There are many situations where a person may need to sell their house in Whitby quickly. The traditional method is to use a real estate agent and do extensive renovations and marketing. However, this process can take several months and is not a good option for people who need to sell quickly. The three most common ways to sell a house are with a real estate agent, For-Sale-By-Owner, or selling to a cash house buyer. Private sales and cash buyers can process the sale more quickly but may not achieve the highest price. People looking to sell their home or condo in Whitby fast should understand the advantages and disadvantages of each sales method. Also nearby are Brooklin, Windfields and Prospect.
Real Estate Values in Whitby and Durham Region
Durham Region, which includes Pickering, Ajax Whitby, Oshawa, Uxbridge and Clarington has also experienced significant price increases. In September 2021, The Durham Region Association of Realtors reported that the average selling price was $968,136. This is a 31.9% price increase when compared to the same time last year, where the average selling price was $734,038.
Need To Sell Your House Fast? – CTA
There are many reasons why a person may want to sell quickly, including financial issues and pending evictions. Our experts can explain all your options and help you make the best choice. Call us directly at 416-499-2122 or send us an email at firstname.lastname@example.org.
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.
Selling with a Real Estate Agent
Many people in Whitby use a real estate agent to sell their homes. Listing, marketing and closing the sale usually take many months, which means selling with a real estate agent is not a fast process. If the house is priced incorrectly, it will take longer to sell and usually sell for less than expected.
Real estate agents want a commission of around 5% plus HST to the real estate agents, 2.5% each for the selling and buying agents. The listing agreement is usually for six months, and the seller must pay the commission even if they sell to a family member.
Hiring a real estate agent is probably the most expensive way to sell your property. However, dealing with a real estate agent is the most popular method in Ontario and an easy method for getting a fair price for your property. Homeowners need to consider if paying real estate commission and repairing the house is a justifiable expense.
Private Sale also called For Sale By Owner (FSBO)
A private sale means that the homeowner will sell the house directly to the buyer. In this case, the homeowner will take on all the listing real estate agent functions, including market research, open houses, and signing legal agreements.
Private sellers must look at any repairs the house will need to get the top selling price. Private sellers should clean and paint and make minor repairs. Remember that some repairs and renovations, such as an expensive new bathtub, may not be a justified expense.
A private seller will still be required to pay the buyer’s real estate agent a commission of 2.5% plus HST. Private sellers will pay no commission to the listing agent, but they must do all the work related to selling the property.
Selling to a Cash House Buyer
There are several significant benefits when selling your house, condo or cottage to a cash buyer. You do not need to make any repairs, no open houses, no stress, no real estate agents to deal with. A cash buyer will buy the property “AS IS.”
The most common reason why people seek cash house buyers is the speed of the transaction. The seller can get the profit from the sale in as little as a week instead of months.
A sale to a cash home buyer will also be more discrete than other methods of selling. Cash house sales are not widely publicized, and only a few people that work with the cash buyer will inspect the property. A sale to a cash buyer may be suitable for people who don’t want many people visiting and checking their property.
Another significant benefit is that there are no real estate agent commissions. As a result, the seller can save tens of thousands by not having a real estate agent.
Selling to a cash home buyer is the easiest option for any person selling a house or condo. The sale process involves an inspection of the house to determine its value. The homeowner will receive an offer to purchase within 24 to 48 hours. The seller can choose a closing date that fits their schedule.
Sell and Rent Option
Some people choose to sell their home but also want to remain in the property. Most cash home buyers offer something called a “sell and rent option” to accommodate these requests. This alternative is perfect for people with limited cash but a large amount of equity in the home. The cash home buyer would legally own the property in this transaction, but would be required to allow the former owner to live at the home. In many cases, the agreement states that there will be either a reduced rent or no rent for a number of months. Since this is a unique offering, it is recommended to directly contact a cash home buyer for more details on this option.
Selling a Condominium in Whitby
Selling a condo in Whitby or Brooklin has been more difficult since COVID. Most condo managers have brought in stricter rules regarding who can enter the building. Please consult with your condo management before trying to sell your property.
We Can Purchase any Home in Any Condition – CTA
If your property is damaged, vacant, or under threat of eviction, you may want to contact our cash home buyers. We can go over your options and give you a quote within. 24-48 hours. Call us directly at 416-499-2122 or send us an email.
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.
Selling a Cottage or Waterfront Property
Cash home buyers can buy your cottage or waterfront property within 24 hours after inspection of the property. Cottage owners do not need to do any repairs before selling. Selling your cottage to a cash buyer can save you tens of thousands of dollars. Cash cottage buyers can quickly buy the property “AS IS”.