Did you know that Maryland is one of the most popular states to move from in the US?
According to a recent study by United Van Lines, Maryland ranked as the 10th most moved-from state in 2020. That means a lot of people are relocating from Maryland and selling their houses in the process.
Even if you aren’t moving out of state and are simply relocating to another town or neighborhood in Maryland, moving and selling a house can be a challenge.
But don’t worry, we’re here to help you!
In this article, we’ll guide you through everything you need to know about moving and selling a house in Maryland. We’ll show you how to:
- Prepare your house for sale in Maryland
- Choose the best property selling method in MD
- Handle the timing of moving and selling your MD house
- Explore alternatives to selling when you need to move fast
We’ll also answer some common questions that homeowners may have about moving out of a house they own in Maryland.
We are Creo Home Buyers, a local and family-owned house buying company in Maryland. We have been buying and selling houses in Maryland since 2018. We have helped homeowners who are looking to move sell their houses fast and hassle-free. If you want to skip traditional house listing headaches and sell your house fast and hassle-free in Maryland, request a free, no-obligation offer from Creo Home Buyers today.
Disclaimer: This blog post is intended for educational purposes only. As every real estate transaction is unique, Creo Home Buyers recommends you consult with a trusted advisor regarding your specific situation.
Now onto the move out of your house!
Prepare Your House for Sale Before You Move
If you’re planning to sell your house in Maryland, you need to make sure it’s ready for the market. Preparing your house for sale can make a big difference in how quickly and how much you sell it for.
Buyers are looking for houses that are clean, well-maintained, and appealing. They want to imagine themselves living in your house, not fixing it up or dealing with your clutter.
So how do you prepare your house for sale in Maryland? Here are some top ideas to help you out:
- Declutter and Depersonalize: Get rid of unwanted items and pack away personal belongings to create a neutral and spacious environment for buyers.
- Clean and Sanitize: Make your house sparkle and use natural or mild cleaners to avoid strong odors. Consider hiring a professional cleaning service for a deep clean.
- Repair and Update: Fix any issues that could turn off buyers or lower your home value. Make minor updates to improve the appearance and functionality of your house.
- Stage and Photograph: Arrange furniture and add accessories to make your house look inviting. Take high-quality photos that showcase its best features.
- Sell directly to Creo Home Buyers: If you need help preparing your house for sale in Maryland, Creo Home Buyers can assist you with moving expenses, repairs, and more when we buy your house.
In conclusion, following these steps can help you prepare your house for sale in Maryland. If you need additional selling or moving resources, reach out to Creo Home Buyers today!
How to Handle Moving and Selling Your Home
Moving and selling your house at the same time can be stressful and complicated. You have to deal with finding a new place, coordinating the closing dates, paying two mortgages or rent, storing your belongings, and more.
How do you handle the timing of moving and selling your MD house without losing your mind? Here are some tips to help you out:
Start preparing for your move as soon as possible. Research the market conditions, the prices of houses in your area, and the demand for buyers. Decide when you want to move and when you want to sell your house. Set a realistic timeline and budget for both processes.
Contingencies are clauses in the contract that allow either party to back out or change the terms under certain circumstances. For example, you can negotiate a home sale contingency that lets you cancel the deal if you don’t sell your current house by a certain date. Or you can negotiate a rent-back contingency that lets you stay in your current house for a period of time after closing while you find a new place.
Use bridge loans or other financing options
A bridge loan is a short-term loan that helps you cover the gap between buying a new house and selling your old one. It lets you use the equity in your current house as collateral for the new one. However, bridge loans can be risky and expensive, so make sure you understand the terms and conditions before applying for one. You can also explore other financing options such as home equity loans or lines of credit.
Hire movers or storage services
If you need to move out of your current house before selling it or before finding a new place, you may need to hire movers or storage services to help you with your belongings. Movers can pack, transport, and unpack your items for you at your new location or at a storage facility. Storage services can keep your items safe and secure until you’re ready to move them again.
Should You Hire a Moving Company or Relocate Yourself?
Moving can be a challenge. Should you do it yourself or hire some help? Consider the following when deciding whether to call a mover in Maryland:
- How much are you moving? Movers are experts in packing and transporting your belongings efficiently.
- How far are you going? The further you go, the more logistics become involved. Consider whether you want to save money or time during your move.
- Are you comfortable behind the wheel? Make sure you’re comfortable driving a large moving truck. If not, it may be best to hire professional movers to transport your stuff.
- How much is your time worth? Moving across the country can take several days. Professional movers can save you time.
- Will you have any help? If you’re moving to a new city, you might not have a support base of people willing to help you out.
Consider these factors when deciding whether to call a mover in Maryland. Keep important items with you and consider leaving behind furniture that’s more expensive to ship than it’s worth.
Ways to Sell Your Current Home When You Need to Relocate
When it comes to selling your property in MD, you have several options:
- Listing with an agent
- Selling by owner
- Selling to an investor
- Selling at auction
Each option has its pros and cons, and the best one depends on your situation, goals, and preferences. Here’s a quick comparison of each option:
|Listing with an agent||– Professional guidance and marketing – Access to multiple listing service (MLS) – Exposure to more buyers||– Commission fees (typically 6% of sale price) – Closing costs (typically 2% of sale price) – Repairs and cleaning – Showings and inspections – Negotiations and contingencies – Long waiting time (average 3 months)|
|Selling by owner||– No commission fees |
– More control over price and terms
– More involvement in process
|– No professional guidance or marketing – No access to MLS – Less exposure to buyers – More responsibility and liability – More paperwork and legal issues – More stress and hassle|
|Selling to an investor||– Fast closing (as little as 7 days) |
– No commission fees or closing costs
– No repairs or cleaning
– No showings or inspections – Cash offer – Flexible terms
|– Lower offer than market value – Less exposure to buyers – Less involvement in process|
|Selling at auction||– Fast closing (as little as 30 days) – Competitive bidding – No repairs or cleaning||– Auction fees (typically 10% of sale price) – No control over price or terms – No guarantee of sale – Risk of low bids|
As you can see, selling to an investor like Creo Home Buyers has many benefits over other methods, especially if you need to sell fast, avoid repairs, or get cash. We buy houses in any condition, any situation, and any location in Maryland. We pay cash, we close fast, and we handle just about everything for you.
How to Move if Your House in Maryland Hasn’t Sold Yet
So you’ve found your dream home. There’s just one problem: You haven’t been able to sell your house yet.
Moving in Maryland can be tough when you are trying to relocate and sell your house while trying to buy your next one. The FHA, Fanny Mae, and Freddie Mac all have rules about getting a second mortgage while you still own your home. If you want to secure an additional mortgage, you will have to clear a few hurdles.
Qualifying for a Second Mortgage through the FHA
First off, to qualify for a second mortgage through the FHA, you must meet certain qualifications. You need to have a good reason for needing to move right away, and not after your current house has sold. For example, moving because your family needs a larger space, you are separating from your spouse or for work purposes. Also, you cannot owe more than 75% of the value of the first home. There are additional restrictions as well, do your homework before assuming you will qualify for an additional loan through the FHA.
Asking Family for Help
Asking family can be another route, so long as you put everything in writing. Agree to pay them back in full upon the sale of your first house. Whenever you borrow money from family, you want clear terms to be set and adhered to. If you think a family relationship could be damaged because of money, you might want to look for a different way to secure the financing you need.
A bridge loan or as it’s sometimes called, a “wrap” loan can help “bridge the gap while you attempt to cover two house payments. These types of loans will take both mortgage payments and combine them into one interest-only payment. These are typically short-term loans, lasting 6 months to one year. Lenders have different requirements but you must typically have great credit and be financing less than 80% of the value of both houses.
Borrowing from Your 401k
While it may not be your first choice, you can talk to your boss or plan administrator about borrowing from your 401k. Make sure you understand how the tax penalties will work and pay yourself back after the sale of the original home. This may not be an option for everyone but definitely something to look into.
Try to see if the buyer is open to letting you rent it back from them for a few months while you find a place to move. Depending on their situation, they might love the idea of getting extra money from you every month while they wait to move into their new home. If you need a place to stay while looking for your next home, this can be a great option. Just keep in mind most traditional homebuyers will need to move in right away so this may not be a viable option for most home sellers in Maryland.
Adding a Contingency in Your Offer When Buying
When buying another house, you may consider adding a contingency to your offer allowing you to close on the new home only after your first home in Maryland has sold. If your home is new to the market and priced well, it should sell right away. Present this to the owners of the second home along with your offer. Ensure them that the closing won’t be delayed and that you agree to close in a certain amount of time.
Alternatives to Selling When You Need to Move Fast
Sometimes selling your house is not the best option when you need to move fast. Maybe you have sentimental value attached to your house, maybe you have plans to return in the future, maybe the market conditions are not favorable for selling right now, or maybe you just don’t want to deal with the hassle of selling.
Whatever the reason may be, there are alternatives to selling that will cover the mortgage or provide cash flow while you’re away from your house:
- Renting out your house: Renting out your house can be a great way to generate income and keep your property occupied while you’re gone. You can rent out your entire house or just a part of it depending on your needs and preferences. You can also choose between long-term or short-term rentals depending on the demand and availability in your area.
- Leasing with option to buy: Leasing with option to buy is a type of contract that gives the tenant the right but not the obligation to buy your house at a predetermined price within a specified period of time. This way, you can secure a potential buyer while collecting rent until they decide whether or not to buy.
- Offer owner financing: Owner financing is when you act as the lender and provide financing to the buyer instead of using a bank or mortgage company. This way, you can sell your house faster and easier without paying commissions or fees while receiving monthly payments with interest until the loan is paid off.
At Creo Home Buyers, we have helped many homeowners find creative solutions for their houses in Maryland without selling them outright. If you want to explore alternatives to selling when you need to move fast in Maryland, request an offer from Creo Home Buyers today.
5 Tips For Moving With Kids in Maryland
Moving with kids will make any move even more of a challenge, but it doesn’t have to be stressful. With these tips, you can make your relocation within or from Maryland a breeze for the whole family:
- Talk to them: Share the news with your kids as soon as the move is definite and openly discuss the new and exciting changes.
- Get to know your new house: If the house is nearby, get your kids excited by going to see it and let them plan out how they want to decorate their rooms.
- Let them help with packing: Make sure younger kids know that their stuff is being packed up and moved. Let them help pack up their toys and decorate their boxes.
- Get to know the neighbors and the new area: Become a part of your new community as soon as possible. Introduce yourself to the neighbors and participate in local activities.
- Keep your routines: Remain consistent with meal times and bedtimes to help keep kids calm and maintain a sense of order.
Following these tips can help make moving with kids in Maryland less stressful for everyone. By involving them in the process and maintaining routines, you can make the transition of selling your home and buying another smoother for everyone.
6 Tips for Moving Long Distance in Maryland
Moving long distance can be tough, but with these 6 tips for moving long distance in Maryland, you can make the process as easy and manageable as possible.
- Pack like a pro: Utilize clever tricks to pack your possessions efficiently, such as wrapping up clothes in dresser drawers and packing items within each other.
- Downsize: Purge your belongings for a fresh start and only bring what you absolutely love or need.
- Take heed when hiring movers: Keep sentimental items and valuables with you if possible and have items insured in case they become lost or damaged.
- If possible, drive your car: Shipping a car can be expensive and have ambiguous dates of arrival. Make it an adventure and see the county or state.
- Be prepared to buy some new things: Plan ahead and stash a little cash away for purchases such as a new dish drainer or silverware organizer Get excited about upgrading your home essentials!
- Be patient and give it a week or two: It takes time to emotionally settle into a new town. Get to know the area and do some exploring.
By following these tips, you can make your long distance move to Maryland as smooth and stress-free as possible. 😊
How to Move Out in Maryland and Sell Your House Without Fuss
Moving out of your house and selling it fast in Maryland can be a daunting task. You have to juggle multiple things at once: finding a new place, preparing your house for sale, choosing the best selling method, handling the timing and logistics of moving and selling, and exploring alternatives to selling.
But it doesn’t have to be that hard. In this article, we showed you how to:
- Prepare your house for sale in Maryland by decluttering, cleaning, repairing, staging, and photographing it
- Choose the best property selling method in MD by comparing the pros and cons of listing with an agent, selling by owner, selling to an investor, or selling at auction
- Handle the timing of moving and selling your MD house by planning ahead, negotiating contingencies, using bridge loans or other financing options, hiring movers or storage services
- Explore alternatives to selling when you need to move fast by renting out, leasing with option to buy, owner financing
We also included some answers to our most frequently asked questions homeowners often have about moving out of a house they own in Maryland.
But if you want to make your life easier, there’s one option that stands out from the rest: Selling your house to Creo Home Buyers.
We are a trusted and experienced Maryland house buyer that can buy your house fast and hassle-free in any condition, any situation, and any location in Maryland. You don’t have to pay any commissions, fees, or hidden costs. You won’t have to fix anything, clean anything, or show your house numerous times. You don’t have to deal with any inspections, appraisals, or lengthy contingencies. You only have to fill out a simple form, get a fair offer from us within 24 hours, and accept it if you like it.
Common Relocation Questions for Sellers
Moving out of a house you own in Maryland can raise a lot of questions. Here are some common ones and their answers:
Should I cancel my utilities and home services before or after I move out?
Cancel your utilities and home services after you move out and sell your house. Contact your providers to transfer or cancel your accounts.
How do I forward my mail and update my address when I move to a new address?
Forward your mail and update your address as soon as possible after you move. You can do this online or in person at the post office.
Should I hire a moving company or make the move myself?
This depends on your budget, time, and preferences. Weigh the pros and cons of each option and compare quotes before booking.
How do I secure and protect my house if I need to move out before it sells?
Take steps to secure and protect your house from vandalism, theft, or damage. Lock doors and windows, install security cameras or alarms, and ask someone to check on it regularly.
What do I do with all my unwanted belongings before I move?
You can donate, sell, give away, or throw away unwanted belongings. Sort through them early to declutter your house and make your move easier.
Can I move to a new place while waiting for my house to sell?
Yes, but it may not be the best option for everyone, especially if you’ll be faced with two housing payments. Consider the challenges and risks as well as the benefits before deciding whether to move before selling.
We hope this FAQ section answered some of your questions about moving out of a house you own in Maryland.
If you have any other questions or need any help with selling your house fast and hassle-free in Maryland, request an offer from Creo Home Buyers today.