If you own a home in Aurora that you’re considering selling, now might be the perfect time to do so. This Ontario town saw a 21% increase in home prices from 2021 to 2022, measured between March 17 and April 14. With this increase, Aurora did better than nearby cities like Toronto, which only saw a 12.9% increase in average home prices, and Markham, which had an 11.4% increase from 2021 to 2022.
While Bradford saw better numbers than Aurora with a 22.6% increase in average home prices, the average home price in Aurora was still higher than Bradford by $300,000 at $1.6 million.
As these real estate stats show, homeowners that wish to sell their homes in Aurora are more than likely to get a good deal with an exceptional return on investment, especially if they are long-term homeowners. However, not all listed homes are sold in a quick manner, which is not ideal for some. This is why many homeowners are leaning toward cash buyers as a faster approach for those who want to sell their homes in Aurora fast.
Have More Questions?
As Cash House Buyers ourselves, we can directly answer any questions you may have about the process. Since everyone’s situation is a bit different, we can look at your unique circumstances and give concise and actionable advice.
This presents homeowners with a more convenient option than trying to find ordinary buyers. The question is, are cash offers really that good? In this article, we will explore:
- What a cash buyer is
- How to find a cash buyer in Aurora
- Advantages of cash offers
Cash buyers purchase homes with the purpose of reselling or renting them later on after some renovations. They can be a company or an individual, and they often buy houses for cash, which makes them an excellent option for homeowners that want to avoid dealing with banks and how long it takes to get paid through them.
Cash buyers pay homeowners out of their own pockets. This means they don’t need to get mortgages approved and they close deals much faster as a result. They are also less picky than ordinary buyers who will most likely view several homes after yours before they can make a decision. This is why many homeowners who want to sell their homes fast prefer cash buyers.
How to Find a Cash Buyer in Aurora
Whether you live in the heart of Aurora, the Hills of St. Andrews, or a neighbouring community like Whitchurch-Stouffville or King City, you can find cash buyers to work with. Ontario real estate is some of the most sought-after in all of Canada and has been growing in value at a rapid pace. This means cash buyers are eager to purchase houses, condos, and second homes across the province and in Aurora.
While cash buyers don’t often advertise to the general public, most of them have a website. To find cash buyers in Aurora, simply go online and search terms like “cash buyers in Aurora” or “companies that buy homes for cash in Ontario”. Look for companies that have a proven track record and experience in Ontario’s real estate market to make sure you’re dealing with a reputable company.
Why Homeowners Prefer Cash Buyers
Faster and More Convenient
When you reach out to a cash buyer, they will send someone to appraise your house or condo, they can even do some of the appraising online via videos or photos. One day after their appraisal, you will get an offer for your home. This alone makes cash buyers more convenient for homeowners than ordinary buyers. No other selling option in Ontario will allow you to sell your home as fast as a cash buyer.
If you need to relocate or settle debts, you can get fast cash for your home. Once you accept the cash offer, the process will take a few days and the sale will be over within a week or two at the most. If you sell to an ordinary buyer, you will likely need to wait months to get paid as the bank processes their mortgage request.
Another reason why cash buyers are convenient is the fact that you don’t need a real estate agent to negotiate with one. Realtors will charge anything between 3% and 7% of the sale, which amounts to thousands of dollars. If you sell to a cash buyer, you will pay no commission and you’ll save that money.
No Need for Renovations
If you plan on listing your home for ordinary buyers to buy, you will need to take care of a few things. First, you will have to make some repairs to fix major problems that may come up during an inspection like broken windows or cracked walls. You’ll also likely need to give the house or second home a fresh coat of paint to make it look new. Then, you’ll need to declutter and clean the house to make it more presentable for when interested buyers come and view the place. This process can be long and it will cost you money and time to make those repairs and properly clean your home.
However not everyone can afford to wait, and not everyone can afford to spend money on a home they are trying to get rid of.
With cash buyers, you don’t need to do any of that. They purchase homes ‘as-is’ so you won’t have to do any renovations or even clean your home. Unlike ordinary buyers, cash buyers don’t plan on living in the property, so they will make you an offer regardless of its current condition. This makes it ideal for homeowners who want to sell fast and spare themselves the hassle of repairs and cleaning.
Sell Your Second Home Fast
If you own a house or a condo in a lively location like Downtown Aurora, your chances of finding buyers are quite high. If, however, you own a second home or a house in a more secluded area like Aurora Highlands or Preston Lake, you may struggle to find buyers in a short period of time.
Generally speaking, rural and suburban locations are not highly sought-after properties, so if you try to find ordinary buyers for your property there, it could take time. If you are in a hurry to sell, this can be quite a predicament. However, if you reach out to a cash buyer, they will still offer to purchase your second home, regardless of how rural or suburban the location is. Cash buyers buy homes anywhere, even in secluded locations as they can use them as vacation rentals, among other things.
Sell and Rent Back Options
You may need to sell your home fast for a variety of reasons, but if you don’t have a plan in place for what comes after, you may find yourself in a tight spot. Where will you take your family and things? What is the best place for your needs? What can you afford?
For some homeowners, they have another property lined up, ready for them to move in after selling their other home. For others, it’s a bit more complicated than that. They need to sell their current homes but they don’t know what to do next. In this case, if you sell to cash buyers, you can leverage the ‘sell and rent back’ feature that many offer. After you sell your home to them you can continue to live there as a tenant for as long as you want.
This way you can take the time to find the right place to make your new home, or, you can keep living in the home you built memories in without having to deal with maintaining it.
It depends on how fast you want to sell your home and for how much money. If you want to get the highest offer for your home, ordinary buyers are a better option because there’s room for negotiation and you can try to get a higher number than the market average. If you want to sell your home fast, cash buyers are the way to go as they offer both speed and convenience.
More homeowners than ever are going for cash offers as they spare them from having to deal with banks and trying to find an ordinary buyer in challenging economies.
Speak With A Cash Buyer Right Now
With quick and friendly service, we are always happy to offer free advice. Whether you are serious about selling or just curious, we can explain your options and what to expect.
If you want to learn more about cash buyers in Aurora, call Mortgage Broker Store at 416-499-2122 or fill out one of our forms on this website for a FREE consultation! We buy homes for cash and we can help you explore your options in Aurora and sell your home fast.