Homeowners in Sarnia might need to sell their properties quickly for a variety of reasons. Some need to sell a condo because they are facing a power of sale or foreclosure. Others in nearby Port Huron must sell a cottage quickly because repair and maintenance bills are overwhelming.
Cash home buyers in Sarnia present an excellent alternative to more traditional selling methods. In most cases, you can get a no-obligation cash offer that’s around market value in 24 hours. This is a great way to sell a condo fast.
If you’re considering selling a home quickly in Sarnia, you should have a good understanding of the real estate market there.
Real Estate Trends in Sarnia
The average sale price of a home in Sarnia was $562,410 in March. That represented a gain of 14.3% from the same month in 2021. However, the MLS® System of the Sarnia-Lambton Real Estate Board, also reports the number of homes sold in March was 153. That represents a drop of 17.3% from March of 2021.
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.
Over the first three months of this year, home sales in the area totaled 354 units. That’s a drop of 16.1% from the same time frame in 2021.
Rob Longo, President of the Sarnia-Lambton Real Estate Board, is keeping an eye on the trends but expects sales to pick up.
“Although the numbers this past month are down from the red-hot market we experienced last year, the busy spring season is upon us,” he said recently on The Canadian Real Estate Association (CREA) website. “We expect sales to pick up over the next few months.”
Property owners in Glencoe might be looking to sell a home fast for several reasons. Some of them might not be able to keep up with payments.
What Happens When You Miss Mortgage Payments?
The simple advice is you should never miss a mortgage payment. However, life isn’t usually simple and many people are juggling different debts every month. Most lenders will want to help you if you’ve missed a payment.
Options to Correct The Problem
However, you need to be transparent and contact them. Be upfront about your situation and willing to discuss options to correct the problem.
Keep in mind that lenders can take legal action after 15 days of nonpayment, but that doesn’t usually happen. Some won’t take any action until 90 days after you’ve started missing payments.
Missing payments can cost you money, your credit score, and even your house. Lenders have the option of evicting homeowners using a power of sale or foreclosure if there is no other remedy.
- The power of sale lets a financial institution sell your property to recover what’s owed on the loan. This is the most common process in Ontario and gives the lender the legal right to evict homeowners and residents of a property.
- The foreclosure process is a little different. This process lets the lender take the title to the property.
The results for either process are the same in the end. A homeowner gets evicted. It’s much better for people facing either process to sell quickly. There are several options available in Sarnia. Read about the different possibilities below. The last is the best way to sell a condo fast.
Selling Options Open To Sarnia Homeowners
Selling a house quickly in Sarnia or nearby towns like Wallaceburg is easier when you understand which option best suits your situation. Here’s a list of the common techniques homeowners use to avoid either a power of sale or foreclosure.
- The Traditional Route. This means using a real estate agent to list the property. You’ll need to pay them a commission when the property sells and make it presentable for showings. Keep in mind this all takes time. Current Sarnia MLS numbers report the median number of days for a home on the market there was 81.
- The DIY Route. You’ll do all the work here. That includes preparing the cottage, condo, or home for sale. Decluttering and minor or major repairs need to be looked after. You’ll need to market the property on your own. There are websites, but you’ll need professional pictures and have to get the place staged. Finally, the sale needs to be negotiated. There are lots of details to include in a contract. The purchase price and closing concessions are only a few.
The options above can take up quite a bit of time. Plus, there’s no guarantee that you’ll make a sale. For smaller towns like New Baltimore, homeowners looking for a quick sale should consider a more direct alternative. A cash home buyer in Sarnia puts you on the path to a quick sale with no commissions to pay and no real estate agent to deal with.
The Advantages of Using A Cash Home Buyer in Sarnia
There are some big benefits to using one of these companies and the first is the simplicity of the process. In most cases, you can submit some information, the cash home buyer will conduct a quick inspection, and you’ll get a no-obligation cash offer in as little as 24 hours.
Other bonuses include:
- The fact that you can sell a cottage in AS IS condition. You don’t need to make any upgrades or repairs. Cash home buyers are looking to resell or rent the property. They take over the responsibility of fixing it up to that end.
- The cash home buyer system in Sarnia closes deals faster than more traditional methods. Typically, the deal only takes 7 to 14 days. A more conventional sale takes on average 79 days.
- You’ll also save on closing costs using this method. You’ll be able to save money on items like appraisal fees, credit checks, and processing. Plus there’s no commission to pay since there’s no real estate agent involved.
Don’t forget that contingent offers can fall through at the last minute. That doesn’t happen with cash home buyers since they always have the money on hand.
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.
If you are thinking about selling a condo or house quickly in Sarnia, we can help. Our team is experienced and has the in-depth knowledge you are looking for.