Have you looked at your property value in Maryland recently and decided it might be time to cash in? Home prices have been rising here, up nearly 7 percent since last year according to February Redfin data. But hopefully you’re not in any rush: Listed homes have been sitting on the market for more than a month before selling.

Often, life circumstances — like a marriage, divorce or job relocation — mean you can’t wait that long. If you’re looking to sell your Maryland house as fast as possible, here’s everything you need to know.

How fast can you sell your home in Maryland?

The amount of time it takes to sell a Maryland home depends on a variety of factors, including location, property condition and price point. The median number of days homes in the state stayed on the market in February, according to Redfin, was 34. That’s 34 days until the home goes into contract, not including the amount of time you’ll wait after that until you can finally close.

The likelihood of a quicker sale increases during certain times of the year. Homes typically sell faster in spring and early summer: For example, in May 2023 the median days spent on the market for a Maryland home was just 19, and in June it was 20.

Need to sell faster?

If you need to relocate in a rush or want the proceeds from the sale ASAP, there are ways to accelerate the process and sell faster.

  • Sell to a homebuying company: Working with a homebuying company in Maryland is probably the fastest route to a sale. These companies make quick cash offers and can often close the entire deal within just a couple of weeks. (iBuyers work in a similarly speedy manner, but the two biggest, Opendoor and Offerpad, do not buy homes in Maryland.) However, these firms typically do not pay top dollar for homes, so if maximizing your profit is more important to you than speed, they’re probably not a great option.
  • Sell as-is: Selling your home in as-is condition means you don’t have to spend time negotiating over small details or repairs.
  • Work with a real estate agent: Working with a real estate agent won’t move as quickly as selling directly to a company. But if you are frank about your need for speed, an agent can market your listing accordingly and set you up for a faster-than-usual sale.
  • Be flexible: If you want to sell your home quickly, you may have to sacrifice some of your expectations for the selling process. This may mean pricing the property to move or offering seller concessions to sweeten the deal for buyers.

Selling your home fast for fair market value

If you are set on selling your home for fair market value, you’ll want to go through the traditional listing process. For this, hiring a knowledgeable local real estate agent is essential — someone who knows the market in your specific area in Maryland well will have the best chance of bringing in the highest price for your home. Before you put your home on the market, ask yourself — and your agent — these questions.

What should my asking price be?

Price is the most important part of any listing, and your agent will research local comps to help you come up with an appropriate price for your home. Keep in mind that the Maryland housing market can look quite different depending on whether you are at the beach, just outside Washington, D.C., in Baltimore or somewhere in-between. For example, while the median sale price in the state overall was $401,700 in February, per Redfin data, in Baltimore it was just $199,900, and in Bethesda it was more than $1.2 million.

Is it worth upgrading my home before selling?

Most big home-improvement projects don’t make back their cost when you sell, so it’s probably not worth making major renovations. And waiting on contractors certainly won’t help your home sell any faster. Rather than spending a lot of cash and time on a big project, consider smaller, more economical ways to boost the value of your property.

What should I fix before selling?

First impressions are crucial in real estate. If you were a potential buyer looking at your house, is there anything that would turn you off? Address visible problems like leaky faucets, chipped paint and fraying carpet, for example — but you don’t have to fix everything. Let your agent guide you.

Should I pay to have my home staged?

Staging your home can help your property stand out to buyers. The cost varies depending on whether you need minor decluttering or major assistance, like furniture rentals. The investment can pay off, though: In a 2023 survey by the National Association of Realtors, 20 percent of buyers’ agents said that home staging increased their clients’ offer prices by 1 to 5 percent.

What must I disclose to the buyer?

The state of Maryland requires that home sellers disclose certain property conditions and any known defects to the buyer. They do this by filling out a Residential Property Disclosure and Disclaimer. In addition, if the property is part of a homeowners association, you’ll have to provide info about the HOA, its financial status and its rules and bylaws.

Closing day

The final step in the sale of your Maryland property is the closing. This comes with certain closing costs. As a seller, the bulk of your costs will likely be in the form of Realtor commissions, which typically total somewhere between 5 and 6 percent of the home’s sale price. On a median-priced $401,700 home, 5.5 percent would come to just over $22,000.

Other closing costs you might be responsible for paying include:

  • Transfer taxes
  • Title insurance
  • Escrow fees
  • Attorney fees
  • Seller concessions
  • Capital gains tax (depending on how much profit you make on the sale)
  • Non-resident seller fee (for example, if your primary residence is out-of-state but you are selling your Ocean City beach house)

Next steps

If speed is more important to you than anything else, look into cash-homebuying companies in your area to see how much they can offer you, and how fast they can move. If you’re not in a hurry and want to bring in the highest price possible, your best bet is working with a local agent who knows your Maryland town inside-out. Interview several candidates to find someone you feel comfortable working with.

FAQs

  • The fastest way will be selling to a cash-homebuying company. These companies buy direct from you and pay in cash, which means you don’t have to go through a Realtor and they don’t have to wait on financing. They also usually buy homes in as-is condition, meaning you don’t have to make any repairs or do any other work first. As a result, they move remarkably fast — some can close a sale within 7 to 14 days, which is much faster than the traditional listing process.

  • Yes, an experienced Maryland agent can advise you on how to sell your house fast — but even if you go into contract very quickly, you’ll still have to wait on your buyer’s financing to be approved before you can close. A traditional market listing with an agent won’t be as fast as selling to a cash-homebuyer, but it is the best way to bring in the highest price for your home.

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