Property owners facing either foreclosure or power of sale turn to cash home buyers in Pickering for a timely sensible solution. There are other reasons people sell a house fast in Pickering for cash, but using this system gets them all a fair market offer within 24 hours. What’s more, these companies always have cash on hand.
Pickering has a few different features that make it an attractive real estate location. It’s nestled against Lake Ontario and showcases a beachfront destination that includes excellent real estate. It also offers a strategic location close to the City of Toronto.
Current Trends in Pickering Real Estate
The real estate statistics for Pickering are impressive. Current numbers place the average house price at $1,327,799. The median number of days that a home sits on the market in the city is only seven. The most current statistics for March, 2022 report 247 new listings in Pickering in the last 28 days.
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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.
The housing market in Pickering is robust. The city is the 16th fastest-growing municipality in the GTA and the 17th most expensive. It also ranks as fifth for fastest-selling.
All of these factors make the demand for homes in Pickering high. However, these positive trends don’t mean some homeowners don’t run into financial troubles. Unfortunately, some people who own property miss payments to their lending institutions. Please read on to find out what happens when this situation snowballs and becomes a bigger issue.
What Happens When You Miss Mortgage Payments?
Missing a single mortgage payment isn’t a complete catastrophe although it has consequences. Quite often, mortgage lenders or banks will send you a letter by regular post or call. Ignore this kind of warning at your peril.
Homeowners in Whitby who miss several payments can find themselves in the middle of a foreclosure or power of sale. There’s a difference between them you need to be aware of.
The power of sale is the more common of the two processes used in Ontario. This is a situation where the lender gets the legal right to evict any residents of the home and sell the property to recover the money that’s owed. The foreclosure operates a little differently. With one of these, the lending institution takes title to the property. While the two processes are similar, a foreclosure can take much longer. Sometimes, these can take a year or more whereas the power of sale can be done in as little as six months or less.
To sum up, the differences between the two come down to the lender obtaining the right to sell in the power of sale and the lender obtaining a legal title or ownership to the property in foreclosure.
Perhaps the best news is homeowners in Oshawa who need to sell quickly have several different options to avoid either one of these.
Selling Options Open To Pickering Homeowners
Choosing the best method to sell a property means understanding your options.
- Using a Real Estate Agent. A real estate agent is a professional who can handle most of the marketing and documentation for the sale in Port Perry. However, they will more than likely want to have showings so the property will need to be upgraded and repaired. There is also a time element for homeowners who need cash quickly. The Toronto Regional Real Estate Board ( TREEB) reports the average number of days for a house to sell was 20 in 2019. Some homeowners might not be able to wait for the house, condo, or cottage to sell and the closing to go through using this method.
- Selling a Home Privately. There are several different options open to a homeowner here. For Sale By Owner Services have a few advantages that make them look like the best option at first. For example, no commission goes to an agent. People who want to sell their own homes understand the property’s strengths and weaknesses like no one else. However, there is a downside that involves the amount of time you’ll need. Advertising the property, showing potential buyers around, and dealing with the administration and paperwork takes a lot.
The third option is using a cash home buyer in Pickering. Remember, these individuals or companies usually have the cash on hand. That means there are no commissions to be paid to real estate agents and no mortgage requirements to bog the process down. It’s a quick way to sell a home for around market value.
Steps for Selling a Home Quickly
Perhaps best of all, the process itself is simple. It only usually involves three steps.
- Just get started by contacting one of these companies and supplying some essential information.
- After a quick inspection, they will usually make an offer. There is no obligation, it’s simply the company providing you with an amount they will pay for your house.
- The payout comes last where a closing date gets a range that suits the seller.
This quick process is just one of the advantages you’ll get when you use a cash home buyer in Pickering.
Advantages of Using A Cash Buyer in Pickering
There are other reasons why this system is an excellent choice for people who need to sell a home fast in Ajax. There are no hidden fees, appraisals, inspections, and no commission. All the homes are bought in AS-IS condition. The same goes for cottages and condos. There is no need for repairs or upgrades.
Using a cash buyer in Pickering for a quick sale means that you’ll have a hassle-free closing if you’re looking to sell a condo fast. There won’t be any buyers who back out and leave you stranded. As well, there’s no real estate agent to deal with. Remember, these cash home buyer companies all have the money on hand.
Selling a home for cash is an excellent solution for a specific group of homeowners. There are a variety of different reasons why this route makes sense. This works when you’re looking to sell a cottage fast too.
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.
Are you looking for a cash home buyer in Pickering? Mortgage Broker Store supplies that service in a friendly and efficient manner. Email firstname.lastname@example.org or call 416-499-2122. We supply an excellent alternative to more traditional selling techniques that involve real estate agents and mortgages.