Do you need to sell your home quickly in Towson? “We Buy Houses” companies in Towson are a great alternative to the traditional market. They make all-cash offers for homes, regardless of the property’s condition, and can help you sell your home in a matter of days.
This post will explain the pros and cons of selling your Towson home to a cash-for-homes company. We will provide you with a list of companies to consider and explain how the process works.
Working with house-buying companies in Towson
Selling your home to a house-buying company in Towson is a simple and fast process.
You’ll start by contacting a We Buy Houses company in Towson and providing basic details about your home. Based on this information, the company will assess your property and present a cash offer, usually within a few days.
If you decide to accept, you’ll sign the buying agreement and proceed with closing. The company will handle the paperwork, and the sale typically wraps up within a week or two—getting you your cash quickly.
Pros and cons of selling to a house-buying company
Pros:
- Fast, hassle-free sale: These companies buy homes quickly, often closing within a week or two—much faster than the average 60-90 days it might take on the open market.
- Sell as-is: There is no need to make repairs, clean, or even move everything out—many companies handle it all.
Cons:
- Below-market offers: Expect to receive less than your home’s full value. Most We Buy Houses companies use the 70% rule to determine their offering, meaning they will offer you about 70% of your home’s after-repair value minus their estimated repair costs.
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- Example: If your Towson home is worth $430,000 and needs $30,000 in repairs, an offer might look like this:
- ($430,000 × 0.70) – $30,000 = $271,000
- Example: If your Towson home is worth $430,000 and needs $30,000 in repairs, an offer might look like this:
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- High-pressure tactics: We Buy Houses can sometimes pressure homeowners in desperate situations to take an offer they might not be comfortable with. Be prepared to walk away and say “no” if a potential buyer makes you uneasy.
It’s also worth noting that a top Towson real estate agent might be able to get you more value for your home than a cash offer.
For example, after factoring in potential closing costs, agent commissions, and market preparations, an agent might help you walk away with $406,350 for the same home as listed above.
Your situation matters
The best option for you depends on your home’s condition, repair needs, and selling goals. Cash buyers can be a good fit if time is a priority, but selling with a real estate agent may yield a higher price.
Proper vetting of any company you might enter into a major transaction with, like selling your home, is important.
HomeLight suggests you consult with an experienced local agent to understand better 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 make an initial ballpark estimate in less than two minutes.
