5 Top We Buy Houses for Cash Companies in Maryland
- Published on
- 14 min read
-
Alexandra Lee Junior Associate EditorClose
Alexandra Lee Junior Associate EditorAlexandra is a junior associate editor of HomeLight.com. Previously, she served as a writer and social media manager at Santa Barbara Life & Style Magazine, in addition to interning at the nonprofit honors society Phi Beta Kappa. Alexandra holds a bachelor's degree in communication and global studies from UC Santa Barbara, and she has three years of experience reporting on topics including international travel, luxury properties, celebrity interviews, fine dining, and more.
Facing the pressing need to sell your home quickly in Maryland? The allure of “We Buy Houses” companies lies in their promise to make speedy all-cash offers, especially for homes that need some work. These companies cater to sellers like you, who might be short on time, expertise, or resources for home repairs, and want to move swiftly toward the next chapter of life.
Selling your Maryland property to a cash-for-homes company can offer a lifeline during unexpected or urgent circumstances. By bypassing the conventional sales route, you can sidestep the hassles of home staging, viewings, and waiting on traditional buyers.
In this guide, we’ll look at the process of selling your home to a Maryland house-buying company and review the key pros and cons to help you make an informed decision.
Sell Your House Fast in Maryland With an All-Cash Offer
Get an all-cash, no-obligation offer on your Maryland home 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.
Disclaimer: This post is for educational purposes only and does not constitute legal or financial advice. Links and mentions of Maryland “We Buy Houses” companies should not be considered endorsements.
Working with house-buying companies in Maryland
Deciding to sell your home in Maryland? Working with a house-buying company can streamline the process, making it convenient and quick. Here’s a breakdown of the steps you’d take when selling to a cash-for-homes company in Maryland:
- Research companies: Start by researching and shortlisting reputable “We Buy Houses” companies operating in Maryland. Look for reviews, testimonials, and any red flags.
- Initiate contact: Reach out to your chosen company and provide essential details about your property and selling timeline.
- Get an assessment: The company will typically send a representative to inspect your property and assess its condition. This will determine the offer you receive.
- Review the offer: After the evaluation, you’ll be presented with an all-cash offer. Take your time to review the details and terms.
- Accept the offer: If you’re satisfied with the offer, you can accept it. It’s best to compare several offers before you commit.
- Close the deal: Once you agree on the terms, the company will handle the paperwork and close the sale. Depending on the business, this could be within days or weeks.
- Receive payment: After closing, you’ll receive your cash payment, allowing you to move forward with your plans.
Popular We Buy Houses for Cash companies in Maryland
If the process of selling to a house-buying company in Maryland sounds good to you, it’s time to find a legitimate operation you can trust.
We’ve compiled some of the top companies in the state that will pay cash for your parents’ Georgian Colonial or your Tudor-style home. By selling to one of these companies, you should be able to sell your Maryland home in as little as a week or two.
We Buy MD Homes
Founded by Brad Dwin, a local Maryland native with a deep passion for real estate and improving neighborhoods throughout the state, We Buy MD Homes is a reputable cash house-buying company. Having spent nearly a decade on the front lines following the 2007 housing crisis, Brad’s collaborative efforts with mortgage companies, non-profit groups, and government agencies helped many American families save their homes. This unique experience sets Brad apart as a legitimate house buyer in Maryland. What distinguishes the company further is the ability to purchase properties as-is, making offers within 24 hours, and even accommodating homes with existing tenants.
Locations: All 23 counties of Maryland plus Baltimore City
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 of We Buy MD Homes consistently report a positive experience, particularly highlighting the company’s professionalism, empathy, and efficiency. Many reviewers commend the ease and speed of the selling process, even when dealing with properties in need of significant repair. The company’s willingness to offer fair prices and accommodate various situations, such as dealing with troublesome tenants, is highly appreciated. They hold a 4.8-star rating on Google.
Website: webuymdhomes.com
Phone number: 410-807-8767
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Maryland (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 Maryland.
With Simple Sale, you can get a no-obligation, all-cash offer in 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 Maryland
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 4.8 stars on Google based on hundreds of 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
Sell My House Now MD
Sell My House Now MD, with its 25 years of combined experience, offers homeowners a unique and highly efficient solution to sell their homes quickly, no matter the condition. This reputable real estate investment company provides cash offers upfront and guides clients through every step of the selling process. Leveraging their deep understanding of the real estate market and offering alternatives to traditional home selling methods, Sell My House Now MD is the quick solution many Maryland homeowners seek. They distinguish themselves by providing cash offers even on properties in need of repair or with existing tenants, ensuring homeowners receive the best price quickly and smoothly.
Locations: Throughout Maryland
Closing costs: Sellers pay no closing costs
Sell My House Now MD has been BBB accredited since 2022 and holds an A+ rating. Reviews for Sell My House Now MD consistently emphasize the smooth and stress-free experience that the company provides. Clients appreciate the team’s high responsiveness, deep market understanding, and commitment to providing a fair offer. The company’s professionalism, characterized by a “white glove service” from start to finish, is particularly commended. Moreover, their ability to stick to promised schedules for closing deals is highlighted. They have a 4.9-star rating on Google.
Website: sellmyhousenowmd.com
Phone number: 410-441-3485
Revolutionary Home Buyers
Revolutionary Home Buyers is owned by Ben Caplan and Sam Gallahan, two local real estate investors in Maryland. They buy houses for cash in any situation or condition, and promise a simple 3-step process to get a no-obligation cash offer and close within 14 days. They underline their credibility by ensuring sellers receive the full cash offer, covering all associated fees themselves. Their comprehensive approach includes properties of all types and conditions, and they are able to move swiftly, with the capacity to arrange meetings anytime and anywhere to accommodate a seller’s needs.
Locations: All throughout Maryland
Closing costs: Sellers pay no closing costs and walk away with the full cash offer.
Customers of Revolutionary Home Buyers frequently highlight the team’s professionalism, responsiveness, and empathetic approach as key strengths. Their ability to efficiently manage transactions, even those involving multiple properties or existing tenants, is greatly appreciated. Clients also note the fair offers, absence of fees, and quick closing process. Moreover, the company’s willingness to accommodate special situations is highly valued. Overall, the reviews indicate a high level of satisfaction with the services provided by Revolutionary Home Buyers. They have a 4.9-star rating on Google.
Website: revolutionaryhomebuyers.com
Phone number: 443-251-3670
Yes I Pay Cash
Yes I Pay Cash, founded by Tariq Thomas in 2002, is an established real estate investment company dedicated to assisting homeowners with their property needs. Tariq’s experience with over 500 properties flipped bolsters the company’s credibility. This committed team takes pride in their transparent, respectful services, and commitment to creating mutually beneficial arrangements for sellers. They specialize in hassle-free, efficient transactions, making fair cash offers for homes in any condition. Notably, they offer direct contact for sellers through their website, ensuring a simple and stress-free home-selling experience.
Locations: Baltimore, Bel Air, Catonsville, Lutherville, Dundalk, Parkville, Perry Hall, Pikesville, Randallstown, Reisterstown, Towson, Owings Mills.
Closing costs: Sellers pay no closing costs.
Yes I Pay Cash has been BBB accredited since 2019 and holds an A+ rating. Yes I Pay Cash consistently receives positive reviews for their transparent, efficient, and reliable services, and customers appreciate their straightforward handling of transactions. They’ve been commended for offering genuine advice, even if it doesn’t immediately benefit their business, a testament to their integrity. Clients value their swift closing process and their responsiveness to concerns. The company stands out for its legitimacy, honesty, and for prioritizing the best interests of its clients, making it a popular choice for homeowners in Maryland. They have a 5.0 rating on Google.
Website: yesipaycash.com
Phone number: 443-200-4882
Why sell your Maryland house for cash?
There are plenty of valid reasons a Maryland home seller may choose to work with a Cash-For-Homes company. Leading the list are the benefits of speed, certainty, and remarkable convenience.
According to recent Maryland transaction data, it typically takes around 67 days to sell a home on the market using an agent. That includes an average of 24 days to get a contract, plus 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 Maryland, 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.
Here’s a look at some reasons why a Maryland homeowner might turn to “We Buy Houses for Cash” companies as an alternative to traditional sales routes:
- Lack of funds for repairs: Some Maryland homeowners might not have the necessary capital to make substantial repairs, making a cash sale more appealing.
- Quick relocation needs: Be it a sudden job transfer, an unexpected family emergency, or a golden opportunity elsewhere, the need to relocate quickly can be pressing.
- Financial hardships: For those facing mounting debts or struggling with monthly bills, a speedy cash sale can offer much-needed relief.
- Desire for privacy: Not everyone wants their neighbors or social circles to know about their move. A discreet sale ensures more privacy.
- Foreclosure looming: To sidestep the potential harm to credit scores, homeowners facing foreclosure might opt for a swift cash sale.
- Inherited properties: Handling an inherited property, especially if one lives out of state, can be cumbersome. Cash sales simplify the process.
- Landlord woes: Managing tenants, especially problematic ones, can be stressful. Cashing out provides a clean break.
- Downsizing for seniors: Elderly homeowners might want a simpler, smaller living space, or need to move into assisted living. Quick sales support these transitions.
- Out-of-state living: For homeowners living elsewhere, the convenience of a cash sale can be particularly appealing.
If any of these situations resonate with your current circumstances, it might be worthwhile to get a quote from a “We Buy Houses for Cash” company.
Nevertheless, while this could be a viable route for you, understanding your entire range of options is crucial. In the upcoming section, we’ll guide you through the pros and cons to help you make a more informed decision.
Pros and cons of house-buying companies in Maryland
Considering a cash-for-homes company in Maryland? Like any decision, there are benefits and drawbacks to weigh. Here’s an overview of the key pros and cons of going this route.
Pros
Speed and simplicity take center stage when you work with house-buying companies in Maryland. These firms offer a streamlined process, ensuring you can quickly move forward without making home repairs or other preparations.
Here are the main advantages:
- Quick sales: Selling to a house-buying company often means closing in days or weeks, not months.
- No repairs needed: Companies typically buy homes as-is, saving you time and money on renovations.
- No listing or agent fees: You bypass traditional selling expenses like listing fees, agent commissions, and closing costs.
- A more certain sale: No worrying about contingencies or buyer financing falling through.
- Flexibility in moving: Many companies offer flexible move-out dates, allowing you to plan your transition better.
Cons
While speed and convenience are tempting, it’s essential to recognize that there’s a trade-off in value. The most notable drawback? You’ll likely get an offer below your home’s potential market value, especially compared to selling with a seasoned real estate agent.
Here are some potential pitfalls:
- Lower offers: Cash-buying companies aim for profit and may offer significantly less than your home’s true market value.
- Less competition: Selling traditionally can result in bidding wars, potentially raising your home’s selling price.
- Lack of personal touch: The process can feel more transactional and less personalized than working with an agent.
- Pressure tactics: House-buying companies know that homeowners seeking a fast sale are often facing a desperate situation. While many offer real solutions, some businesses take advantage of this urgency by applying pressure tactics.
- Potential for scams: While many companies are reputable, there are bad actors. It’s crucial to vet your buyer.
With these insights, you’re closer to making an informed decision. However, two more important steps are to know who you are 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
Navigating the world of house-buying companies in Maryland, you’ll find that not all cash buyers are created equal. Your experience hinges largely on the character and credibility of the individual or group presenting the offer. To ensure you’re aligning with a reputable partner, it’s paramount to do your homework.
Before taking the plunge with a cash offer, thoroughly vet the company. Dive into online reviews, pore over testimonials, and investigate their standing and track record in the Maryland market. Equally crucial is to scrutinize the buying agreement. Ensure you understand every clause and term before affixing your signature, protecting both your property and your peace of mind.
HomeLight suggests you consult with an experienced local 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 Maryland 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
iBuyers, short for instant buyers, use automated valuation models (AVMs) to swiftly offer home value estimates, providing a streamlined, mostly digital selling experience.
Originating in the mid-2010s, iBuyers like Opendoor and Offerpad make all-cash offers, often closer to market value for well-maintained homes, with closing timelines as brief as a few days to two weeks. While convenient, they typically charge service fees of 5%-6% and best suit homes in standardized housing markets in good shape.
Listing with an agent
You might wonder why we’re mentioning agents in a cash-for-homes article. But even in a rush, considering all avenues is wise. In an active seller’s market, a top agent can achieve a speedy sale if the property is priced right and effectively marketed. Statistics show that elite agents can secure up to 10% more than average agents.
Moreover, agents offer a comparative market analysis (CMA), a detailed report assessing your home’s worth. This analysis can guide your pricing, hinting at potential sale speed. Plus, some agents might have cash-ready buyers at their fingertips. Getting a CMA, often provided for free, helps you gauge your choices and feel more confident about your final decision whether to use an agent or a house-buying company.
Want to explore this option? HomeLight can introduce you to top agents in your Maryland market.
FAQs on Maryland house-buying companies
By and large, most We Buy Houses for Cash companies in Maryland 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 that 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.
As described in our pros and cons list above, most We Buy Houses for Cash companies in Maryland 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 Maryland Georgian Colonial house could sell for $485,000 after repairs, but it’s going to need $30,000 of work to get there.
($485,000 x .70) – $30,000 = $309,500
In this example, a Maryland We Buy Houses company might offer you around $309,500 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 iBuyers look for homes in better condition. An iBuyer might pay you 85%-95% of market value while charging a fee for their services.
When you accept an offer from a Maryland 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 Maryland vs. top Maryland 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 Maryland | Sell with a top Realtor in Maryland |
| Selling timeline | 7 to 30 days | 67 days average; 24 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 title before you can sell 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%-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 Maryland is currently worth about $455,000 and needs about $30,000 in repairs. Once the repairs are completed, the home might be worth around $485,000.
| Sell to a We Buy Houses for Cash company in Maryland | Sell with a top Realtor in Maryland | |
| Estimated sale price | ($485,000 x .70) – $30,000 = $309,500 | $455,000 |
| Market preparations | 0 | $4,550 (1% of sale price) |
| Agent commissions | 0 | $13,650 (3%* of sale price) |
| Closing costs | 0 | $6,825 (1.5%) |
| Estimated take-home for seller | $309,500 | $429,975 |
As this example illustrates, financially, it’s usually in your best interest to partner with an experienced real estate agent.
Agent commission changes
*On March 15, 2024, the National Association of Realtors (NAR) announced a landmark lawsuit settlement that will change the way real estate agent commissions are handled in the future. These changes will “decouple” seller and buyer agent compensation. Industry experts predict that this decoupling will likely lower agent fees and give buyers the ability to negotiate commission amounts directly. Learn more.
However, net proceeds are not the only consideration when selling a home. What’s best in your situation will depend on the condition of your property, what level of repairs are needed, and your selling objectives. It could be that selling on the open market will be a challenge in your area, or the agent timeline might not fit your immediate needs.
Key takeaways
- Speed and convenience: House-buying companies can provide fast cash offers, bypassing the conventional home sale route, which may involve lengthy marketing, showings, and negotiations.
- Property condition: While traditional sales might necessitate repairs and upgrades, cash-for-homes companies usually purchase properties “as-is,” alleviating any repair-related stress for sellers.
- Less than market value: Typically, house-buying companies offer less than the market value for your home. Partnering with a top Maryland real estate agent could potentially fetch a higher price, but also requires more effort and time on the seller’s part. The benefits of a fast sale may outweigh the reduced proceeds.
- Research is paramount: Whether considering an iBuyer, a traditional agent, or a cash-for-homes company, thorough research and due diligence are essential. Vet companies, read testimonials, and ensure you’re comfortable with all terms before committing.
- Understand your priorities: Your unique circumstances and priorities — whether speed, convenience, maximum profit, or a combination — will dictate the best route for you.
House-buying companies can be a good alternative for Maryland sellers in need of a quick 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, gather multiple offers and take the time to weigh your options. Consider consulting with a top Maryland 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: (Susan (Lewis) Penix / Unsplash)
Find top real estate agents near me
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.
