In an ideal world, every homeowner will have ample time to prepare their home for sale. Unfortunately, the real world is anything but ideal, and there may be a time when you need to sell your house quickly.
Rushing to sell your home can often lead to homeowners accepting a lower asking price than what they would typically get on the market. That, on top of dealing with very expensive moving costs and Ontario’s land transfer tax, will even further diminish the returns of selling your home.
If you need to sell your home in Ontario fast, keep reading below to find out how you can do it without losing extra money.
What are some reasons you would have to sell your house fast?
There is a wide range of reasons why someone may need to sell their house fast including:
- Settle large outstanding debts
- Sudden unexpected expenses
- Need to downsize
- Stop power of sale or foreclosure
- Needing to separate assets during divorce/separation
- Property needing extensive repairs
Should I sell my house as-is or fix it?
When deciding if you should sell your home as-is or fix it, you need to consider your most important metric: time.
If you need to sell your home in a short period of time, then you should refrain from making extensive repairs to your home, as these could take longer than you expect, run over budget, and delay the sale of your home.
If you have the time and money to invest in growing your home's value, it is worth considering since you will reap the benefits when your home is put on the market. However, if you have a very limited window of time to sell your home, like those who are facing power of sale or foreclosure, then selling your home as-is will give you the best chance of selling it before your lender takes control.
If you are not in a time crunch then fixing your home before selling it is a great way to increase the sale price, as long as you have the funds to make those repairs. Repairing or renovating your home is one of the fastest ways to grow your home equity and make your home more desirable for potential buyers, both of which increase the chances that your home sells over your asking price.
How can I sell my house fast and higher than the market price?
- Clean the property
- Make the necessary repairs
- Stage the home
- Take high-quality pictures
What should be done in a house that is being sold quickly?
Start by cleaning up the front yard. Cutting the grass, covering up empty patches in the lawn, trimming any overgrown vegetation and hosing down the driveway are quick and easy things you can do to enhance the curb appeal of your home. This will make the home look more inviting and cleaner, helping create a positive first impression for those passing by or viewing your home online.
Removing personal items, furniture and any items that don’t compliment the home’s appearance can make the interior feel bigger and let more light in. It also helps visitors imagine their future in the home. Painting the walls in your home can further help brighten the interior of the home, which helps make it look cleaner and more lively.
Taking high-quality pictures of your home and posting them on online real estate platforms and MLS directories are vital to drawing as much interest as possible. This does not require paying for an expensive camera, as most modern smartphones have cameras with high-quality lenses.
Is it a good idea to sell my house to cash home buyers?
Even in Ontario’s hottest real estate markets, selling your home with a realtor can take a month to complete if everything goes smoothly, and that is assuming you find a buyer right away. Some homes can languish on the market for months before someone gets interested, and that may be too long for those who need fast cash.
A cash home buyer is the only sure way to get fast cash for your home in a short period of time.
Cash home buyers are individuals or businesses with the funds to purchase homes without needing the help of a bank or lender. Unlike ordinary home buyers, cash home buyers are (usually) real estate investors looking to buy homes to make a profit, often by converting homes into income properties or by reselling them in the future, usually after some renovations are completed.
Cash home buyers don’t buy homes to live in, they decide whether or not to buy a property based on its anticipated value in the future. Since they don’t need a bank or any financial institution to give them the funds needed to complete the transaction, they can act much faster than any ordinary buyer can.
Working with a cash home buyer is the fastest way to sell your home in Ontario. From the point of first contact to getting an offer for your home, you can get cash for your home within two weeks of meeting the cash home buyer. They simply need to appraise your home to determine the market value before they can formulate an offer.
An added benefit of working with a cash home buyer is that there is no need for a real estate agent since the cash home buyer will purchase the property directly.
No real estate agent means you don't have to pay any commission for their services. Considering that real estate commissions can range anywhere between two and seven percent of the total sale value of the home, you can save quite a bit of money and time by selling to a cash home buyer instead of working with a real estate agent.
If you don't want to live somewhere else, but need the money from selling your home, most cash home buyers offer a rent-back option that allows the homeowner to sell their home to them and continue to live there as a tenant. While this might not be ideal for some, it is a flexible option that cash home buyers can provide.
Where can I get cash buyers to sell my house?
Many cash home buyers have their own websites. You can go online and search for terms like ‘cash home buyers in Toronto’, ‘sell my house for cash’ or ‘companies that buy homes for cash’ to find their websites. When looking at different cash home buyers, you want to make sure you're working with a reputable professional who has years of experience working in Ontario’s real estate industry.
Regardless of whether you own a small house in Newmarket or a luxury condo in the heart of Toronto, cash home buyers will be interested. Once you find a professional cash home buyer, you will want to contact them and notify them of your internet to sell your home. They will briefly ask for details about the property, before sending an inspector to determine the market value of your home. The inspector will typically only need an hour or two to look around and take notes about the home. Once the market value has been determined, they can send you their offer within 24-48 hours. You are not obligated to accept their offer, and you are free to negotiate with them or contact other cash home buyers to compare offers.
With a growing population and Canada’s most valuable housing market, Ontario homes are in high demand for cash home buyers.
Mortgage Broker Store is an active cash home buyer in the Greater Toronto Area and across Ontario who can offer you cash for your home.
With over a decade of experience working in Ontario’s real estate industry, their team can help you understand the value of your home, and get you paid for it without having to spend all the time and money needed to prepare your home for ordinary buyers. Offers are below market value, but we act quickly and offer unparalleled flexibility.