Have you worked with “Private Home Buyers” before? Do you need to sell your house fast in Ontario? Are you thinking about your options? You’ve worked with realtors but not with “private home buyers” and wondering if they are right for you?
It’s important that you understand the options available to you. There is more than just one way to sell your Ontario home. We get asked about how we’re different from working with realtors often so in this post, we will dive into the details, so you can decide which selling option will be right for you. Selling with realtors or private home buyers.
Hiring An Ontario Real Estate Agent
You likely know you will have to pay your agent a commission of about 5-6% if they are able to successfully sell your house in Ontario. However, there are also a number of other costs that will come into play when listing your house for sale.
- Marketing – Many home sellers want or need to utilize marketing that goes beyond the scope of their agent. This can be professional photography, virtual tours, or premium listings.
- Repairs – Even if your house is in great shape, there will likely be something that will need fixing. Whether it is a new coat of paint, replacing a leaky faucet, or patching a hole in the wall, these repairs will add up fast.
- Staging – When you list your home you will want it to look its very best. This means you should take some time to hide away the clutter and decorate it in a warm and inviting fashion. Whether or not you hire a professional stager in Toronto, making the house pretty can cost a pretty penny.
- Holding Costs – The holding costs include things like your property taxes, homeowners insurance, utility bills, condo fees if applicable and maintenance. These costs don’t stop when you list your house. In fact, keeping your house in tip-top shape can actually drive your holding costs up even higher.
- Cleaning – Before you list and while to is on the market, the house will need to be kept clean. Many people opt to have it cleaned professionally before it is listed, maintaining the home while it is listed. Cleaning can consume a tremendous amount of time and energy especially if you have pets and kids. You should also consider professional carpet cleaning, power washing, and yard clean-up and hauling expenses.
That said, working with an agent has the potential to get the highest price possible. Just be sure you have deducted all of the costs mentioned above to be sure listing with an agent in Ontario makes sense for you.
When you hire an agent to help you sell your house in Ontario, they will shoulder a portion of the effort that goes into selling. That said, the process will require some of your time and effort as well. For example, you will likely have to spend time…
- Keeping the property clean and ready for those last-minute showings
- Making repairs and upgrades to the property before it hits the MLS
- Marketing the property on sites other than the MLS
- Vacating the property when someone requests to come see it
- Waiting for an offer, hoping you will get your asking price
- Reviewing offers from potential buyers
- Negotiating with potential buyers
- Waiting for the legal process to be completed
- Dealing with inspectors and appraisers
The worst part is that you could go through all of the above, only to have the sale fall through at the last minute. If you’ve spent any time shopping for homes in the past, you’ll often see properties go “Sold Conditional”, only to be relisted when the funding falls through. Worse than that is when you find out a day before closing that the buyer is unable to close on your house. Often its because they couldn’t get their financing together or maybe their life situation has changed. You want to get a substantial deposit to make sure you are in a comfortable position if the worst ever happens to your sale.
One of the most difficult parts of selling your house with an agent in Ontario is the unknown. You won’t know if you will get your asking price, when, or if your improvements will provide returns. Not only is this stressful, but it also makes it difficult for you to plan ahead.
Selling To Private Home Buyers
It’s no secret that when you sell your house to private home buyers in Ontario, the sale price will not usually be as high as retail. That said, the amount you can save will make up for it. Most private home buyers, including GTA House Buyers buy houses as-is, which means there are no repair costs to worry about. You will also not have to pay commissions, closing costs, or extended closing costs.
In most cases, we are able to close in just a few days, potentially saving you a fortune in holding costs. You won’t have to do a thing other than pack up the items you wish to keep. We will handle everything else, including any items you wish to leave behind. Working with GTA House Buyers will help you sell your house in less time, offering you convenience and a fair price.
When you consider the time and the money involved with working with Ontario real estate agents vs. selling to private home buyers, your idea of how to most efficiently sell your house may change.