Sell Your House

“We’ll Buy Your House If We Can’t Sell It!” The Biggest Scam in Real Estate Marketing?

You’ve seen it everywhere. On the signs along the road or in advertisements you find in your mailbox or hanging on your door: “We’ll Sell Your House in 60 Days or We’ll Buy It Ourselves!” “Guaranteed Sale – I’ll Sell Your Home Quick or Buy It Myself!” “Sell Your House in 90 Days Guaranteed!”

Is it real or just a scam?

The real estate agents who promise to sell your house within a certain amount of days do sell your home in the perscribed time. However, it’s all the fine print you have to worry about.

You must agree to many concessions, including many expensive upfront costs. In most of these “Guaranteed Sale” deals, you must agree to pay a high realtor commission, a home inspection, a professional home staging, a home warranty, and possibly other concessions. You also must agree to lower the sales price of your home after it’s been on the market for a certain period.

This “deal” is actually only a deal for the realtor, not you.

To sell your home so easily and quickly, you’ll have to agree to let the agent sell your house below market value. Because your home is below market value, it’s likely you’ll get a flood of offers. And, if your home still doesn’t sell, your realtor will purchase your home at an even lower price, stipulated in the agreement you signed, then resell it at market value, making the profit that you could’ve made with a more invested realtor! The most important thing to look for when trying to sell your house is a realtor who will be on your side, trying to get YOU the best deal!

“Guaranteed Sale” realtors are only looking for the best deal for themselves. Don’t fall for this real estate trick! We see this a lot in the Maryland location, Virginia location, and Washington DC location.

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Sell Your House

Pros and Cons of Renovating Your House before You Sell

To renovate or not to renovate. That is the question homeowners are asking themselves in the Maryland location, Virginia location, and Washington DC location before putting their house on the market!

You want to make it attractive to potential buyers, but you don’t want to spend unnecessary expense either. Whether you want to renovate your home before selling, or just put it on the market as-is is a choice that should be considered carefully!

Renovating before you sell PROS

  • Increases market value

Especially if the home you’re trying to sell has been around a while, renovation can give it a more up-to-date look, increasing its value and its attraction to potential buyers.

  • Provides a ready-made home

People searching for a new home have mostly likely seen tens or even hundreds of homes already. A renovation could be just what your home needs to stand out from the crowd. Making a few tasteful renovations can help potential buyers envision themselves living in your home.

  • Decreases reasons to not buy

Potential home buyers may feel overwhelmed by the amount of homes on the market, so, to narrow down their search, they are often critical of the smallest defects. By offering coveted updates, a newly-renovated home has less chance of being dismissed.

Renovating before you sell CONS

  • Time sucking

Renovations take time. If you don’t have time to oversee renovations, or you need to sell your home fast, renovating may not be the best choice.

  • More expensive

Renovating your home can quickly become costly, which may reduce your overall ROI.

  • Takes longer to be market-ready

Even though renovated homes tend to sell faster than non-renovated ones, renovations make it longer before you can put your house on the market. And sometimes that means you have to live in a home-turned-construction-site while the renovations are taking place!

8 Day Home Sale buys houses “as is” for a fair price. If you are looking to sell, talk to us first.

 

 

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Sell Your House

Sell Your House FAST with These 6 Tips

Perhaps the realtor just put the “For Sale” sign in your front yard this afternoon, or maybe you are just mulling over the idea of selling your house. Either way, consider these 6 timely tips to sell your house…FAST!

  1. Curb appeal. First impressions mean everything to a prospective buyer. Your front yard, including your entryway, is the very first thing a possible buyer is going to see, and it needs to look attractive. Make sure your lawn is mowed and plant fresh flowers around the entryway. Make it look inviting. If you are scratching your head, just ask your neighbors to offer suggestions. They’ve been staring at your house for a long time and those fresh eyes can give you ideas.
  2. Fresh coat of paint. Each room in your house should have a neutral color. Those old, bold colors have got to go. They may look nice to you, but a prospective buyer will have a different view. Paint those rooms with a neutral color and let the buyer’s imagination take over.
  3. Clean. Clean. The new owner won’t want a house that needs carpets cleaned, bathrooms cleaned, etc. They want a house that is ready to be moved right into and they don’t want to imagine 2 weeks of cleaning. Again, ask neighbors over to see where they think the house is dirty and needs cleaning.
  4. Smell the cinnamon! Grab a bunch of air fresheners of exactly the same scent and put one in every room. Cinnamon works well because it reminds people of warm family times. You want to make use of all of the senses.
  5. Big TV. One of the best tips I’ve used through the years is to buy a brand new, big screen TV, leave it in the box, and put a large sign on it: Housewarming gift to the new owner! Put it in the living room, still in the box. This tip will really help to sell your house fast!
  6. 40 days. Tell your realtor you want to sell your house in 40 days. They will recommend a price that will fit your local market. You want to sell your house fast, and 40 days is a fairly common time frame for correctly priced houses.

If you are looking to sell your house fast in the Maryland location, Virginia location, or Washington DC location, contact us.

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Sell Your House

How to Sell a Vacant Lot

While selling a home can be a challenge in any market, selling a vacant lot or piece of land in the Virginia location, Maryland location, or Washington DC location can be even more difficult.  With a vacant lot, you can’t showcase a beautiful home, and the buyers are different. For these reasons, different aspects like size, location, zoning, and the neighborhood are much more important. Choosing the best method to sell can also be tricky. Here are our tips for selling land without a home.

Know What the Buyers Want

Since you can’t have an open house, your land needs to look its absolute best. Buyers will want to know about the size, condition, zoning, and location of your property. Each buyer will have a different plan for the plot of land they purchase so keep that in mind too.

List on an MLS?

Multiple listings services are tried and true tools used by sellers and buyers alike. They are the go-to tool for many real estate agents and are a great way to sell a home. Selling land, on the other hand, can be a little trickier. Like we mentioned, you can’t post any pictures of gorgeous kitchens or spacious living rooms when all you have is a vacant lot. The MLS might not always garner you the most money and you’ll have to pay a listing agent.

Close Fast and Easy with an Investor

If you want to sell your land fast, you should consider contacting investors in the area. Chances are there is a speculative investor in your area willing to buy your land now. If your land is in a prime neighborhood, your odds of selling quickly increase. Keep in mind, that investors typically offer low prices on the land they buy because they want to flip it or have other plans. On the plus side, they usually won’t require any financing, however.

Whichever method you choose to sell your land, patience is important. If the land is in a great location, you’ll have more success, but if you price your property right, buyers are sure to come.

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For Sale by Owner

Pros and Cons of Selling Your House Yourself (FSBO)

If you’re considering the sale of your house in Maryland, Virginia, Washington DC, or Baltimore, you have lots of questions. Selling your house is one of the largest financial transactions most people do in a lifetime, you want to make sure you make the right decisions and avoid unnecessary costs which eat into your profit. Perhaps you’ve even wondered if you really need an agent to sell your house; after all, you can easily meet potential buyers and show your home…but is that all there is?

Before you decide to try and sell your house without an agent, learn the pros and cons associated with the “go it alone” technique known as “for sale by owner”.

Pros of Selling Your Home as a FSBO

Save Money on Commissions

Selling your home as a FSBO (for sale by owner) will certainly save you the cost of commissions for the listing agent. While all commissions are negotiable, most range from 4-6% nationwide. Typically, half of the negotiated commission is then offered to the agent who finds the buyer. Most FSBO listings still sell to a buyer with their own agent, thus you save only half the cost of commission.

No Strangers in Your Home

By selling your home as a FSBO, you never need to worry about who’s in your home or with whom. You will arrange all showings yourself and will be present for the visits.

Control of the Process

By representing yourself in the transaction, you can control what is communicated to the other party. You control the negotiations at every stage of the process.

Cons of Selling Your Home as a FSBO

Pricing

While overpricing a listing is bad, underpricing the listing is worse. When you are not privy to the market analysis in the MLS (Multiple Listing Service), you do not have the most comprehensive data to use when pricing your home for sale.

Time

Arranging home showings takes time. Not only is it common for buyers and their agents to run late, or early, but you must be there to meet each party.

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Sell Your House

When Is the Best Time to Sell Your House?

How long have you been thinking about selling your house in Maryland, Virginia, or Washington DC? Is your current property too large? Too small? Too expensive? Too hard to manage? Are you ready to travel more? Whatever the reason, you’ve been thinking about a move but you don’t know if it’s the right time to move?

The right time might have arrived!

The truth is that whenever you need to sell is the right time. There are advantages and disadvantages for all seasons. Certainly the spring selling season gets the most attention, but selling a home during the slower winter months has advantages as well. For one thing, in the winter there is less competition as home sellers wait for the warmer months to list. Additionally, buyers tend to be more serious as the effort it takes to view homes in the ice and snow is less appealing than dropping into an open house while out for a summer drive. Finally, your house in Maryland, Virginia, or Washington DC never looks better than when it’s dressed for the holidays.

The first step in making a good decision is information. You would be amazed how many people will use stories they’ve heard at the grocery store to make the decision to sell a home. Selling a property is one of the largest financial transactions a person makes in a lifetime, you have to get all the information you can to make that informed decision.
So is it time to sell?

You might have more money sitting in your home than you expect. If selling this time of year makes personal and financial sense for you and your family, then sell. Take the time to learn more about the current market and available properties and then examine your own goals. Selling a home in any season has advantages; the timing has more to do with your own needs and wants.

As always at 8 Day Home Sale, we buy houses in Maryland, Virginia, and Washington DC for cash. If you need to sell your house fast, let us know.

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Sell Your House

How to Know When It’s the Right Time to Sell Your House

Almost everyone will sell their house at some point. Here are some indications that will help you find the right time to sell my house fast in Maryland, balancing market conditions and your life situation.

House Values

Many people will tell you “if your house has increased this much in value, it’s time to sell”. In reality, no one can predict the market or how much your houses value will rise. Aside from massive economic corrections, home values tend to rise except in specific circumstances. You certainly don’t want to sell if your house’s value hasn’t risen enough to cover the closing costs and realtor fees that you’ll have to pay. Look for comparable home sales in Maryland on Zillow to better understand your house’s value.

Lifestyle Change

If you’ve had a major life event, such as having a child or losing a spouse, it could be time to sell my house fast in Maryland. If your lifestyle does not fit your house, e.g. the house is too big or not in the right school district, it’s time to sell. The quality of your life is more important than losing thousands of dollars in the short term.

Financial Issues

If you can’t afford a house any longer, either because you are burdened by mortgage, taxes, or upkeep. It might be time to sell.

As always, if you are looking to sell my house fast in Maryland, 8 Day Home Sale can help. We buy houses in Maryland for cash, paying all closing costs and charging no fees. We even clean out the house for you.

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House Title, Sell Your House

Understand Title Insurance

While terms like car insurance and homeowners insurance are quite familiar to most of us, most are unaware of title insurance and its importance. It is a crucial part of any house purchase.

What is title insurance?

When selling your house, your closing attorney executes a title search to ensure that the property is free of any existing liens or zoning restrictions. For this, he looks at the deed papers as well as court records for ownership history verification. Title insurance plays a crucial role here. A special type of indemnity policy, it safeguards your financial interests if you face any type of defect with the property’s title. If you are trying to sell my house fast in Maryland or Washington DC, title issues can be a huge problem.

At the time of title insurance policy purchase, an independent search is conducted by the title company to verify that there are no disputes or legal issues surrounding the property’s ownership. Usually, you are required to pay a one-time premium for the policy at the time of closing. Any future discrepancy when the house is sold that needs to be fixed by an attorney will be covered by title insurance.

Protection provided by title insurance

The coverage provided by the title insurance typically depends on whether the policy belongs to the lender or the owner. A lender’s policy is purchased if you are taking a loan from a public mortgage lender. It provides insurance to the full loan amount to the lender if any dispute or problem arises with the home’s title post financing. The policy remains valid until the time you pay off your entire loan, sell the house, or get it refinanced.

The owner’s policy covers the amount paid for purchasing the home. It covers numerous problems like tax liens, deed errors or omissions, fraud, mistakes in public records, forgery of deed documents, etc. It also provides protection in scenarios of unknown heirs surfacing to stake a claim on the property. Few of these policies can also offer extended coverage like protection against structural damage, building permit violations, zoning law violations, etc.

In case of title dispute, both policies cover all legal costs and losses including your down payment, principal payment or any other improvement cost incurred by you.

Is the title insurance really worth it?

The one-time premium amount of title insurance depends on your area of residence and the policy itself. Usually, the cost can be about $2.50 for every $1,000 of coverage. The owner’s policy is slightly more expensive than the lender’s policy. The total title insurance amount can range from few hundreds to few thousand dollars which may look big but is trivial compared to the cost of facing a lawsuit later and getting a complete peace of mind.

Bottom line

Title insurance is worth the money. Without it, the cost of defending a title claim can prove so expensive that you may lose your property.

As always, at 8 Day Home Sale, we buy houses in Maryland and Washington DC for cash. If you want to sell your house, contact us for a cash offer. We will handle title issues for you!

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Sell Your House

What You Don’t Know about Zillow

Zillow’s website is often the first place to be visited by people who want to sell their house fast for cash in Maryland. However, majority of these persons often feel disappointed with the results they get at the end of their search. Although the Zillow online marketplace is highly revered in the American real estate industry for its practical resources, it may not be the best place for you to sell if you’re planning to sell my house fast in Maryland and hassle-free. The majority of the information on the platform is not sufficient for you to make informed decisions.

If you’re planning to sell my house fast in Maryland in exchange for cash, here is a few reasons why you should not list your home on the Zillow website:

Incorrect Home Estimates: In case you don’t know yet, most of the home values you get from Zestimates are not accurate. This is so because a computer cannot actually determine the true value of a home since there are so many factors involved in determining it’s worth. Zillow doesn’t do field inspection to check out the details of each property. The computer algorithm only generates home values based on what has sold in the area, the square footage, and the number of bedrooms. The truth is that no two houses are the same. People often make changes to their homes which Zillow obviously won’t be aware of. These changes affect home values.

Unsolicited Communication: Once you enter your information into the Zillow database, expect your phone to start ringing with unwanted calls. Since your information will be shared with hundreds of agents, you’re going to spend hours attending to lots of annoying calls, texts, and emails from different peoples. In fact, these unwanted calls could last for months.

Inaccurate information: Many homes listed on Zillow may not be available for sale. This inaccurate information often pushes away potential buyers who have experienced false leads in the past.

Most people only visit Zillow to get rough estimates of the values of properties in a particular neighborhood. They do not intend to buy through the platform. If you’re looking to sell my home fast in Maryland, Zillow is not the right platform for you.

If you need instant cash for your home, you can always contact 8 Day Home Sale. We buy houses in Maryland for cash.

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