You might be looking to sell a home fast, even as quickly as in five days. If that’s the case, it doesn’t matter whether the property is a condo, cottage, or house. You need to have a plan if you’re looking to sell any type of property quickly. It’s important to know the real estate trends and other information so you can make the right decision. Having all the right information in place can help a homeowner who’s found themselves in a difficult financial position.
Consider the recent Toronto MLS numbers for February of 2023. The average sold price for a property in Toronto, including a condo or house, was $1.1 million. That represents a monthly positive change of 11%. The quarterly change is also a good number at 2.5%. However, the yearly change indicated a drop of 9.7%.
The median days for homes on the market is 21. Those are all important statistics if you’re looking to sell quickly. They give you an overview and can mirror similar trends in places like Richmond Hill, Markham, Ajax or Pickering.
If you’re looking to sell a home fast or a cottage quickly, the chances are you’ve got a good reason. Many people who own a property find themselves in financial difficulties. Some of these problems are created through no fault of their own.
Reasons You Might Need to Sell a Condo Fast
There are quite a few different reasons why a homeowner would want to sell quickly for cash. The following are some of the most common ones.
- Some people looking to sell their property quickly are facing a power of sale or foreclosure. With the first option, the lender can evict the homeowner, sell the property and get the money owed to them. However, the homeowner gets to keep the excess profit. A foreclosure means the institution takes the title to the property. With a foreclosure, that same lender takes title to the property and all of the responsibilities plus profits.
- A condo or cottage owner might need to sell quickly because they’ve been overwhelmed by repair costs. Here’s a list of the kind of expenses that can force someone to sell fast if they don’t have the budget for repairs. Unexpected floods and other natural disasters can put a homeowner in this position.
- Property tax arrears and separation or divorce are just two other reasons to look for a quick sale. This is another reason why you might need to sell a cottage fast.
In any of these situations and others, a viable option for alleviating financial difficulty is selling a property quickly. These types of issues can crop up regardless of where you live. They are happening in Toronto, as well as other places like Richmond Hill, Scarborough, Ajax and Pickering.
The trick is to find a way out of the financial difficulty as soon as possible. Here are a few methods stressed homeowners can use to sell a house in 5 days. Choosing the one that’s right for you means carefully considering each alternative.
Want To Sell A House in Five Days? Here are Your Options
Maybe you’re looking to sell a condo fast? Perhaps you’re looking to sell a home or even a cottage quickly? There are several different routes that can help.
- Using a real estate agent is one of the more traditional methods. They look after all of the details for you, including arranging showings and open houses. These are the professionals that can also help you negotiate with the seller’s agent. However, it’s important to remember you need to pay a commission for their services. Plus, they usually have more than one client. This process can take weeks or even months, depending on the market.
- Selling your house by yourself is another possibility. Keep in mind you need to look after all of the details yourself. The process can be exhausting because you’ll need to be able to keep the place in top shape to coordinate showings at different times with your own schedule. This is usually another longer route that takes a lot of time and effort.
There’s another option if you’re looking to sell a home quickly, perhaps in as little as 5 days. This one has the added advantage of no commission, no real estate agent, and you don’t need to do the marketing yourself.
The Cash Home Buyer Option
A cash home buyer is an individual or company that buys properties for the namesake cash. Typically they rent them out or resell them for a profit. This option allows the seller who’s interested in a quick sale the ability to sidestep their financial issues and a mortgage.
Here are some of the other benefits of using this alternative model.
- A cash home buyer buys a condo or cottage in AS IS condition. That means the homeowner doesn’t need to make significant upgrades or repairs.
- The cash home buying process is more direct than traditional methods. In many cases, a property owner can receive a no-obligation cash offer in as little as 24 hours.
- The cash home buyer process cuts out the middleman. There’s no real estate agent to deal with and no commission to pay when you use this method.
- There’s even a sell and rent back option in certain circumstances. In this situation, the sellers can remain as tenants for up to 3 years or even longer.
It’s important to keep in mind that a quick sale using traditional methods and a real estate agent can take 30 to 60 plus days on average. The closing date using cash home buyers is much more immediate. In fact, you can often pick a closing date of your choosing. So, in the end, if you’re looking to sell a house in five days, this is the option that checks all the boxes.
Are you looking for companies that buy houses for cash?
Mortgage Broker Store is a private lender and cash home buyer. We supply expert advice and free quotes. Email ron@mortgagebrokerstore.com or call 416-499-2122. We focus on hard to place mortgages and applicants that have a hard time meeting credit unions and traditional lending institutions’ requirements. We are a team of brokers and licensed mortgage agents and direct private lenders. We buy houses for cash.
