Homeowners decide to sell their properties for different reasons, but there’s one thing many of them will have in common, which is considering the sales process. There are many different ways to sell, and it’s essential to consider all the facts.
Before you consult a real estate agent and prepare for your first open home, check out this guide on how to sell your house in Toronto, Ontario. You’ll then have the information you need to make an informed decision.
Popular Sales Methods in Ontario
Even though you might see ‘for sale’ signs from real estate agents sitting on the front lawns of homes in Toronto, that doesn’t mean you can only sell your property through an agent. You can also sell to house buyers who pay cash for houses quickly, or even sell on the open market and handle open homes and buyer inquiries yourself.
Each sales method has its pros and cons. Selling through a real estate agent means they handle all the paperwork, but they also take a significant cut of your profits, which can be 3% to 6% of the sales price in Canada.
Selling to the open market allows you to keep your commission fees, but you also have to manage all the advertising, open homes, and paperwork yourself. That leaves selling to a home buyer. They generally present no-obligation offers and aim to close legally within a week or to your preferred schedule.
Choosing a Sales Method
Many factors can dictate which sales method is suitable for you. If you’re not in a rush and don’t mind paying an agent up to 6% of your home’s value, you may decide to contact a real estate agent.
With time and the knowledge to handle a real estate transaction, homeowners may also try to handle the sales process themselves. However, selling to a professional home buyer generally appeals to those who need to sell quickly and don’t want to worry about maintenance, repairs, and open homes.
What’s Involved in the Traditional Sales Method?
As you consider the right sales method for you based on what’s happening with the market, it can be worth looking at how the traditional sales process works.
Typically, homebuyers try to maximise their home value by spending money on renovations. They may then pay experts to determine a value, hire a real estate agent and wait for offers to be put forward. In this current market, you may be able to sell your home in just under a month.
Selling Your Home to a Professional Buyer
After realising just how much time it can take to sell a home yourself or through a real estate agent, along with the high costs, having an alternative option like selling to a professional buyer might appeal to you. This can be particularly desirable for those who need to sell quickly, can’t afford to maintain their property, are behind in payments, or have difficult tenants.
You don’t have to spend time or money revamping the property. If it meets the buying conditions of a private buyer, it can be off your hands in a matter of days.
Whether you’re in Toronto or elsewhere in Ontario, you have options. With no commissions or fees to think about, now might be the right time to contact SLG Home Buyer to learn how the sales process works.