There are many reasons why a person may need to sell a house or condo in Oshawa quickly. If you are one of these people we suggest you look at the options below to determine which method is best for your situation.
The Durham Region Association of Realtors September 2021 report, which includes Oshawa, Clarington, Courtice and Bowmanville shows that the average selling price for a home is $981,136.00. For September 2021 there were 1006 houses sold with a year to date average selling price increase of 32%.
House Selling Options
There are three basic methods to sell your home, condo or cottage in Oshawa. Each option has benefits and drawbacks, most people go with the option that provides either the fastest result or the highest selling price. The most common ways to sell your house is with a real estate agent, For Sale by Owner (FSBO), or selling to a cash home buyer. Cash buyers in Oshawa can give you a fair price offer to purchase within 24 hours and close the sale quickly.
Get a Fair Purchase Offer
The offer to purchase is based on local market prices and conditions. Our terms are very flexible, you can close now or in a few months. Call us at 416-499-2122 or email us for an all-cash offer with a quick closing at a fair price.
Selling with a Local Real Estate Agent
Most people know at least one or more real estate agents. The real estate agent could be a friend or even a family member, they will want you to make repairs or stage the house before listing the property. The process of listing, selling and closing the sale usually takes many months which means selling with a real estate agent can be a time-consuming and slow process.
All real estate agents are required to get a signed listing that commits the seller to pay a commission of around 5% plus HST to the real estate agents. The real estate agent agreement is usually for 6 months and the seller is required to pay the commission even if they sell to a family member within six months. For most homeowners in the Oshawa area, the real estate commission will be over $40,000.00.
In general, selling with a real estate agent is not the fastest way to sell your house but it can be one of the most profitable ways to sell your house.
Private Sale or a For Sale by Owner (FSBO) Sale
A private sale or an FSBO sale is when a homeowner sells their home directly. This means that the homeowner will now be responsible for all the functions that a real estate agent would do. This includes researching the local market, listing the property, managing any open houses and dealing with real estate agents.
A private sale also means the homeowner must determine what if any repairs must be completed before listing the house and cleaning the house. Before doing any repairs the owner should determine if the cost of repairs will increase the property value.
A private seller will still be required to pay the buyer’s real estate agent a commission of 2.5% plus HST, or about $27,000.00 for the average house in Oshawa. A private seller saves some money but is required to do almost all of the work.
We also recommend that a private seller retain a lawyer before listing the property. A private sale is also the slowest method of selling your house and it is not recommended if you need to sell quickly.
Sell to a Oshawa Cash House Buyer With No Commission
Selling to a cash home buyer is the fastest and easiest option for selling a house or condo.
A cash buyer can inspect the property and present an all-cash offer within 24 hours. The seller can choose an immediate closing date or a closing date in the future.
Sell and Rent Option
The sell and rent option is perfect for people that have a lot of equity in their property but have a limited income. Many seniors fit this profile and can remain in their home with this alternative option.
Fast Sale to a Cash House Buyer
Selling your house condo or cottage to a cash buyer has several significant benefits. The major benefit is that you pay no commission to any real estate agents. Since there are no real estate agents involved a seller can save $50,000.00 or more.
Other benefits include no open houses or showings at various times. There will be no real estate documents to sign or an expensive repair to pay for. Selling to a cash buyer is the easiest and fastest way to sell your home.
Selling a Condominium (Condo)
If you are planning to sell a condo, COVID rules may make selling more difficult. Each condo has its own rules and may require each person to sign in before entering the building. Please consult with your condo management before trying to sell your property.
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 416-499-2122 or email us to get your house sold today.
Selling a Cottage or Waterfront property
Selling the family waterfront cottage usually takes much longer than selling a house or condo. Cottages usually are bought and sold in the springtime, not many sell in the winter.
Cash home buyers are a great alternative when selling a cottage property. Owners do not need to make costly repairs before selling and can get their money right away.