When someone decides to sell their home in Toronto, one of the first steps they take is getting a real estate agent to represent them. However, owners have the option to sell their home on their own.
There are hundreds of properties for sale by owners in Toronto and buyers can benefit from purchasing them.
Home owners often increase the price of their homes to cover the commission that they normally would have to pay to an agent representing their property.
When they sell their house on their own they can afford to lower the price, especially if they are eager to sell. In other cases, the owner lists the house according to the going price in his/her neighbourhood and is able to pocket the money that would ordinarily go to the agent.
In other words, selling your own Toronto home can save you money.
How to Sell
There are numerous companies that now offer property owners the opportunity to advertise their homes for sale in Toronto including the popular www.propertyguys.com. Keep in mind that there is normally a small fee for this service.
Before you move forward with posting your home on-line, you should check out www.getsmarteraboutmoney.ca. This site addresses all the ins and outs of selling your own home. It goes as far as to test you on whether you are really prepared to take on the job.
There are ways to advertise the sale of your house for free. Some examples are listed below:
The more traditional ways of advertising direct sale homes are through your local newspapers, direct mail, by putting a sign on your lawn, and by word of mouth.
Whether you are the seller or the buyer, you will want to make sure that everything is legal for your Toronto home transaction. While the seller can put together his/her own contact with the buyer, a lawyer should be consulted.
There are a number of law offices in Toronto that are willing to work with people who want to sell their own homes. If you are not confident in drafting the agreement, the lawyer will handle that aspect as well.
An attorney will review the offer, identify and help correct any problems with the title, deal with deposits and review all documents pertaining to the selling of the home.
Real estate transactions can be complicated and you will want to avoid problems whether you are the buyer or seller.
Tips for Sellers
Selling your own home is a big undertaking so you want to make sure you haven’t left anything out. Here are a few tips to keep in mind if you plan on selling without a real estate agent:
- Invest in a home inspection report
- Offer flexible showing hours
- De-clutter your house so it looks spacious
- Get a qualified real estate lawyer
Tips for Buyers
If you are thinking about buying a direct sale house, you have to be protected as well.
- Make sure a home inspection is conducted to your satisfaction
- Compare the price to similar homes in the area
- Retain a good attorney
- Get pre-approved for a loan so the seller knows you are serious
- Get a title policy
Buyers of direct sale houses in Toronto benefit from being able to speak to the home owner face to face. Meeting the owners of the house will also give the potential buyer the chance to find out what the neighbourhood is like. Buying direct in Toronto also cuts out the middle man; saving the buyer time and energy.
It is easy to get attached to your home when you live in Toronto. Many residents who have sold their own homes have said that they like the process as a whole. It allows sellers to get to know the people who will be taking over their home.
For instance, it may bring them comfort to know that the new home owner is an avid gardener and will maintain the property or that the play-set in the backyard will be used by a house full of children.
When you do your research and are well organized, selling your own Toronto home or buying direct from a home owner can be a great experience. In many cases both sides walk away happy.