Yes, it really is that easy.
Step 2. Accept Our Offer
We use our offer formula to determine a cash offer for your house. We will provide this offer to you over the phone or after our appointment to to view your property. These appointments an be completed in-person or virtually.
Cash For House!
Step 3. Receive Your Cash
We let our local settlement agent know we are buying your house. They order a title search to determine if there are any liens or title issues to resolve before settlement. Once title comes back clean, a closing date is scheduled. On that date, you will receive the cash (typically in the form of a check or bank wire transfer) for your house.
Cash For Your House
How We Determine Our Cash Offer To Buy Your House In Maryland
Before we get started here are some of the terms you may see on this page and what they mean:
ARV (After-Repair Value) – This is the estimated price we will be able to sell the house after we buy it, fix it, and put it on the market to sell to the next homeowner. We review recent sales of similar houses that are nearby to yours in order to determine this value.
COR (Cost Of Repairs) – This is how much we estimate that it will cost to bring the house up to current market conditions by completing any necessary repairs and updating the finishes. This can include a new roof, siding, kitchen and bathroom remodels, electrical and plumbing updates, painting, flooring, etc. We bring the house up to the current conditions expected in the neighborhood for newly renovated homes. For some houses that will require brand new kitchen and bathrooms to be installed and for others the older kitchens are acceptable so our repair costs will be less.
SC (Selling Costs) – This is what we anticipate it will cost us to resell the house after we fix it up. When selling the house, we will have to pay commissions to a real estate agent and thousands in closing costs (that you avoid selling directly to us). Our minimum required profit is also included in this section. Our minimum allows us to “keep the lights on” and continue buying houses!
The Formula Broken Down For A House That Was Purchased AS-IS and Flipped
This is the house you are selling, for example. It’s in pretty good shape but could use some fixing up.
Now remember your neighbor’s house, the one just like yours, that sold recently? Well, it’s the same, except that they updated the kitchen and bathrooms, put on a new roof, took out the carpeting and put in hardwood floors.
Well, this is what this house looks like after it was updated:
No wonder it sold for $250K!
So we can sell your house (well, our house after we buy it from you) for $250K, we need to bring your house to at least the same condition as your neighbor’s house that was recently rehabbed so that we can also sell it for $250K.
Well, as a future homeowner, would you be interested in buying a home in need of repairs and updates for $250K when a much nicer house is listed for the same price? No, of course not!
A real estate agent listed this property for several months at $180K. It sold, several months later, for $160K. This tells us that the AS-IS market value of this house is $160K.
Based on the recent property sales in the area, we know what the house will sell for and what it will need to look like in order to sell for $250K.
Now we estimate the cost of repairs. This is done based on the description you provide or completed during our walkthrough of your house. So, for this example, let’s say the repair costs came to $60K.
Well, now we are ready to make you an offer!
As-Is Value = $160K
ARV (After Repair Value) = $250K
COR (Cost Of Repairs) = $60K
SC (Selling Cost) = 10% x $250K = $25K
Let’s say Our Minimum Profit For This Purchase = $25K
[Your Offer] = [ARV] – [COR] – [SC] – [Our Minimum Profit]
Your Offer = $250K – $60K – $25K – $25K = $140K
Your Offer = $140K
As you saw, this house is worth $160K AS-IS, meaning if you listed it with an agent you could sell it for $160K. However, after paying agent fees and closing costs you would probably get about $144K for it. That’s only after it sits on the market for 4 months or more (like this one did)! Meaning the house is costing you money every month in utilities, insurance, mortgage and tax payments, etc. and no one can guarantee that your house will actually sell!
Now you have a decision to make…
Sell your house for a guaranteed $140K (in as little as 10-20 days) or list it for sale to maybe get $144K but only after several months?
BUT Wait! What if the cost of repairs was $40K instead of $60K?
Now this is where things get interesting! Now the offer becomes:
As-Is Value = $160K
ARV (After Repair Value) = $250K
COR (Cost Of Repairs) = $40K
Our Selling Cost = 10% x $250K = $25K
Our Minimum Profit For This Purchase = $25K
[Your Offer] = [After Repair Value] – [Cost Of Repairs] – [Our Selling Costs] – [Our Minimum Profit]
Your Offer = $250K – $40K – $25K – $25K = $160K
That is what the house is currently worth AND $16,000.00 MORE than you would get if you sold it with an agent.
Again, our offers are based on the numbers, not on how desperate you are to sell!
What If I Need Something Other Than Just Cash For My House?
Need money from the sale of your house before you can move? Not a problem! We can arrange for you to have the time after we buy your property in order to do so.
Owe too much for the average buyer to pay but still need to sell? No worries! We can craft an offer where we take over your mortgage payments. Additionally, if the numbers make sense, we may even be able to pay you a monthly amount on top of the mortgage payment. So you could receive “money in your mailbox” each month without any of the hassles or headaches involved with keeping or maintaining the property.
Not sure where you’ll be moving after you sell your house? That’s just fine! We work with you to make sure that process is as smooth as possible after you sell your house. We can even point you in the direction of a local real estate agent or property manager to help you find your next home. Or if you, or your loved one, are in need of assisted living after the sale, we can connect you with local professionals to help you find the perfect place!
We Will Buy Your House In Maryland in Any Condition!
(We’ve seen it all!)
Get Your Cash Offer Now!
Think about it…
Do you have the time, energy, and resources to pay for repairs and maintenance while your house is waiting to be sold? What about paying the utilities and the mortgage every month?
Then you have to still pay the real estate agent a commission. Most homebuyers will also ask that you pay for some or all of their closing costs.
All of this adds up quickly… and your “top dollar” price quickly ends up amounting to a lot less than you had anticipated!
Sell your house in Maryland to us and you’ll enjoy a quick and easy sale! Avoid all of the hassle involved in getting your property ready to list with an agent.
What Others Have To Say!
“Offered Me $3,000 More!”
My parents’ house in Baltimore was in bad shape as it had been vacant for many years. Melanie said they weren’t sure if they could purchase it but she made an offer anyway and I accepted. After taking a few days to complete inspections, Melanie let me know they’d be able to buy the house and even offered me $3,000 above what we had agreed in order to help cover the out-of-state taxes I’d have to pay! Three weeks later, my house was sold! Thank you for a smooth and easy transaction Melanie!