Interested in selling a house in Toronto, the GTA, or anywhere in Ontario? If that’s the case, this post will help give you and idea on the question, “Will a real estate investor buy my house in Toronto for close to market value?” Read the full blogpost for a detailed answer…
When it’s time to sell your house, there’s a few alternatives:
- You can sell the house on the market by listing with a realtor at a specified list price and wait for another realtor to bring a buyer that is willing to make an offer to buy the house.
- You can skip the list with a realtor and wait for a buyer process and just sell directly to a buyer who can provide you an offer to purchase your house (this is what we do here at SLG Home Buyer).
If you’re questioning, “Would an investor buy my house in Toronto for close to list price?” then here’s what you should know:
The Reason Investors Invest
Investors purchases real estate with the intention to buy at a lower price and either sell the property at a higher price or rent it out. As a result, investors are interested in houses that are priced affordably for them to purchase.
Before determining your asking price, think about the benefits provided by an investor…
Understanding The Asking Price
Your asking price is the starting point for the negotiation. Even when listing your house on the market, using a realtor, the ask or “list” price will be merely a starting point to which the potential buyer will try to negotiate a reduced price.
However here’s what a lot of people don’t realize: the ask or “list” price has other aspects built in… for example, it assumes that you have made all repairs, have your place cleaned up and in tip top shape so it’s ready for a potential buyer. Also, keep in mind that you will be paying bills, insurance, and property taxes on your house throughout the entire time that a realtor is trying to find a buyer, which can take months. And then you’ll have to pay both your realtor and the buyer’s realtor thousands of dollars in commission.
These components are all built in to the asking or “list” price.
An Investor Skips All This
If you work with an investor, you don’t have to consider any of these things. There is no need to repair or clean your house, which means you’ll save thousands of dollars there. And an investor can give you an offer on the spot with a quick closing if you need. Meaning you won’t have to pay bills, taxes, and insurance for months while you wait for a buyer to be found, to make an offer and then wait an extra few months for them to close on the property And best of all, there were no realtors involves so you don’t have to pay any fees or commissions.
When you add it all up, you can save thousands by selling to and investor, rather than listing with a realtor.
Summary
When you work with an investor, you can sell faster and avoid tonnes of fees and expenses. An investor may not be able to pay your asking price but they can help you save thousands of dollars, lots of time and many headaches. Ultimately an investor offers convenience, certainty and a fair offer!