Are you considering selling your home? You may be debating which option is more beneficial, a private sale or hiring a real estate agent to sell your house in Ontario. Various events can impact your life and also change your housing situation. These events can often determine your timeline for selling and therefore impact which route makes more sense for you.
Showing Appointments
One of the most important factors will be determining whether you and any other residents of the property are willing to make yourselves essentially invisible whenever there are showings and continuously keep the home spotless. Despite your reasoning for selling your house in Ontario, nobody enjoys the stress of coming home from a long day of work to immediately clean up your home and leave the house again for showings. Along with the agent selling your house, you will need to deal with buyers agents, who will be the ones showing the home. Unfortunately it is hard to control when they will want to see the house and they may interrupt you during dinner time or while you are working from home and in an important zoom meeting.
If you’d like to avoid this inconvenience altogether, you may be happier with a private sale, you won’t need to remain constantly on top of your home’s appearance or worry about staging. An investor buying directly from you will likely purchase the property in “as-is” condition meaning you don’t have to constantly keep the property clean and tidy.
Investing More Before Selling
One key difference between a private sale and selling with an agent is that a real estate agent will typically advise that you make some updates or repairs on the property before listing it on the market. These repairs can get costly and take a lot of time. Part of the reason for this suggestion is to ensure your home passes inspection when the prospective buyer has their inspector come through looking for any deficiencies in the property. If you don’t pass the inspection, you could be required to spend even more on repairs in order for the property to qualify for the mortgage loan. Don’t forget, you need to concern yourself with exterior curb appeal and may be advised to cover the additional expenses of staging your interior. You may even be required to cover the costs for professional photography and advertising the property.
When working with a professional buyer, none of the concerns or costs associated with curb appeal or updates will be an issue. Major or minor repairs can be forgotten and worrying in general about your home’s appearance will fly out the window when you sell your house in Ontario through a private sale.
Professional Expenses
Real estate agents charge commissions and potentially other charges for things such as staging or listing the property on multiple real estate boards.
Making a private sale to an investor typically means that there are no commissions and no inspections, repairs or even the initial investments involved in updates and making the overall appearance of the property appealing.
Delays
Due to the nature of traditional listings, there is no ETA on the closing when selling your house in Ontario through a real estate agent. Additionally, depending on the buyer’s circumstances, there may be delays in the actual closing date.
An upside of selecting a private sale vs hiring a realtor for your property is that you’ll sell your house in Ontario within a short timeframe and there won’t be any delays in closing due to failed inspections or financing issues.
We’re here to assist you with any questions or concerns you may have about the choice ahead. Call SLG Home Buyer today or send us a message to learn more about a direct sale vs. hiring an agent when selling your house in Ontario. 647-490-1334