It is an extremely eye-opening experience when you review a breakdown of the holding costs you will face when selling a home with a Toronto real estate agent. Carrying the weight of the home you need to sell can lead some into financial ruin. One reason you may face holding costs is that your home is lingering on the market. This could be due to your asking price being too high, causing you to lose money in the long run. Or, your home doesn’t conform to the surrounding properties or is out of style in the eyes of today’s buyers. When selling home, expenses can add up quickly when your listing sits for an extended period and becomes less attractive to your potential buyers every passing day. Another cause may be that your buyer fell through, which happens more often than you may realize. This can be double painful to your wallet should you have already relocated, based on the deal closing.
Utility bills that roll in like clockwork are included in the breakdown of the holding costs you will face when selling home with a Toronto real estate agent. Agents can provide average days a house sits on the market, however, they can’t provide the date you’ll close on the property. This open-ended arrangement can quickly escalate into an extreme financial burden as the property lingers on the market.
Homeowners insurance is another necessity and must also be counted in the breakdown of the holding costs you will face when selling home with a Toronto real estate agent. It just isn’t worth the risk to try to save money and many lenders require CMHC insurance, in addition to PIP mortgage insurance if you still owe a balance of more than 80 percent on your mortgage.
Property taxes wait for no one and will continue to accrue while your house is listed. You can easily determine your monthly cost by dividing the annual bill amount, the taxes will be prorated and included in your closing. This is another expense in the breakdown of the holding costs you will face when selling home with a Toronto real estate agent.
Your mortgage payments won’t wait for your buyer to come along. Just another holding cost you will face when selling home. Naturally, your lender will expect your payments to continue.
Repairs are a never-ending theme of homeownership that needs to be incorporated into the breakdown of the holding costs you will face when selling your house with a Toronto real estate agent. In particular, as homes age repairs can literally drown you in unexpected expenses. Your realtor may also ask you to complete some repairs before listing on the MLS because buyers are looking for homes where they do not have to complete any repairs. These repairs are essential if you are looking to get top dollars when selling home home.
Maintenance also needs to be added to the breakdown of the holding costs you’ll face when selling your house with a Toronto real estate agent. Maintenance must remain ongoing, especially when your home is listed and you want to attract buyers. If you’ve already moved, you’ll have to add travel expenses or pay someone to help you monitor the property and keep everything in order.
All of these costs can add up to thousands while your house is sitting on the MLS. Why wait any longer? Sell to GTA House Buyers instead! Save yourself the time, energy, and hassle of listing your home, we offer a quick and guaranteed closing date! You can forget about the utility bills, with no more house insurance, property taxes, or mortgage payments to make. Repairs and maintenance will no longer be a concern. Call (647) 848-7790 today or send us a message to learn how we can help you!