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May 10, 2019

How To Get Out From Under A Mortgage

When you sign a mortgage, you are making a long term commitment. That commitment is legally binding and often lasts 25 to 30 years. Signing a mortgage means coming to an agreement with a lender, and then abiding by those terms for the length of the loan. Unfortunately, life circumstances change, as do market conditions. This can leave homeowners underwater and in need of help getting out of their mortgage. There are several different ways that homeowners can get out of their mortgage contract. Here are the options:    

Rent The Property Out

Renting the property out can give you immediate cash flow that covers your mortgage payments. This may be an option if you have another place to live while you collect rent. If rental demand for properties like your own is high, then you may be able to charge enough to sort out your financial problems over the long term. You should talk with a financial professional to see if this route is feasible for you.    

Conduct A Short Sale

If you are underwater, you can see if your bank will accept an amount that is lower than the outstanding loan balance. A short sale will ding your credit score, but it gives you more flexibility over handling the sale and that makes it more likely that you’ll be able to find a buyer. There is still the possibility that the bank will decline this option, or still try to collect the difference between the final sale price and the mortgage value from you.    

Walk Away From The Mortgage

This is the most damaging option from a credit perspective. Walking away from a mortgage will do serious harm to your credit score and make it difficult to purchase another home for nearly a decade. However, some homeowners who are dealing with mortgage issues simply stop making mortgage payments and leave the property.    

Deed Your Property To The Bank

This option allows homeowners to avoid foreclosure. It is technically called “deed in lieu,” a process in which your lender will forgive the amount owed on your mortgage in exchange for the deed to the property. The lender makes this money back by selling the home afterward.    

Sell Your Home For Cash

When you are having issues with your mortgage, selling your home can be a frustrating process. It doesn’t have to be. If you need to get out from under a mortgage, then 4 Brothers Buy Homes can help. We specialize in helping Capitol Heights, MD residents sell their homes quickly, even when they are behind on their mortgage payments. You don’t have to walk away from your mortgage or rent the property out. 4 Brothers Buy Homes will purchase your property for cash, giving you a way out from your mortgage. You can call today and get a free, no obligation estimate for your property.
May 10, 2019

5 Steps For Selling Your Maryland Home

Interested in selling your Maryland home? We’ve got all of the tips that you need in order to sell your home for the price that you want. The traditional property sale process is fairly long, and you’ll want to make sure that you have professional help along the way. Hiring a real estate agent is probably your best bet, as they understand the local market and know how to get your property more exposure on the web. Here are five steps to follow when selling your Maryland home:    

1. Start By Finding a Real Estate Agent

It may be tempting to sell your home without a real estate agent, but it isn’t a good idea. Without a real estate agent, you won’t have to pay commission. But you’ll likely lose money by reaching fewer prospective buyers and getting fewer offers. That means the offers you do get likely aren’t going to be what you are looking for. Check out some online reviews and start searching for a real estate agent who fits your needs.    

2. Determine Your Home’s Fair Market Value And Set Your Expectations

You won’t be able to sell your home if your expectations are out of sync with the market. Work with your real estate agent to establish what a fair market for the home is. You may need to do some repairs or improve the curb appeal in order to achieve that value.    

3. Make Sure You Understand The Listing Agreement

Your listing agreement describes your real estate agent’s responsibilities to you and to your property. Check to see what the commission percentage charge is as well. Generally, you can expect to pay 5-8%.    

4. Getting The Agreement Of Sale Right

Your agreement of sale governs the actual transaction. It specifies critical items such as the total deposit money, which repairs are necessary to complete the sale, and who pays for fees and local taxes. It also determines what happens if you need to back out of the deal, so pay attention here.    

5. Handling Closing

During the closing, you are probably going to want to be represented by an attorney with a background in real estate. Closing can be complex and you don’t want to make a decision on a legal issue that you don’t completely understand.    

6. The Bonus Step — You Can Avoid All Of This By Selling Your Home Cash

The good news is that if you are looking to sell your Maryland home, you can avoid all of these issues by simply selling your property to 4 Brothers Buy Houses. 4 Brothers Buy Houses specialize in buying homes in Silver Spring, MD, and we’d be happy to provide you with a free, no obligation quote. You can bypass everything from having to find a real estate agent to handling appraisals and listing agreements. Get fair market value for your home without the hassle of dealing with showing your property off to prospective buyers or dealing with attorneys during the closing process. Call 4 Brothers Buy Homes today.
May 10, 2019

Should You Trust Those “We Buy Houses Cash” Signs?

We’ve all seen them–the “We Buy Homes Cash” signs at suburban intersections. When you see one, you might think about the possibility of getting out of your mortgage, or what you’d do without the responsibility of being a homeowner any longer. Maybe selling your home will help you to get out of debt or pay off some bills. You may be interested, but you aren’t totally sure if those signs are legitimate. After all, isn’t selling a home supposed to be a long and difficult process that takes months or even years to complete? How could someone buy your home for cash just like that? The answer is that a significant portion of these companies are legitimate and will buy your property from you without any hassles. Here what you can expect from a company that buys homes for cash:    

How Do “Cash For Homes” Companies Operate?

Companies that buy homes for cash are often looking for properties that may need a little bit of work. Perhaps the property needs a few repairs that the homeowner can’t afford. The home buying company will expedite the purchase of the property and make an offer after a showing. The seller can agree (or decline) the offer and move on to the buyer’s contract stage. This process happens in just days or weeks instead of the months or years that it takes to complete the traditional property sale. There’s also no need for real estate agents, real estate attorneys, or cutting commission checks.    

How To Know If You Are A Good Candidate To Sell Your Home For Cash

A number of different types of homeowners may want to quickly sell their home for cash. You may inherit a home that you have no intention of living in, or you may own a home that needs repairs that you can’t afford. Maybe you are going through a divorce and want to sell, or have debts or bills that need to be paid in the near term. If you are frustrated with traditional property sale process or in need of cash quickly, then you may want to think about selling homes for cash.    

Avoiding Scams

There is always that possibility that the company behind the sign is a scam, or that there is no company behind the sign at all. That is why it is important to do online research before going into business with cash for homes company. Look for online reviews from multiple sources. You’ll also want to see if the company is registered with the state or if there are legal complaints pending. If you can’t find any information on the business, or if the only information that you find are negative complaints, then the company is likely one you want to avoid.   Thinking about selling your Maryland home for cash? 4 Brothers Buy Houses may be the right fit for you. We help Maryland families sell their homes for cash so that they can take the next step in their lives. Going through the traditional property sale process can be frustrating. It can be a long time between listing and closing, and you’ll have to keep making mortgage payments as you look for a buyer. Selling your property to 4 Brothers Buy Houses helps you avoid all of that. Sell your home immediately and get the fair value that you deserve.
May 10, 2019

The Truth About “we buy houses” Review Sites

Looking online for reviews of businesses that buy homes for cash? Watch out for websites that don’t provide the full picture. A large percentage of these websites are not actually providing reviews but paid advertisements for specific companies. These companies are trying to steer web traffic in their direction or take a shot at their competitors. Sometimes these review websites are simply a front to make a certain company look better. It is important for you to really read each review and determine if these are real people leaving ratings. There are people out there who actually make full-time money leaving good reviews for companies online! Here’s why you should be a bit skeptical of those online review sites:    

Not All “We buy houses” Review Sites Are Telling The Full Truth

Have you ever read a company’s reviews and felt that the people behind the screen weren’t real. Unfortunately, that is the case all too often. Not all review sites are telling the truth, and marketers make good money crafting a company’s image online with reviews and social media posts. If the reviews sound too good to be true, or there is a lack of authenticity, that’s a red flag.    

Many Review Sites Are Actually Paid, Advertisers

Businesses want to have a positive reputation online, and they’re willing to pay for it. That is why there is a sizable market that has popped up for generating fake reviews for company products and services. If a review site seems to favor one real estate company while constantly criticizing others, it is likely to be a front for paid advertising.    

Evaluate Each Site And Each Cash Buyer On The Merits

Not all review sites are compromised–there are a few out there that truly measure the experience that consumers had with a company. But when it comes to real estate businesses, you want to be absolutely sure you are getting accurate information. After all, buying and selling homes is a long and expensive process. You should evaluate each review site and each cash buyer business on their own merits. A good method is to not rely on anyone single website. Instead, use a multitude of sources to come to an informed conclusion.     It is important to remember that not all review sites have your best interests at heart. Often, these “we buy houses” review sites are actually paid advertisers who are well compensated to push homeowners in a specific direction. You want to make sure that the review sites that you visit are objective, it is important to check up on the reputation of the site around the web before trusting the information provided. At 4 Brothers Buy Houses, you can have full confidence in the quality of our service. We have a testimonials page with real homeowners who have sold their properties to us. You can watch videos describing how 4 Brothers Buy Houses approach the process and how we make homeowners feel comfortable and informed when deciding on whether to sell their homes. If you are interested in selling your home, check with 4 Brothers Buy Houses to get a no-obligation quote.
May 10, 2019

How To Sell Your Rental Property

Have a rental property that you are looking to sell? This is a process that can be a bit more difficult than selling a home traditionally. When selling a rental property, you have to decide a few things: whether you want to sell to an investor, how you are going to calculate projected rental income, and whether you are going to have the tenant stay in the property during the process. Fortunately, there are ways that you can make the process of selling a rental property a bit easier. Here is how you can get started:    

Learn How To Conduct Showings For A Renter-Occupied Property

During the process of selling your rental property, you are probably going to have a tenant still occupying the premise. This can make showing the home difficult. You want to work with your tenant so that you can show the home to prospective buyers when you need to. That means offering incentives for your tenant to make their lives easier during the sale. You may want to offer gift cards for a local restaurant so that your tenant can leave the home during showings–you want your prospective buyer to have unfettered access. You also may want to think about hiring a cleaning service to keep the property looking tidy as well. This reduces the amount of work your tenant has to do and builds some good will.    

Consider Selling To Other Real Estate Investors Or Even Your Tenant

Selling to real estate investors is often preferable because they understand the full value of the property and know what they are looking for. They may also buy with a tenant in a property. A tenant also may be interested in buying the home, and if they have steady cash flow and good credit, they may be a good candidate. If they can get pre-approved for a loan, then you may be able to sell quickly.    

Calculate Projected Rental Income For Prospective Buyers

Prospective buyers are often investors who want to know how much they can expect to make from the property. Most rental property owners provide prospective buyers with a 10-year projection of the property’s rental value. However, some are only concerned that they rent payment will cover the mortgage. So make sure to find out what each investor is looking for.    

Having The Tenant Stay In The Property Could Make The Sale Easier

When your tenant stays in the property, a buyer will be getting cash flow from day one. It will also allow you to continue getting rent checks until the deal is closed and finalized. Keeping a good tenant in place is often the most preferable option. If you want to sell your rental property quickly, without having to go through the process of calculating projected rental income for prospective buyers or conducting showings while your tenant occupies the home, then you may want to consider selling to 4 Brothers Buy Houses. 4 Brothers Buy Houses buy rental properties and can give you a free, no obligation quote on your property immediately. You don’t have to think about expensive repairs or spending money to improve your home’s curb appeal. Avoid the hassle and frustration that comes with selling a rental property by selling to 4 Brothers Buy Houses for cash.