Need to sell your Burlington house fast? Luckily, the market is working in your favour. The average price of a Burlington detached home is now $1.5 Million, up 17% in November 2021 compared to November 2020! Condo prices have gone up even more at 25% over last year with an average sale price of $716K. Townhomes have fared even better, selling at $899 with a year-over-year increase of 27%.
With these increases, it only makes sense that homeowners are selling to get top dollar for their homes. If you want to join them, it would be a good idea to sell your property sooner rather than later. The market is reacting to unprecedented times making it hard to know exactly how it will change in the near future. If you really want to sell your home fast, you may want to forgo the traditional market and take advantage of an all-cash sale’s quick turnaround.
Why is the Burlington market in such demand?
The main contributor to the Burlington housing market right now is the pandemic. The pandemic has inspired homeowners to sell their homes for a few very specific reasons that aren’t as common in an everyday market. A lot of people are selling to get out of the big cities like Toronto, Mississauga and Hamilton for health reasons.
Need to Discuss Your Sale?
The traditional mortgage or home selling process is not a good fit for everyone, and can feel overwhelming. You can contact us for a no cost consultation, and we can outline your options.
Other homeowners are selling because they need more room for a home office. There are also those moving because pre-pandemic they wanted to stay within a reasonable commuting distance from their jobs. Now working from home, they are free to live wherever they please. Just one of these reasons would be enough to see a fluctuation in the housing market, with all of them combined the market is unlike ever before.
Why do people normally want to sell their homes fast?
Some of the most common reasons that inspire a fast sale are when the owner doesn’t want the sale to drag on or if certain factors make the sale time-sensitive, like if their home is on the verge of foreclosure, or if they are going through a rough divorce and need cash quickly. Moving to a new city for work and being unable to carry two mortgages until the old home sells is another typical reason for a fast sale.
Cottages tend to be good candidates for a quick sale too. Most cottage owners want to sell quickly to save time going in between their second property and their primary home. The time savings and the added benefit of an as-is sale make all-cash sales an ideal scenario when to sell a cottage.
What You can do to Sell Your Burlington Home Fast
There are certain things that are proven to help sell your home fast:
- Get good pictures. The first introduction of a home to a potential buyer is usually a picture. Make the most of that introduction by getting a good set of pictures taken that highlight the best aspects of the home.
- Do value-added updates. Depending on the condition of your home it might be worthwhile putting some money into some well-thought-out updates. More often than not, a fresh coat of paint to the rooms makes sense. On the other hand, depending on what shape the property is in, a new roof may not be money well spent.
- Be detailed. Listings full of detail do much better than ones that leave buyers wondering. Take time to fill in everything you can, the effort will pay off in the end.
A Realtor vs. Cash Home Buyer
There is some value in using a real estate agent. They do a lot of the leg work in terms of showing the house, are presumably well versed in the housing market in the area they work in, deal with negotiations, and more. They are costly though. A standard 4-7% of the sale price goes to the agent. That’s a lot of money on a big-ticket item such as a house. Going the traditional route with a real estate agent also tends to take a lot more time, sometimes even months to get paid. Which doesn’t work when time isn’t on your side.
With a cash buyer, a sale can be all said and done in as little as 2 days. Most all-cash sales are done with an as-is clause alleviating the need for costly and time-consuming renovations. Cash deals are typically done directly between the cash buyer and the homeowner, which means no real estate agent taking a nice chunk of proceeds because there’s no commission to pay.
If you value your privacy, you may not be comfortable with many different strangers poking around your home, with a cash home buyer, they only need a quick look to come up with their offer. They will appraise your home based on their check and any information you provide, including any pictures and/or videos. Once they appraise your home they will get back to you with an offer in days. Not only will they get back to you, they will let you choose the closing date and some may offer you the option to live in your home as a renter if you don’t want to leave but need the money from the sale.
Even if you want to sell your old cottage fast, the process doesn’t change for cash home buyers. If it is damaged the cash buyer will simply factor in any repairs into their offer. This offer is unlikely to be given by any realtor or private buyer.
How to Find a Legitimate Cash Buyer for Your Burlington Home
You might think finding a cash buyer would be tricky, but that couldn’t be further from the truth. Finding a cash buyer can simply take putting a “For Sale” sign on your lawn. They can easily be found at real estate auctions too. Some scour online sites like Kijiji, Facebook, and Craigslist to find homes. The easiest way to find them though is a quick Google search like “Sell my Roseland house for fast cash” or “ Cash buyers in Burlington.” That will bring up multiple options.
To make sure the buyer is legitimate look for one that:
- Has one reliable source of contact.
- Responds to your emails and phone calls promptly.
- Is it clear how their buying process works and sticks to it.
Need Advice on Your Sale?
You may have more questions on the entire process and how much money a cash buyer may offer. You can contact our team directly and we’ll do our best to answer your questions.
Ask questions like, why are they interested in buying your home and how long have they been in the industry? Last, but not least, if they don’t do a physical walk-thru of the home before buying, walk away.
Want to sell your condo or home fast? Selling to a cash buyer in Burlington may be your best option. If you have questions about doing an all-cash sale, the team at the Mortgage Broker Store is ready to help. Get started today by calling us 416-499-2122 or by filing out the form on our website.