Owning a home in Ontario means that you own something that is highly valuable and sought-after. Whether in a small idyllic community like Thunder Bay, or the bustling core of Toronto, your home or condo is a prized possession. Not only is it the palace where you have made long-lasting memories, but it is also a financial asset that has been growing in value, especially over the course of the last few years.
With an abundance of natural resources, some of Canada’s most populated urban centers and the financial and tech hub of the country in Toronto, Ontario boasts one of the hottest real estate markets in North America. This is why nearly half of all international immigrants coming to Canada choose to settle in Ontario. The province’s prestigious educational institutions have attracted over 300,000 international students to study in Ontario.
There’s a lot to love about the province and that is why housing demand has continued to skyrocket.
So why would someone want to sell their Ontario home?
Real estate in Ontario is a hot commodity. The average home in Ontario has grown in value by over 25 percent since the start of 2021. Those looking to sell their home can cash in on this development and get a sizable return for their property.
There are a multitude of reasons that could lead someone to need to sell their home. Some are for personal reasons like a divorce. Some are for comfort as many millennials and others who now work from home have decided to move out from the cities to homes that can provide more space and privacy.
Some homeowners might already own or have bought another home and don’t want to waste money maintaining two properties. They could be looking to downsize and save the extra money from their sale or even inherited a property that they don’t need or want.
There are also older homeowners who haven’t managed to save enough money to retire comfortably. Selling their homes in the current market conditions will provide a substantial source of funds that could sustain them for the rest of their lives.
Perhaps the most important reason could be the rising cost of living in Ontario. Many necessities are getting more expensive just when many Ontarians are financially stretched thin. For homeowners experiencing financial difficulties like out-of-control debt, expensive loans, loss of income, or expensive damages that make their home unlivable, selling their home fast gives them the best chance to get back on their feet.
A company representative will come to inspect your house to determine the condition of the house. The property value will be based on comparable properties in the area. We will present you with a fair cash offer within 24 hours of inspecting the house. Owners can ask for special conditions, such as a longer closing or that their belong be stored in the property for a period of time.
Some homeowners want to remain in their home but but can no longer afford to pay the monthly bills. The sell and rent back option is available to homeowners with a significant amount of equity in their home. The monthly rent will be based on the selling price, equity and the sellers income. To discuss the sell and rent option simply call us and we can explain how to proceed.
Selling a home quickly is easier said than done. You can’t rely on the strong housing market to give you the perfect offer within a few days, some work will be needed. There is no one-size fits all solution to selling your home faster than the average person, but there are different techniques you can use.
With decades of experience in Ontario’s real estate market, the team of experts at Mortgage Broker Store know a lot about buying and selling homes, and what it takes for you to sell your home quickly and get a fair return. Here is a list of the best ways to sell your home as fast as possible:
Despite what many people think, you do not need a real estate agent to sell your home. You can choose to work with other types of professionals who work in the real estate industry like brokers, real estate developers, cash-home buyers, real estate attorneys and real estate investors.
You can choose to sell your home in any condition, but in order to get the highest possible offer you should ensure that your home is clean and tidy. Not only will this help potential buyers see the value and usability of the property, but it will help ensure that your home stays clean.
Even if your home has recently been damaged or is still undergoing renovations, you can still sell it although you are not likely to get reasonable offers unless you contact a cash home buyer.
Selling a home is no walk in the park, even in a housing market like Ontario. There are things that you should be aware of that will ensure you are not making the process take longer than it needs to be. Here are the top mistakes to avoid when selling your home:
If you wish to sell your home fast there are 3 main options you can explore:
This is the standard way to sell your home. You contact a real estate agent and they take over the process and ensure that all the necessary paperwork is completed and try to get your home noticed by many buyers. Often this involves setting up home viewings for potential buyers to walk through the home and try to picture how they would live in it.
There is no guarantee that the home will sell quickly. Even in a hot real estate market it can take months to secure a sale. Not to mention in the meantime the homeowner might have to put up with helping their agent prepare your home for strangers, regularly vacate the property, clean up afterwards and restart the process until someone makes an offer. This may be too much hassle and time needed for their needs, especially if they are struggling financially.
There are also the real estate commissions of about 5%, plus HST to pay to the real estate agents.
When in a pinch you can choose to sell their property on their own. There are some benefits to this like not having to pay a real estate agent’s commission and fees, as well as having total control of the home-selling process. This option also comes with some major drawbacks.
Attracting attention can be a challenge, especially for those with no marketing or sales experience. Getting the home listed on a Multiple Listing Service (MLS) will cost money as well as the time and effort to take photos or videos of the property. Visuals are vital to generating interest in the home, without the proper experience this could take a lot longer than you think or be of low quality, and thus not attract the kind of offers you are looking for.
Using a cash home buyer is usually the fastest way to sell your home. A cash home buyer only needs 24 hours after seeing the property to place an offer, much faster than any other buyer is likely to make their decision. Most private buyers will want to look at multiple homes and decide which one is best for them and their future plans. They will likely want an in-person viewing as well.
With a cash home buyer, you can simply send them photos or a video of your home and they can use that to decide on their offer. Cash home buyers can provide this flexibility because they are private individuals or businesses that are looking to rent out your home or resell it at a later date. They are much less picky than ordinary home buyers because they are not buying the property to live in it.
A cash home buyer can provide you with cash for your home. Instead of waiting for a buyer to make you an offer and then waiting for their bank to pay you, you can get cash-in-hand on the day of the sale with a cash home buyer if you desire.
Finding a cash home buyer who is interested in your home is by-far the fastest way to get it sold. Homeowners often seek out these professionals to sell their property quickly and get fast cash.
If you would like to sell your condo quickly following the traditional sale by real estate agent may not be the best option for you. Most condo buildings have restrictions regarding access to the property, such as the condo owner signing in each person. Please consult with your condo management company before you try to sell your condo. A cash buyer will only need to visit the condo once before they present you with an offer, which greatly reduces any issues with condo management.
Selling a cottage or waterfront property can be more difficult than selling a house in the city. Cottages and waterfront properties are usually purchased in the in early spring. Winter time is the worst time to sell a cottage since the property will be more difficult to access and inspect.
Cottages usually require a substantial amount of work before they can sold. Potential buyers are also looking for very specific locations and amenities which makes selling a cottage more difficult. In contrast a cash buyer can purchase your cottage quickly and complete the sale right away.
When you sell to a cash buyer there is no real estate agent involved in the process. This means that there will be no commission paid for listing or selling the house. Homeowners can save tens of thousand of dollars when selling directly to a cash buyer.
Selling your property “AS IS” means that the buyer of your property will purchase the property in its present condition. The buyer understands that the house or condo may require repairs or have damage to the house.
The buyer assumes all responsibility for the house and will not be able to file any legal claim against the seller in the future. If you sell with a real estate agent your property usually is not sold “AS IS” and the seller may be subject to a legal claim in the future.
Cash buyers buy the property “AS IS” the seller will have no legal liability upon completion of the sale.
If you are experiencing financial difficulties that may cripple your savings or result in you losing your home through power of sale or foreclosure, we can give you fast cash for your home in Ontario. By being able to buy your home so fast, we can help you limit your expenses, pay off your debts, and get real value for your home before you lose it.
As a company that buys homes for cash, Mortgage Broker Store is equipped with the expertise and flexibility to appraise your home and provide an offer within days. If you are about to lose your home, or may be at risk in the near future, get the most out of it that you can. Regardless of whether your home has been damaged, still under renovation, or experiencing maintenance issues, we can work with you.
When you work with Mortgage Broker Store, we can get your home sold quickly at no hassle to you. You choose the closing date, you avoid paying fees and commission and you save time. If you are interested in exploring how you can sell your home in the GTA for fast cash, call 416-499-2122, or email us at ron@powerofsalesontario.ca
