5 Top We Buy Houses for Cash Companies in Baltimore
- Published on
- 14 min read
-
Richard Haddad, Executive EditorClose
Richard Haddad Executive EditorRichard Haddad is the executive editor of HomeLight.com. He works with an experienced content team that oversees the company’s blog featuring in-depth articles about the home buying and selling process, homeownership news, home care and design tips, and related real estate trends. Previously, he served as an editor and content producer for World Company, Gannett, and Western News & Info, where he also served as news director and director of internet operations.
-
Sam Dadofalza, Associate Refresh EditorClose
Sam Dadofalza Associate Refresh EditorSam Dadofalza is an associate refresh editor at HomeLight, where she crafts insightful stories to guide homebuyers and sellers through the intricacies of real estate transactions. She has previously contributed to digital marketing firms and online business publications, honing her skills in creating engaging and informative content.
While planning to sell your home in Baltimore, you’ve probably seen those ads from “We Buy Houses for Cash” Baltimore companies and wondered if they’re legit, especially if your home still isn’t in great shape for selling. The truth is, these businesses are eager to make cash offers on homes like yours, which can be a lifesaver if you’re not up for fixing things up.
Whether you’re dealing with a sudden change in life, such as a divorce or a job relocation, or you simply want a fast sale, this guide will help you weigh the pros and cons of working with house-buying companies to determine your best option.
Sell Your House Fast in Baltimore With an All-Cash Offer
Get an all-cash, no-obligation offer through HomeLight’s Simple Sale platform whenever you’re ready. Receive your offer in 24 hours and close in as few as 10 days. No showings, no repairs, no open houses. Available to sellers throughout Baltimore, Maryland.
Editor’s note: This post is meant for educational purposes and does not constitute financial advice. Links to and mentions of Baltimore area “we buy houses” companies should not be considered endorsements.
Working with house-buying companies in Baltimore
Here’s a basic step-by-step guide showing the general process of selling a house for cash in Baltimore:
- Research local options: Start by searching for “We Buy Houses” companies in Baltimore. Check their websites, reviews, and any available customer testimonials to shortlist reliable companies.
- Contact the company: Reach out to your chosen firm. They’ll typically ask basic questions about your home’s condition, location, and existing mortgages or liens.
- Schedule a home assessment: Most companies will send a representative to inspect your home, evaluate repair needs and potential after-repair value, and determine an offer price.
- Receive an offer: The company will then present an all-cash offer based on their evaluation of your property and local Baltimore market conditions.
- Review the terms: Ensure you understand the offer’s details, including any fees or costs deducted and the expected timeline for closing.
- Accept or reject the offer: If you’re satisfied, you can accept the offer. Compare several cash offers before you commit to a company.
- Finalize the paperwork: Once an agreement is reached, the company will provide you with the necessary paperwork to transfer ownership. It’s recommended to have a legal professional review these documents.
- Close the deal: After all the paperwork is signed and submitted, you’ll receive your cash, typically within days, allowing you to move on with your plans without delay.
Remember, while this process can be quicker than traditional home selling, always prioritize your comfort and understanding at every step.
Popular We Buy Houses for Cash companies in Baltimore
If the process of selling to a house-buying company in Baltimore sounds good to you, it’s time to find a legitimate operation you can trust.
We’ve compiled some top companies that pay cash for your parents’ AirLite or Federal-era row house. By selling to one of these companies, you should be able to sell your Baltimore home in as little as a week or two.
Chris Buys Homes
Chris Buys Homes in Baltimore is a locally owned and operated enterprise with a deep-rooted reputation in the Baltimore real estate industry. This homebuying company was established to aid homeowners facing the overwhelming challenges of selling properties. Its website states that it pays more than other firms, as it works with repair contractors who provide discounts, enabling the company to maintain excellent profit margins.
Working on the premise that every home-selling scenario is distinct, the business offers tailored solutions to accommodate homeowners in diverse situations, whether foreclosure, probate, or other burdensome circumstances. Its commitment lies in devising mutually beneficial strategies, ensuring homeowners can move forward with their lives without undue stress.
Locations: Baltimore
Closing costs: Chris Buys Homes often pays for closing costs.
Clients of Chris Buys Homes in Baltimore express high levels of satisfaction with the company’s services. They commend the smooth and hassle-free nature of the home-selling process, emphasizing how the company eased their stress. The cash offers are noted to be fair, and the team’s understanding, attentiveness, and flexibility stand out as significant factors in their positive experiences. Clients also appreciate the speed at which they could sell their homes. Many are eager to recommend the company to friends and family. Chris Buys Homes’ Google rating is 5.0.
Website: chrisbuyshomesbaltimore.com
Phone number: 410-237-8034
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Baltimore (and across the country) can request a cash offer for their home. Simple Sale connects you to the largest network of cash buyers in the U.S. Partner investors have a wide range of investment strategies, including fix-and-flip and buy-and-hold. This enables Simple Sale to provide cash offers for a wide array of properties, even those that need some or a lot of work, in different locations throughout Baltimore.
With Simple Sale, you can get a no-obligation, all-cash offer in as little as 24 hours and sell your home in as few as 10 days, skipping the months it can take to sell the traditional way.
Locations: Nationwide, including Baltimore
Closing costs: No prep costs, no agent commissions, and no fees charged by HomeLight. Individual investor fees may vary.
Simple Sale is a HomeLight platform. HomeLight was founded in 2012 and is BBB-accredited with an A+ rating. The company has 4.6 stars on Google based on more than 500 user reviews. Below, you can hear about how Baohan Wu, a seller who used Simple Sale to sell his high-rise apartment, closed within three and a half weeks and what he thought of the process overall.
Learn more: homelight.com/simple
Phone: 844-488-8455
Ultra Homebuyers
Ultra Homebuyers, a real estate investment company, was established with the mission to assist homeowners who need to expedite the sale of their houses. Recognizing that traditional selling methods may not suit every homeowner, the company offers quick and efficient solutions.
It stands out with its ability to purchase homes rapidly with cash, catering to properties in any condition or circumstance. The staff’s expertise lets them address various situations, positioning themselves as the go-to solution for homeowners seeking a hassle-free sale.
Locations: Baltimore
Closing costs: Seller pays no closing costs; Ultra Homebuyers covers them.
Ultra Home Buyers has been BBB accredited since 2020 and holds an A+ rating. Clients have had notably positive experiences with the business, particularly praising its speed, efficiency, and professionalism. Many appreciated the hassle-free approach to home selling that Ultra offers, including quick cash purchases and comprehensive handling of the sales process.
The company consistently provided clear communication, ensuring homeowners were informed every step of the way. Clients in urgent situations particularly found relief in Ultra Homebuyers’ ability to offer fair prices and a smooth process for rapid home sales. Its Google rating is 4.7.
Website: ultrahomebuyers.com
Phone number: 855-759-1454
We Buy MD Homes
Founded by Maryland native Brad Dwin, We Buy MD Homes is a well-established cash house-buying company deeply rooted in revitalizing local neighborhoods. Drawing from a decade of experience following the 2007 housing crisis, Brad collaborates with non-profit and government agencies to help American families retain their homes, marking him a credible house-buyer in the state. The company stands out for its swift 24-hour offers, flexibility with as-is properties, and ability to accommodate homes with tenants.
Locations: Baltimore and all over Maryland
Closing costs: Sellers pay no closing costs; We Buy MD Homes covers them.
We Buy MD Homes has been BBB accredited since 2020 and holds an A+ rating. Customers consistently praise the We Buy MD Homes staff for their outstanding service. Reviewers frequently note the company’s professionalism, understanding, and swift processes.
The ease of selling, even for properties requiring extensive repairs, is a recurring compliment. Furthermore, clients value the firm’s fairness in pricing and flexibility in handling diverse situations, including challenging tenant scenarios. With its professional services, the company earned a Google rating of 4.8.
Website: webuymdhomes.com
Phone number: 410-807-8767
Home Buyers Express
Home Buyers Express, spearheaded by Andrea Perry, stands as one of Maryland’s eminent real estate businesses. Founded over two decades ago, this firm has a rich history of buying and revamping hundreds of houses, firmly establishing its credibility in the region.
Andrea’s prior ownership of Custom Mortgage Corp. for 12 years further accentuates her profound expertise in real estate. The company’s distinct approach focuses on crafting custom transactions for clients, ensuring they enjoy a smooth buying or selling experience.
Locations: Baltimore and all over Maryland
Closing costs: Sellers pay no closing costs; Home Buyers Express covers them.
Home Buyers Express has been BBB accredited since 2020 and holds an A+ rating. Clients have consistently lauded Home Buyers Express for its professional, transparent, and accommodating approach to home buying. Many appreciated the company’s capacity to handle homes needing significant renovations, with company president Andrea Perry receiving praise for her hands-on involvement and fair offers.
The company’s swiftness in transactions is a recurring highlight. Additionally, Andrea’s willingness to tailor the home-selling process to fit clients’ schedules and needs, such as personalized home visits for settlement, underlines the firm’s commitment to customer satisfaction. Its Google rating is 5.0.
Website: homebuyersexpress.com
Phone number: 410-274-9678
Why sell your Baltimore house for cash?
There are plenty of valid reasons a Baltimore home seller may choose to work with a Cash-For-Homes company. Leading the list are the benefits of speed, certainty, and remarkable convenience.
In Baltimore, it typically takes around 84 days to sell a home using an agent. That includes an average of 41 days on the market and the typical 43 days a buyer needs to close on a purchase loan.
Compare that to the typical seven to 10 days promised by many house-buying companies in Baltimore, and it’s clear why these Cash-For-Homes groups are an attractive option, even though they don’t always offer top dollar for the homes they purchase.
Curious about why Baltimore residents might opt for this over the traditional listing? Here are some scenarios to consider:
- Deteriorating home condition: Homes in Baltimore might suffer from age-related issues or area-specific problems like a collapsing roof, pest infestations, or water damage.
- Urgent life events: Life can be unpredictable, from sudden job transfers and divorces to medical emergencies. A quick sale provides relief during these challenging times.
- Lack of funds for renovation: Not every homeowner has the budget or inclination to spruce up their property before selling.
- Avoiding the hassle: Bypass the stress of home staging, showings, and prolonged negotiations that come with traditional sales.
- Desiring discretion: Some sellers prefer a low-profile sale, keeping their business private and off the mainstream market.
- Foreclosure looming: Selling the property can be a means of settling debts and protecting one’s credit before things spiral.
- Handling inherited property: Managing an inherited house can be daunting, especially if it comes with its own set of issues.
- Landlord fatigue: Whether dealing with challenging tenants or simply wanting out of the landlord business, a fast sale provides an exit.
- Elderly moving to care: Families might opt to sell a senior’s home quickly if they’re downsizing and transitioning to assisted living or moving in with relatives.
- Out-of-state homeowners: Selling a property from afar can be cumbersome. A quick cash deal simplifies the process.
For Baltimore homeowners resonating with these situations, a cash offer from a We Buy Houses entity could be worth exploring. Nevertheless, it’s essential to view this as an initial step. Before making a choice, it’s wise to familiarize yourself with all potential benefits, drawbacks, and options.
Pros and cons of house-buying companies in Baltimore
In the complex world of Baltimore real estate, house-buying companies promise speed and an as-is sale, eliminating the stress of home repairs and the delays that come with a conventional sale. Here are some key advantages to consider:
Pros
- Swift transactions: House-buying companies in Baltimore often close deals in days, allowing sellers to move forward rapidly.
- No repair requirements: There’s no need to invest in home renovations or fixes; these companies buy properties in their current condition.
- Straightforward process: Simplified selling steps and transparent terms create a stress-free experience.
- Cash offers: Immediate cash offers eliminate the worry of loan approvals falling through or extended waiting periods. Fast access to proceeds can be a welcome solution for sellers facing a financial deadline
However, while these advantages can be tempting, there are some trade-offs. Primarily, selling to these companies might mean settling for less than your home’s potential market value.
Cons
- Below market value offers: Because house buying companies resell homes, they’ll often provide offers lower than what a top real estate agent might fetch.
- Limited negotiation: Unlike traditional sales, there’s typically little to no room to haggle over the offer price. Most of these companies provide take-it-or-leave-it cash offers.
- Potential for scams: Not all We Buy Houses companies are reputable, and there are scammers who pretend to be cash buyers. It’s crucial to vet any company before proceeding.
- High-pressure sales: Cash For Homes companies know that homeowners in need of a fast sale often face a desperate situation. While most reputable outfits offer real solutions, some companies take advantage of this urgency by applying uncomfortable pressure tactics.
Weighing these benefits and drawbacks can help you get closer to making an informed decision. However, two more important steps are to vet who you’re working with and determine your home’s value before accepting any offer.
Curious What Your Home Is Worth?
Get a near-instant real estate house price estimate from HomeLight for free. Our tool analyzes the records of recently sold homes near you, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes.
Vet cash buyers and know your home’s worth
When you decide to venture into the world of “We Buy Houses for Cash” companies in Baltimore, remember that the experience isn’t one-size-fits-all. Much of what you’ll encounter depends on the integrity and professionalism of the individual or group behind the offer.
Before you commit to that enticing cash offer, take the time to vet the company thoroughly. Dive into online reviews, read genuine testimonials, and investigate their market standing and track record. And above all, ensure you meticulously read through the buying agreement. Your home’s worth is invaluable, and every detail matters before putting pen to paper.
HomeLight suggests you consult with an experienced Baltimore real estate agent to get a better idea of what your home might be worth if sold on the open market. Then, compare your cash offer. HomeLight can connect you with a top-performing agent in your market. You can also use HomeLight’s Home Value Estimator to get an initial ballpark estimate in less than two minutes.
Other options to sell your home quickly
iBuyers
National iBuyers, like Opendoor and Offerpad, use automated valuation models for quick, mostly online home sales. These tech-driven companies typically give offers closer to market value for homes in good shape, wrapping up sales in a few days to two weeks. However, their service fees can range between 5% and 6%, making them best for sellers with well-maintained homes in uniform housing areas.
Listing with an Agent
Even when seeking a swift sale, don’t overlook the traditional route. A top Baltimore real estate agent, especially in a seller-friendly market, can ensure a rapid sale with strategic pricing and expert marketing.
On average, top agents fetch 10% more for homes than average agents. They offer a comparative market analysis (CMA) to ascertain a home’s worth, aiding in efficient pricing. A seasoned agent might even link you to buyers ready with a near-market value cash offer. Interested in this path? HomeLight can pair you with a leading agent in Baltimore.
FAQs on Baltimore house-buying companies
By and large, most We Buy Houses for Cash companies in Baltimore are legitimate businesses. Their services and transaction fees may differ, but the business model has been around for decades. If you use an established group with a track record, you can be fairly confident it’s legit.
That said, as with any financial transaction, it’s a good idea to be on the alert for scams. Always research companies before you sign a contract. Check customer reviews, look at their online presence, verify professional licenses, get a referral if possible, and vet the company on the Better Business Bureau website. Watch for anything that just doesn’t seem right.
Most Baltimore We Buy Houses for Cash companies apply the 70% rule, meaning they’ll offer you about 70% of your home’s after-repair value minus their estimated repair costs.
Here’s an example of what a simplified formula might look like:
(Your home’s ARV x .70) – repair costs
To see how this might work in a real-world scenario, let’s take a look at an example offer equation. Let’s say your Baltimore Federal Era rowhouse could sell for $230,000 after repairs, but it’s going to need $30,000 of work to get there.
($230,000 x .70) – $30,000 = $131,000
In this example, a Baltimore We Buy Houses company might offer you around $131,000 for your home.
However, different types of house-buying companies will offer varying amounts for homes. As mentioned previously, iBuyers tend to pay more than We Buy Houses companies because they look for homes in better condition. An iBuyer might pay you 90% or more of market value while charging a fee for their services.
When you accept an offer from a Baltimore We Buy Houses for Cash company, you will likely be coming to grips with a two-edged sword. On the one side, it shouldn’t cost you any additional money because these companies make an offer and handle almost everything once the offer is accepted. On the other side, you’ll likely get less money overall for your home.
Because We Buy Houses for Cash companies tend to focus on distressed homes, they typically have zero fees. Many will even cover your closing costs. In most cases, this means that the cash offer you receive is going to be the price you walk away with at the end of the deal. Of course, it’s always a good idea to flat-out ask the company if there are any hidden program fees that might impact your bottom line.
- Research and vet the house-buying companies that serve your area. Our list above is a good place to start.
- Submit offer requests to a few of the companies you like best.
- Schedule any required on-site property visits.
- Compare offers. Weigh the pros and cons and choose the best option for you.
- Close the sale in a week to 30 days and get paid. (Some companies will let you choose a closing date up to 90 days after accepting the offer, which can be helpful when planning a move.)
We Buy Houses for Cash in Baltimore vs. top Baltimore agent
Another helpful exercise is to compare how a We Buy Houses for Cash company might stack up against working with a real estate agent. Let’s take a glance at how different aspects of the sale might look and compare possible proceeds.
| Aspect of the sale | Sell to a We Buy Houses for Cash company in Baltimore | Sell with a top Realtor in Baltimore |
| Selling timeline | 7 to 30 days | 84 days average; 41 to attract an offer, 43 to close the loan |
| Home preparations | None | Deep clean, declutter, make necessary repairs, landscape, stage home |
| Showings | None | 10 to 25 showings average |
| Inspections / repairs | None | May need to make additional repairs for the buyer or renegotiate the price |
| Appraisal | None | May need to lower your asking price if the appraisal comes in low |
| Title search | Cash-for-homes companies often handle title issues | Must clear the title before you can sell the home |
| Financing contingency | None | Mortgaged buyers use a financing contingency that could hold up the deal if the buyer’s loan doesn’t clear |
| Agent commission | None | 3% to 5.8% average |
| Closing costs | None | 1% to 3% of the home sale price on top of agent commission |
Example net proceeds
Below, we’ve put together one example of how net proceeds may differ between selling a home to a We Buy Houses for Cash company and an agent-assisted sale.
Let’s say your home in Baltimore is currently worth about $230,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $255,000.
| Sell to a We Buy Houses for Cash company in Baltimore | Sell with a top Realtor in Baltimore | |
| Estimated sale price | ($255,000 x .70) – $25,000 = $153,500 | $230,000 |
| Market preparations | 0 | $2,300 (1% of sale price) |
| Agent commissions | 0 | $6,900 (3% of sale price) |
| Closing costs | 0 | $3,450 (1.5%) |
| Estimated take-home for seller | $153,500 | $217,350 |
As this example illustrates, financially, it’s usually in your best interest to partner with an experienced real estate agent.
However, net proceeds are not the only consideration when selling a home. What’s best for your situation will depend on the condition of your property, the level of repairs needed, and your selling objectives. Selling on the open market will be a challenge in your area, or the agent timeline might not fit your immediate needs.
Key takeaways
- House-buying companies in Baltimore offer a quick way to sell your home without the typical repair or preparation hassles.
- Typically, these companies will present offers below your home’s potential market value.
- It’s crucial to understand your home’s value, either through a comparative market analysis or thorough market research.
- iBuyers and traditional real estate agents provide alternate selling methods, each with their own pros and cons.
- Before accepting any offer, vet the company, read reviews, and ensure the agreement aligns with your expectations.
- Just as with traditional home selling, you can gather multiple cash offers to ensure you’re getting the best deal.
House-buying companies can be a good alternative for Baltimore home sellers in need of a fast home sale, but it’s important to consider both the benefits and drawbacks. When it comes to selling your home, it’s wise to avoid making any hasty decisions.
Before making a commitment to a Cash-For-Homes company, consider consulting with a top Baltimore agent for expert insights on how soon and for how much your property might sell on the market. Whatever you decide, HomeLight would be happy to help with your real estate needs.
Header Image Source: (Colin Lloyd / Unsplash)
At HomeLight, our vision is a world where every real estate transaction is simple, certain, and satisfying. Therefore, we promote strict editorial integrity in each of our posts.
