house for them so they are keen on details in properties.

Take away

If you are really decided to sell it, these tips will take days to do. If you schedule it in your free time, this will be easy for you. Do it on weekends. Hiring some help will also do the trick, of course, you still spend a few hundred dollars for it, but it will be worth it. Maximize the value of your property.

If you want some other 5 minute reads, check out our Real Estate Blogs. It’s easy to read, and you will learn a lot from it. 

If you are from Washington DC, Maryland, or Virginia, we are investing in houses and buyers are satisfied with dealing with our sales managers. Check out our website and call us to give a reasonable cash offer. Sell it for 8 days or less and get your cash fast.

3 Reasons why more old house sellers trust wholesalers

Several years ago, more and more people are selling their old properties and having a hard time selling them. 

It usually on average takes them 6 to 12 months before they can sell their property. Renovating, dealing with realtors, and finding buyers for their old houses. Shelling out money for renovation, finding the best realtor to deal with, and scheduling with prospective buyers are time-consuming activities for many sellers.

With these concerns, real estate investors came up with the idea of buying it directly from the seller and gives them fast cash. Cash, in just 8 days or less.

Here are 3 reasons why you should trust wholesalers/investors to take care of your property:

  1. No broker/agent’s commission

Since wholesalers will buy it in cash, you do not need to give them a part of your sale, that’s 5% of the sale price. If you sold your property for $100,000, you will give the agent $5,000 upfront. If your property is around $300,000, it’s $15,000 for the real estate agent. 

  1. No more renovations for your property

It is also a great idea to renovate your property, right? Well, for some, it’s a good idea to do it because they will have to manage and design the kitchen, bedrooms, and bathrooms. But sellers will have to shell out around $30,000 to $70,000 on average to renovate the property. The seller will also spend 2-4 months of renovation. That’s a lot of money and time to spend if you ask me. Why not let the investor do the fixing and renovation for you? There’s a lot of real estate investors who are great at renovating properties, especially in the DMV area.

  1. Wholesalers buy your property fast

If you have decided to sell your property and you really want to get money fast, strongly consider selling it to a wholesaler. They can buy your property in 8 days or less if they see your property as a good fit at the right price. You can save a lot of time (around 6 to 12 months) and money (50 to 100k), conveniently walk away with what you really want.

In conclusion, wholesalers are there to help you out, solving out the concerns of sellers wanting to sell their properties at a convenient time. If you take a look at it, it’s also the same, shelling out money for commissions and renovations, scheduling appointments for the right buyer compared to selling it to a wholesaler at the right price.

Do you want to save one of the precious commodities on earth? Time? 

Then talk to wholesalers like 8dayhomesale. They handle Washington DC, Maryland, and Virginia. They buy houses and take great care of the next buyer.

How to buy a house in Washington, Maryland, and Virginia

A lot of movers, renters, and buyers of properties are taking considerations moving in Maryland, Virginia and Washington, DC.

But wait a minute, buying a house is not that easy, it’s not just a beautiful interior of the property is the only consideration in getting that dream house. We have listed down, factors to consider in choosing the best home for you because home buyers are very important to us.

Commute to work

If you were relocated to a new location by your employer, you have to consider the time getting to work. Less time to travel means less energy spent and more productivity for you. More time with your family, less stress means a healthier lifestyle.

One tip is to use Google Maps with your prospective property and your new work location. Do not do it on a Saturday with less traffic, do it on a Monday morning and see how long is your work travel. As a result, you will be satisfied with the travel time. You can now add plus points to your property.

Schools and Universities

If you have children, you have to consider what school they will go to, there’s a lot of great schools and universities in DMV (D.C, Maryland and Virginia) so choosing a home means also choosing the school for your kids, too! Check out great!schools.org about the ratings of the private and public schools in your desired property and see what schools to consider.

Check out these top universities in DMV states

Size of the home

It also depends on the perspective of the buyer what size they want in a home, some consider a minimalist or a bigger space. If you want to consider a smaller space, it’s usually near the urban area which is an advantage to those who work in it, less travel time.

But if the buyer is also a work from home employee, or a 2 to 3 times a week go to work employee, they can consider a home which is 1 hour away from their work. The advantage of these properties is that they have bigger floor areas which is best for bigger family. More backyard parties for them too!

Malls and other Commercial areas

A lot of people take considerations properties that are minutes away from groceries, malls and other commercial areas. It also depends on their lifestyles and personalities, right now, you can get your groceries and items to buy in Amazon and Costo thru online shopping.

Great hospitals are also a factor in choosing a property.

So research now and take these factors to consider in getting a property. List those schools, hospitals, commercial areas and be more specific in what you really want. We as real estate investors in 8dayhomesale.com are here to help you out.

5 Ways to prep your house to sell in the market

5 Ways to prep your house to sell in the market

Selling your house to get a better value in the market will take time. Here are some tips on how to prepare your house to get interested sellers to buy your house.

Hire a Handyman or Contractor

If your house was not recently renovated, we suggest you hire a professional handyman to do the work for you. Fixing tiles, painting walls and ceiling, and doing some rearranging in the kitchen will do many things to your house.

Research Research Research

Timing is everything especially when you will sell your house. It also depends on the season, some buyers invest on winter and spring. Some states have more buyer in summer and autumn, so research the market and get to know when will be the best time to sell.

Clean and Declutter

Buyers or investors love to see prospective properties clean and free from clutters. We suggest you watch “Tidying up with Marie Kondo” on how to declutter and save you some space. You can also earn money from selling old things like clothes, toys and appliances in a garage sale.

Paint those walls

Simply painting the walls will do the thing to make your property look brand new. If you have the time on a weekend, you can paint it yourself and save money from hiring a painter. Paint it white and see the difference from your old wall.

Look for a Real Estate Investor investor

If you want to sell your house fast, we suggest you search for an investor to save you time and effort. 8 day Home Sale gives you an opportunity to save you the time and money to do all those things like paperwork and fixing the house. Let us help you with all the work and take care of the rest.

Moving out from DC, Maryland or Virginia and move to a prime location? Check out our site for more details on how you can sell your house fast.

If you have a property and want to sell it fast and as-is, meaning no more hassles of agent’s commission and home renovation, check out our blog Everything You Need To Know About Selling Your Home As-Is.

“I WANT TO SELL MY HOUSE FAST!” DOES THIS SOUND LIKE YOU?

To sell your home quickly, you’ll either need to invest money in hiring pros or your time and elbow grease to get your house ready.

Motivated buyers ready to close quickly have likely already sold their current home, their apartment lease is about to expire, or they’ve just moved to town for a new job. These buyers will have their financing lined up and usually work with an agent. Motivated buyers are prepared to make an offer on the house in their desired location that is within their budget – and usually want a move-in ready home.

To attract motivated buyers and prepare for a quick sale, create a plan and to-do list—then tackle that list with gusto — stock up on cleaning supplies, large trash bags, packing boxes, and storage totes.

AGENT, FSBO, OR INVESTOR?

The first decision you need to make is whether or not to hire a pro to sell your home.

Most homeowners sell using a real estate agent. This listing agent works with you to set the price, market your home, hold open houses and showings, help you negotiate a selling price, and organize the closing for you. But as a seller working with an agent, you’ll pay your agent an average of 3% plus pay the buyer’s agent another 3% or so.

Consider for sale by owner – FSBO or “fizbo” – if you’d like to walk away with as much equity as possible. However, this option also involves more of your time. You’ll need to hire pros to shoot photos and appraise your home. Without an agent, you’ll have to show your home to prospective buyers, people you probably don’t know.

Real estate investors often buy homes as-is and for cash, making for a quick sale. Their goal is to make a profit on reselling your home. An investor may be a home flipper, landlord, quick reseller, or instant buyer. If the investor buys as-is, you can sell quickly with few or no repairs, less cleanup, and move on your timeline. The downside is you won’t get top dollar.

5 TIPS TO SELL YOUR HOME FAST

1. DECLUTTER, CLEAN, AND RENT STORAGE

Now is a good time to sort through your entire house and purge your wardrobe, garage, kitchen cupboards, and kids’ rooms of anything you don’t love or need. Decluttering will help you move into our new home go more smoothly. Your goal is to help buyers picture themselves living there, not you. Rent a storage unit in a convenient location because you’ll find yourself dropping off more boxes, totes, and furniture closer to your move.

Make your house shine and do your best to keep it that way until you move out. Shampoo carpets, wash walls, scrub windows, and clean curtains, drapes, and blinds. Bathrooms and kitchen must be spotless before each showing. If your home is dusty or smelly, consider having your air ducts cleaned professionally. Focus on curb appeal to make the best first impression.

2. MAKE REPAIRS

Motivated buyers ready to buy now aren’t likely to want a fixer-upper. Your home doesn’t have to look like an ancient haunted house to scare buyers away. Every broken cupboard door, cracked window, loose step, a dripping faucet, or cranky old furnace signals to those buyers that your home isn’t move-in ready.

Repairs that pay off include refinishing or replacing hardwood floors and replacing a worn roof, according to the National Association of REALTORS® 2019 report. Don’t worry about renovating an outdated kitchen or bathroom, but do make sure all rooms are clean and in good repair.

Lenders require a home inspection before they’ll approve financing for buyers. Anything safety-related must be repaired: loose railings or stairs, electrical issues, etc. If your roof is ancient or your HVAC is on its last leg, be prepared to replace before listing or offer buyers an incentive to have it done after they move in.

3. PRICE TO ATTRACT BUYERS

If you work with a real estate agent, they will give you a suggested selling price based on a comparative market analysis (a review of what has recently sold and homes currently on the market). Don’t let the agent over-inflate the initial asking price because that will exclude buyers who have set their max budget lower.

If you’re selling on your own, get an actual appraisal, which is a professional opinion of the value of the real estate. Hire a state licensed or certified appraiser who can tell you what your home is worth and what the asking price should be.

4. CREATE A TOP-NOTCH ONLINE LISTING

Like online dating, what you don’t say can be as telling as what you do say. Write a description that is honest, clear, and will make someone fall in love quickly. Get ideas by asking your friends how they’d describe your home.

When your goal is to sell fast, you won’t have the luxury of hoping for people to call for more information. But be sure to include extras like fireplaces, large kitchen island, family room opens to the kitchen, walk-in closets, attic storage, workbench in the garage, large pantry, etc. Describe the highlights of your outdoor space.

Hire a professional photographer. Your smartphone can’t capture rooms with the right angles and lighting. If your agent’s listings don’t showcase quality photos, ask for recommendations on which professional real estate photographer to invest in. Don’t let your agent talk you out of this. The more you can show online; the less guessing buyers will have to do. A 3D virtual tour – not a slideshow – lets buyers virtually walk through to get a true feel for your home.

5. MARKET ONLINE

A real estate agent may suggest you withhold details or limit the amount of information and photos you share online. That’s a strategy they use to generate phone calls that could lead to new clients. You don’t have time for that.

Posting a few pictures with a brief description on their company website plus Zillow, Trulia, and Realtor.com isn’t likely to move your house quickly. Your real estate agent can boost – advertise – your home through their business page.

You can post your home’s information on your personal social media. List your home on Craigslist, Facebook Marketplace, and social media local buy-and-sell groups (ask to become a group member). Facebook Marketplace and groups require you to update your posting at least weekly, so be sure to keep up with this.

SHORTCUTS TO SHOWINGS: HIRE PROS

If you have more time than money or you truly need to sell quickly, hire professionals to declutter and pack up your house. Hire cleaners to scrub your home from top to bottom, then have them come in to clean weekly. Have your carpets professionally steam cleaned. Hire a lawn service to mow, mulch, trim dead branches, and keep your yard and landscaping looking fresh. If it’s the right time of year to plant, have landscapers replace overgrown shrubbery with a fresh, new look.

Even if you are handy, to get your house on the market quicker, hire professional painters to give every room a neutral fresh coat of paint. Cabinets in good shape but outdated golden oak, hire a professional to re-stain in a trendier color.

If you’ve already moved out, consider paying for the professional staging of a home. Professionals can stage the home to make the most out of its attributes and minimize its less-than-finer qualities. Buyers will be able to picture themselves and their furniture in a home staged in this way. Ask your real estate agent for the recommended pros in your area.

WANT TO SELL YOUR HOUSE FAST, AND FOR CASH?

If you want to sell your house fast, we can help. We will buy your house as-is. No pre-sales prep or open houses. No repairs. No upgrades. No home inspections.
You will have a fair cash offer, and you can close on your timeline.
We are currently buying in MarylandD.CVirginia and Baltimore!

Everything You Need To Know About Selling Your Home As-Is

WHAT DOES IT MEAN TO SELL AS-IS?

An as-is sale means the homeowner is selling a home in its current state. A buyer should not expect the owner to make repairs or improvements before the sale, but rather accept the home in its present condition.

Some potential buyers who see “as-is” house sales consider it a warning of potential issues down the road.

But others, like investors or wholesalers, see it as an opportunity. People are attracted to as-is homes because buyers and purchasers save money. Sellers can also sell the house quickly and avoid unnecessary stress in the home selling process.

WHY SELL YOUR HOME AS-IS?

There are several reasons why sellers list their homes as-is without making improvements or updates. Perhaps they inherited a home and want to unload and liquidate it fast. Maybe there are too many repairs than the seller can afford. Or maybe they just want to move on with their lives and start looking elsewhere for a fresh start. In any case, an as-is sale typically requires a cash buyer, as certain maintenance or repair issues the house would preclude it from qualifying for a mortgage.

REPAIRS YOU OFTEN MUST MAKE

Your buyer’s financing may depend on you fixing certain serious issues. The lender may ask you to pay for electrical or plumbing issues or a new roof before the buyer gets the loan. If the buyer can’t get a mortgage, they can’t buy your house.

 Other repairs that you may be asked to do include

  • Building code violations
  • Structure defects: foundation, walls, support structures
  • Termite damage
  • Bats or squirrels in an attic
  • Leaking roof
  • Outdated or unsafe electrical wiring
  • Water supply issues, such as a well
  • Electrical systems
  • Mold and mildew
  • Broken pipes or major plumbing

WHO BUYS HOMES AS-IS?

Buyers investing in as-is properties should expect to inherit any problems that may come with a home in need of repairs. A buyer must sign a document that makes it clear that they understand they type of home deal they are getting into. However, the buyer still has legal rights to know the same information that the seller knows when moving forward with the sale. As a result, if there are any known problems, the seller is obligated to disclose them.

WHAT TO KNOW BEFORE SELLING YOUR HOME AS-IS

Even when selling a home as-is, sellers are still required by law to disclose any defects about the house. If a seller purposely withholds known information about the issues regarding the house, they may incur legal liability if the problems surface down the road. Disclosable flaws include lead, sewer damage, sinkholes, and flooding. However, disclosure requirements vary state-to-state, so be sure to check local state laws for necessary disclosure information.

In addition to making sure to disclose all relevant information about the property, as-is home sellers should expect to have to negotiate on the price. Even in an as-is sale, the buyer still has the ability to negotiate the final sale price with a counteroffer. As-is does not mean a buyer will never ask for repairs or compensations after an inspection. In fact, this type of negotiation is typical in all home buying processes.

If you’re considering selling your home as-is, here are some tips to help you make sure everything goes smoothly:

  • Obtain a Pre-listing Inspection

An inspection will tell the seller what they need to know about the house before they sell the house as-is. Getting a pre-listing inspection allows sellers to know what to disclose about the house’s condition and learn everything about the house before selling it. An inspection can help sellers decide what improvements and upgrades to make before putting the home on the market.

Additionally, a pre-listing inspection allows the seller to seek estimates for repairs needed so the seller can properly inform a prospective buyer about what may need to be done to the home. Some buyers will find the most expensive estimate on improvements needed as a bargaining chip for the final sale price. If a seller completes their own estimates, they will be in a better position to counter a buyer’s numbers. This will give the seller better negotiating power over the purchase price.

  • Make a Few Home Improvements Anyway

Cash home buyers are spending a significant amount of money on buying a house as-is house payment. The money that remains for repairs may be limited, particularly if they are real estate investors seeking to make a profit on re-selling the home. Making improvements to a home being sold as-is will result in a higher purchase price for the home, and are likely to cover the costs of the improvements in the first place.

Cash home buyers expect an as is home to need cosmetic fixes. With that said, it may be cost effective to do some minor renovations to improve the curb appeal of the home. Also, buyers are usually turned off from purchasing a home with major structural issues, like plumbing or roof damage. If you do consider making home improvements to an as-is home, just do the important home improvements. Common home improvements for as-is homesales include:

  • Replacing the roof,
  • Updating the electric panel,
  • Installing a new water heater,
  • Addressing any pests, mold, or water damage,
  • Repairing pipes, sewer connection, or septic system, and
  • Updating the HVAC system.

If a seller is willing to do these types of repairs, they are likely to land a higher purchase price at closing. This can help you sell a house quickly. Of course, an as-is seller always has the option to skip renovations altogether if appropriate for their budget and timeline.

  • Try Your Hand at Marketing

Marketing will help sell a house quickly. Doing some research and outreach will help you target the right kind of cash home buyer or investor. Make your listing description attractive. Tell the buyer all the great and accurate things about the home and paint them a picture that they can imagine themselves appreciating.

Rather than focusing on the as-is condition of the home, share about the positive aspects of the property. As-is sales are expected to need improvements, so be sure to discuss things like location, lot size, floor plan, and any unique features that may catch a buyer’s eye. Any of these elements can be great selling points.

And of course, make sure the sale price is reasonable. Do some research on the comparable prices are for your market and price your home accordingly. Recent sales of similar homes in similar neighborhoods will give you a good idea of what to price your home at. In an as-is sale, both the buyer and the seller know that repairs will be necessary. So do not try to up the sale price unreasonably – this will only cause your home to sit on the market unsold.

If you’re considering an as-is homesale so that you’ll sell the house quickly, consider working with 8 Day Home Sale. We’ll make a cash offer to buy your house in as-is condition, no repairs or cleanup needed. We’ll even help you move! Contact us today for a free, fair cash offer – we look forward to the opportunity to work with you Maryland, Washington, DC, and Virginia!

Understanding The Foreclosure Process In Virginia And Maryland

WHAT IS FORECLOSURE?

Foreclosure is the legal process in which lenders take back a property that is securing a loan. Foreclosure happens if the borrower has not made a mortgage payment in approximately 3 to 6 months. The foreclosure process is slightly different in every state, but there are two main types of foreclosure: judicial and power of sale.

JUDICIAL FORECLOSURE

  • Lender files a suit in the court system
  • The court will send a letter demanding payment
  • You have 30 days to bring payment to court to avoid foreclosure (extensions are sometimes possible)
  • If you cannot pay, the lender can request the sale of your property by auction and you will be evicted.
  • Any contractors or banks with liens against the property can collect from the proceeds of the auction

NONJUDICIAL FORECLOSURE (POWER OF SALE)

  • Lender serves you with papers demanding payment
  • There is a waiting period during which you can submit payment
  • If you do not pay, your property will be transferred to a trustee
  • The trustee can sell your property to the lender at public auction
  • Any contractors or banks with liens against the property can collect from the proceeds of the auction

FORECLOSURE IN VA

Virginia is a “title theory” state, meaning that the property title remains in trust until the loan is made in full. In most cases, Virginia residential foreclosures are nonjudicial. This means that the lender doesn’t have to go through state courts to foreclose. However, there are also cases of judicial foreclosures. Most of the time, after foreclosure, there will be an auction and the property will be sold. Post-foreclosure redemption periods are rare, but they are possible, and deficiency judgments are permitted. The whole foreclosure process takes about 2-3 months.

FORECLOSURE IN MD

Maryland is a “lien theory” state, meaning that a property acts as security for the underlying loan. In most cases, Maryland residential foreclosures are judicial. This means that a state court issues the final judgement of foreclosure, after which the property will be sold with public notice. Court determined post-foreclosure redemption periods may be allowed, and deficiency judgments are permitted. The whole process takes about 2-3 months.

HOW TO AVOID A FORECLOSURE AUCTION

In some cases, you can avoid getting foreclosed and evicted. It is always worth a try. You can call your bank and attempt to negotiate, or you can work with a reputable real estate company like 8 Day Home Sale to sell your property for its cash value before the foreclosure process begins. If you’ve received notice of foreclosure, there is no time to waste. Get in contact with us today Maryland and Virginia residents for a no-obligation, no-pressure, fair cash offer on your home.

Everything You Need To Know About Home Inspections

What is a Home Inspection?

A home inspection is an evaluation of a property that’s up for sale. The aim is to look for any potential issues, such as areas that need to be replaced or repaired. It’s also done to check if the property complies with the safety and building codes of some states. It’s carried out by a home inspector, who is a professional trained to spot issues and problems. 

The process can be initiated by either the buyer or the seller. Home inspection for buyers happens after the seller accepts the offer, but before the deal is closed. The seller sometimes does a home inspection before he or she puts the property up for listing, to help them determine how much to price it, based on the findings.

What happens after home inspection depends on the results of the home inspector’s report. If there’s a long list of issues with the home, buyers can choose to renegotiate the deal or opt-out entirely. What happens often, though, is that the seller is requested to fix the issues before turning it over to the buyer.

How Do Home Inspections Work?

To give you an idea, home inspectors are hired then typically paid after they complete the inspection of the home.

They will begin by going through each section of the house, taking detailed notes and photos of each area he or she sees. Most are very receptive to questions or comments if you need clarifications on specific areas. This is not only useful for the buyer but the seller as well, especially for areas you haven’t thought of.

Home inspectors will focus their attention on critical structural and possible safety hazards of the house. They often won’t comment on the visual or aesthetic aspects of the property, unless it’s a sign of an underlying problem.

After the inspection, the home inspector will then send a detailed report to both the buyer and seller. 

How to Prepare for a Home Buying Inspection

Preparing for a home inspection is a crucial thing sellers should do to increase the odds of a good result. It won’t cover up glaring issues like leaks and missing shingles. But you can do so much to clean up unnecessary things that might end up unfavorably on the inspector’s report.

Clean your house as thoroughly as you can. Replace filters if you have an HVAC system. Check your sink for clogs, then use a drain cleaner to unclog them if you can. If possible, you should also replace broken windows or door screens.

You can also speed the inspection process along by making sure the inspector has easy access to critical areas. Unlock your electrical panel or water heater, and make sure to lock away pets in your home, if any, as they can be a disturbance.

How long does a home inspection take?

This depends on the size of your home. On average, inspections on medium-sized houses should take no more than 3 – 4 hours to complete, unless big issues are found.

What do home inspectors look for?

Home inspectors are very thorough and have a detailed checklist of significant areas to watch out for. These often include the roofing, plumbing, and electrical wiring – three of the most common sources of issues in houses. They will also check for structural problems, as well as the presence of pests or molds.

What happens if you fail?

It’s important to realize that a buyer inspection of your home is not a pass or fail thing. It’s an objective assessment of your property. What happens after that depends entirely on your negotiations with the buyer. You can repair the issues or sell it at a lower price.

How to Avoid a House Inspection

In the typical buying process, it is unconventional to not go through a house inspection. A lot of buyers, especially in a buyer’s market, will require it. That’s understandable because no one wants to buy a property with underlying problems that can cost them thousands down the line.

If you’re anxious about a home inspection adding to your closing costs or don’t want to go through with it, there are better alternatives. The easiest is just to skip the traditional real estate selling process and go with an innovative company like 8 Day Home Sale. We buy houses for cash with our simple and hassle-free sales process. 

It begins when you contact 8 Day Home Sale. Once we discuss your property with you over the phone, you will receive a fair cash offer in as little as 10 minutes. 

We’ll then schedule a time to meet with you in person to explain the details of your cash offer. At that time, all you have to do is review the documentation, accept our offer, and we put cash in your hand as quickly as possible Washington DC, Maryland and Virginia residents. It’s that easy! With 8 Day Home Sale, there’s no need to go through a tedious house inspection that will result in days of back-and-forth with a potential buyer. Our process is quick and lets you sell a house for cash hassle-free. Give us a call at 301-242- SELL, and we’ll give you a fair cash offer in as little as 10 minutes.