There are many reasons why homeowners want to sell their property in Ontario. For example, moving out for a new job, financial stress, having hit the investment target, family changes, etc. Those reasons may exert an influence on the strategy to sell.
It depends on your realty knowledge and experience, and your willingness. You can choose homes for sale by owner, i.e. sell your house privately. You can also hire a realtor for selling a house in Ontario. Realsav offers a unique package to lower your cost to sell a home while avoiding the disadvantage of selling without a realtor.
If you plan to buy a new home at the same time and you need the existing sale for downpayment or closing, you may have to think it over whether you buy first or sell first. It may have a large impact on you financially or mentally.
When is the best time into the market, is there any pattern to follow, what are the factors you need to know?
To calculate your net proceed of home selling in Toronto, a home seller may encounter the following costs:
Home preparation cost: Cleaning, minor fixes, painting, finish
Pre-listing home inspection if needed $300~$500
Status certificate for a condo only if needed: $100 for regular, a couple of more hundred add-ons for expediency.
Home Staging if required: $2500~$3000 on average.
Real estate commission: listing agent commission $2000~2% of the home selling price, less than $1000 if For Sale By Owner but you still require the MLS promotion. Buyer agent commission: most commonly 2%~2.5% of the home sale price
Legal fees: lawyer fees to sell a house are cheaper than that of buying a house with a bit less than $1000 on average.
Mortgage penalties and bridging financing cost if any
Moving cost: varies by DIY or a moving company.
All the above cost is subject to 13% HST
It may cost you 3 months mortgage
You may need temporary financing to bridge the gap between the time your existing home is sold and your new property is purchased. Please consult your mortgage specialist on the qualification and the total amount you can borrow.
The realtor may need a list of documents to verify and to fill in MLS, such documents include
Setting the listing price strategy is one of the crucial components of the selling process. Joined with factors, it impacts how fast you can sell and how much you sell.
Home staging facilitates home selling, but at a cost. Gather the basic knowledge to make a rational decision.
Not all home renovations make sense for investment purposes. You certainly would spend your money on those with the best return and on those necessities.
MLS, Open House, Online and social media promotion
Photograph and 3D Tour
Professional Photo would arouse the potential buyer’s interest and attract more bookings for showing.
3D tour would present the buyers with a better view of the place and may increase the efficiency by screening out the obviously mismatching buyers.
Your realtor will walk you through the details of the offer delivery method (in person or email).