Many people feel selling their home is one of the most stressful experiences they’ve had. If you’re experiencing financial or other distress and need to sell quickly, further strain is added to the situation. One way to make the experience less stressful is to understand the various options you have when selling your house. We’ll help you by exploring your options when selling your house in Ontario.
Exploring All of Your Options When Selling Your House in Ontario
Real Estate Agent
Let’s explore selling your house in Ontario in the traditional manner, which is listing the property with a real estate agent. Agents are paid a commission based on a percentage of the sale price of your home. The current market condition will be a major factor in determining the asking price.
You may need to invest in updates, repairs and decluttering in preparation for showings while playing a waiting game until an interested buyer comes along with an offer. These buyers often require inspections of the house and may also demand that additional repairs are done before closing. Sadly, you could end up with a buyer that doesn’t qualify for a mortgage, after taking all of the steps to meet the qualifications from banks and waiting for the mortgage underwriting process and property inspection.
Professional buyers usually offer cash, which means you can expect a quick closing on your house. They are experienced investors who buy your property as-is, which will save you the time and money of doing repairs. This also alleviates you of the legal responsibilities associated with disclosure.
Professional buyers are taking higher risks, offer faster cash sales, and usually pay the closing costs. For these reasons, their offers are usually lower than properties sold as FSBO or listed on the MLS. Unfortunately, there are less than honest buyers who may try to take advantage of time or financial constraints you reveal to them, so research carefully just who you’re working with. At SLG Home Buyer, we are dedicated to making offers to homeowners that are fair and well thought out.
For Sale By Owner
Selling a house in Ontario on your own may sound intriguing since you’ll be controlling everything. Real estate agents charge commissions for their services, which cuts into your profits. Should you be experienced regarding legal issues where real estate advertisements and transactions are involved, you can save a great deal of money on the deal. However, it can be extremely costly and legally devastating to make an error on either advertising or how you handle all of the aspects of your sale with the buyer.
Depending on the circumstances you find yourself in, you may be able to negotiate a short sale with your lender. You will want to note that this is a very slow-moving process which means that the lender has agreed to allow a sale for less than the remaining debt on the loan.
We’re happy to further explore all of the options for getting started now on selling your house in Ontario. Just call SLG Home Buyer today at 647-490-1334 or send us a message to learn more!