Press Release
Orchard Enters the DMV
Enables homeowners in the Maryland and Virginia suburbs to buy their new home with cash while getting top dollar for their current home
NEW YORK, Apr 15: Starting today homeowners in the DMV can use Orchard, the home buying marketplace that makes purchasing a home stress-free, fair and simple, to buy their new home before having to sell their old one. Orchard customers can make a cash offer to win the home they want, while skipping the hassle of showing their old home — all for the same cost as using a traditional broker.
Area home buyers face an ultra-competitive environment — nearly 85% of homes on market are selling within 30 days of listing according to MLS data. In March of 2021, area homes were on the market for an average of just 13 days, which is five days less than the average from the same time last year.
“The DMV is an incredibly competitive market, making it harder than ever for homeowners to purchase their next home. We’re thrilled to offer residents a new way to navigate the home buying landscape, making it possible for residents to buy their dream homes with cash, while getting top dollar for their current homes,” said Court Cunningham, CEO and Co-Founder of Orchard.
Customers using Orchard will also have access to its recently launched concierge offering, which removes the stress of getting a home ready for listing by managing the work from start to finish, with no upfront costs for the customer. Homes that have used Orchard’s concierge service have sold three times faster than the market average. Customers who use the service can move out of their old home and into their new one before any work begins. This eliminates any stress, mess, and unnecessary contact with strangers — a valuable benefit during COVID-19.
In Virginia, Orchard will initially serve home buyers and sellers in Loudoun, Clarke, Warren, Fauquier, Stafford, Spotsylvania, Prince William, Fairfax and Arlington counties. In Maryland, Orchard will initially serve customers in Montgomery County.
The DMV is Orchard’s 10th market in the U.S. Orchard also serves customers in Austin, Dallas-Fort Worth, Houston, San Antonio, Denver, Colorado Springs, Atlanta, Charlotte, and Raleigh-Durham.
To learn more about Orchard, please visit www.orchard.com.
About Orchard
Orchard is radically simplifying the home buying and selling experience from search to close. Traditionally, homeowners looking to purchase their next home face a stressful and uncertain process—they have to either sell their old home first and move twice or buy as a contingent buyer and risk not getting their dream home. Orchard pioneered the “buy before you sell” model in real estate with its Move First offering: after enabling the customer to move into their new home, Orchard sells their old home for top dollar. The company’s Offer Boost option is particularly attractive to customers in competitive markets by giving them the option of using Orchard’s cash to secure their dream home. Cash offers are more likely to be accepted by sellers—a huge benefit in the current highly competitive market environment. Orchard’s products and services have transformed the home buying and selling experience with AI-powered home search and a vertically-integrated platform with Orchard Home Loans, Orchard Title, and Orchard Insurance, offering an all-digital closing for customers. Orchard is headquartered in New York City and offers its services in Colorado, Georgia, Texas, North Carolina, Virginia, and Maryland.