Looking to sell a home quickly in London? You might be facing eviction from foreclosure or power of sale. Maybe you own a cottage in a small town or on the waterfront that you want to sell fast. A cash home buyer in London can help with a no-obligation offer in as little as 24 hours.
These businesses have the money on hand and are always ready to fashion a flexible closing date that suits a seller.
Getting a good idea of the real estate picture in London is the first step before you make any decisions about selling a condo or home. It’s the same if you have a property in Saint Thomas, Aylmer, Port Stanley or even Strathroy.
Current Real Estate Trends in London
The Canadian Real Estate Association (CREA) has good news if you’re looking to sell a condo fast in London. The median sale price for single-detached dwellings jumped 29% YoY in Q1 of 2022. That means the sale price set a new record of $840,000 for the first quarter of this year.
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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.
The same good news applies to row units and townhomes. They sold for a median sale price of $680,000 which represented a 38.9% YoY increase.
The residential property sales in the area totaled 2,398 units in the first quarter of this year. That’s down 7.3% from the same period in 2021. Real estate in London is still active so it’s a good time to consider using a cash home buyer in London if you need to sell a home quickly.
There are several reasons why this is a good idea, but staying ahead of a looming eviction tops the list. Of course, there’s a simple reason for this that’s common.
What-Happens When You Miss Your Mortgage Payments?
The first thing you need to do if you’ve missed a mortgage payment is contact the lending institution immediately. Once the payment is 30 days late, the lender will likely report to the credit bureau. At that point, your credit score can be damaged. Penalties and legal fees start to add up if you start falling too far behind.
If you stop paying a mortgage, a power of sale or foreclosure is the eventual outcome. Left with no other option, a bank or lending institution will use either of these financial tools and evict you to reclaim their investment. It’s a scenario that no homeowner wants to face because it can apply to a condo, cottage, or any type of property.
There are a few differences between the two. With a power of sale, the lender can sell the property. That same institution can take title to the property under foreclosure. With the first method, the homeowner can get access to profits. The former homeowner gets nothing under a foreclosure.
In some situations, it’s better to sell a home fast than to find yourself dealing with either of the above scenarios.
Selling Options Open to London Homeowners
There are a few different ways to sell a home quickly. All except for the last one can be time-consuming and expensive.
- There’s usually a long process if you decide to use a real estate agent. Although they can help you to sell a cottage or condo quickly by exposing you to a large number of buyers, you need to repair and upgrade where necessary. Don’t forget you’ll need to pay the commission and most likely you’ll have to book showings.
- You can also sell your house privately by yourself or by using a For Sale by Owner (FSBO) Service. Either way, you’ll need to prepare the home before you list it by painting and decluttering as well as staging and a deep cleaning. It’s time-consuming if you’re looking for a quick sale.
- The last option is using a cash home buyer in London. These companies can present you with a no-obligation offer quickly. They regularly buy homes for cash, looking to rent or resell at a profit. These companies will also buy a cottage that could otherwise sit on the market in a rural location.
Steps for Selling a Home Quickly in London
Here are some other things that you can do to sell a house quickly.
- Getting the house appraised is a good starting point. MoneySense reports that you should pay close attention to your curb appeal. That means cutting your lawn and trimming unkept hedges before you get the place appraised.
- Pricing makes a big difference. Keeping the numbers simple is the best idea. In other words, buyers looking for a place in the range between $750K and $900K, will be confused by a price reading $767,989K.
Using a cash home buyer in London is a simple direct method. You cut out any middlemen and get the deal done quickly and efficiently. Here are a few more reasons why this option makes sense for homeowners looking for a quick sale.
Advantages To Using A Cash Buyer in London.
A cash home buyer in London has the money on hand so the deal goes through. There is no mortgage involved, so sellers can expect to get a no-obligation cash offer in as little as 24 hours.
- The offers you get are below market value and there’s no commission and no real estate agent to pay.
- Sellers don’t need to upgrade, renovate, fix or paint. A cash home buyer in London will take the property in AS-IS condition.
- The closing is flexible. These companies set the time and date up to finalize the deal at the convenience of the seller.
Cutting out the steps in a more traditional selling process is also a big timesaver. Using a cash buyer can save someone looking to sell quickly between 30 to 60 days. Using a company that follows these steps can help you when you’re looking to move on to the next phase of your life.
Cash buyers also buy homes in St. Thomas, Aylmer, Strathroy, Mt. Brydges, Ingersoll, Port Stanley and Lucan
Sell Quickly with No Commission
Selling to a cash buyer is an excellent alternative in many situations, especially when the closing must be completed right away. There are no commissions to pay, no conditions on the sale of the property and no real estate agents involved. Give us a call at 647-494-5943 or email us to get your house sold today.
Mortgage Broker Store is a cash home buyer in London. Get in touch with us today for some free advice about your options when it comes to a quick sale. Email ron@mortgagebrokerstore.com or call 416-499-2122.