How To Find Credible Cash Home Buyers in Baltimore
If you’re a homeowner looking for a low-stress way to sell you house, connecting with cash home buyers in Baltimore could simplify the process. Charm City’s affordable home prices and economic growth have made it a prime location for both local and out-of-state investors, many of whom are equipped to purchase properties outright. In February 2024, just over 43% of Baltimore home purchases were made in cash, one of the highest shares of all-cash purchases in the country.
This could be the ideal time to consider a cash buyer, especially if speed and convenience are your top priorities. In this guide, we’ll explain how to find and sell to Baltimore cash home buyers, and outline the steps for a smooth and straightforward transaction.
Disclaimer: As a friendly reminder, this blog post is meant to be used for educational purposes, not legal or tax advice. HomeLight always encourages you to reach out to your own advisor.
How to find cash home buyers in Baltimore
If you’re looking to sell your home quickly and with minimal fuss, cash home buyers might be the perfect solution. These buyers can offer a fast closing and eliminate the uncertainties of a traditional home sale. Here are a few ways to find reputable cash home buyers in Baltimore who can give you a fair offer for your property:
Work with a reputable local real estate agent
Even if you’re leaning toward a cash home sale, working with a local real estate agent can be incredibly beneficial. Agents often have established connections with cash buyers who are actively seeking properties in your area. By leveraging these relationships, an agent can help you find a buyer quickly and avoid the hassle of researching and vetting numerous cash buyers yourself.
Additionally, agent-recommended cash buyers are typically more reliable, reducing the risk of encountering scams. If you don’t already have an agent in mind, HomeLight can connect you with top agents in Baltimore who specialize in cash sales. Remember, working with an agent might involve real estate commissions, but the convenience and security can be well worth it.
Focus on investors rather than owner-occupiers
Baltimore has a significant share of institutional buyers, including companies, corporations, and limited liability companies that purchase houses for cash. These investors are often looking for properties they can flip or rent out, making them ideal candidates for a quick cash sale.
To attract these buyers, consider listing your property on investment websites or attending local real estate investing events. You can also request no-obligation cash offers from “We Buy Houses” companies in Baltimore. Keep in mind that many house flippers follow the 70% rule, meaning they typically offer around 70% of the home’s after-repair value minus repair costs.
Do your due diligence
It’s important to research and vet cash-for-homes companies to ensure their legitimacy. The Better Business Bureau (BBB) is a valuable resource for verifying the reputation of companies you are considering working with. You can also reach out to the local chapter, BBB of Greater Maryland.
Additionally, reading online reviews from platforms like Google, Yelp, Facebook, and Trustpilot can provide insights into other homeowners’ experiences. Always check the company’s track record, licenses, and ask for customer referrals to confirm their credibility.
Before signing an offer, ask for proof of funds
Making sure that the cash buyer has readily available funds is essential. Before moving forward with any offer, ask the buyer for proof of funds. This document shows that the buyer has the financial capacity to purchase your home outright. If a buyer is unwilling to provide proof of funds, consider it a red flag and explore other options.
