Cash house buyers in Ontario
Cash home buyers in Ontario offer an alternative way to sell a home, cottage, or condo quickly. When the traditional methods using a real estate agent don’t work, these individuals or businesses present an ideal solution. They have the cash on hand to buy the property. Mortgage Broker Store is one such company, and they focus on giving free consultations and quick purchase offers. With any cash home buyer, their goal is to rent or resell the property at a profit.
What is a cash home buyer?
Cash home buyers in Ontario present a fair market offer even if the property is in poor condition. These businesses make as-is offers which means sellers don’t need to make any warranties as to the fitness of the property. There are no upgrades or repairs needed to close the deal.
Selling a cottage, home, or condo in Ontario this way is an excellent alternative for property owners like the following:
- People who have stopped paying their mortgages and are facing eviction. That usually means they are in the middle of a foreclosure or power of sale. With the power of sale, the lender gets the right to sell the property. In a foreclosure, that same lender also obtains legal title or ownership.
- Other Ontario homeowners face insurmountable renovation and/or repair bills. For example, noted home improvement site HomeStars quotes the national average for a common asphalt roof at $4,750 with the low end being $2,000 and the high end costing $11,000. Thinking about an entire kitchen renovation? The average bill in Toronto is $15,998 with the high end reported at $50,000.
Looking to sell a home fast? It is easier when you understand local real estate trends.
About Ontario’s real estate trends
The Canadian Real Estate Association (CREA) recently reported that while residential sales fell YoY by 25.4 per cent for March 2022, the average price for a resale home in Ontario increased.
That number for March was $1,052,920. It represents a fair jump of 18.3 per cent from the same month in 2021.
New listings in Ontario were down by 10.7 per cent from March of 2021. The MLS systems of real estate boards in Ontario reported 39,772 new listings this month.
Looking to sell a home fast? Prices are still going up while the inventory of active listings is shrinking. They were down 35 per cent below the five-year average.
Cash home buyers are most interested in major Ontario cities such as Toronto, Oshawa, Brampton, and Mississauga. Homes in cities like these are exactly what cash home buyers are looking for.
The trends are pointing in the right direction if you’re looking to sell quickly. Here are a few more reasons this is a good idea.
Reasons to sell quickly to a cash buyer in Ontario
Homeowners can be evicted for not paying their property tax. Your municipality can eventually seize your property and sell it if you don’t pay for a long enough period.
Other property owners sell quickly when they’re in the middle of a divorce or separation.
What if the property is in poor condition?
Cash home buyers in Ontario make offers on properties in as-is condition. Got a wet basement or a leaky roof? The cash buyer takes on all the responsibilities and expenses to repair any issues. They might even make an offer on a property that’s unsafe to enter. Condo owners may also have issues with the condo corporation over the condition of their property. Selling your condo to a cash buyer is one way to clear these issues.
Cash buying process in Ontario
There are three simple steps involved in selling your home quickly.
- Contact a cash home buyer in Ontario. You can usually use an email address, a convenient online contact form, or the phone number provided.
- These companies will evaluate your property next and present you with a fair cash offer that’s around market value.
The payout comes after an arranged closing date that suits the seller. There’s no commission to pay or real estate agent to deal with.
Sell and rent back option
There’s an option for homeowners who would like to rent the property that just sold. This “sell and rent back option” allows people time to search for and buy another place.
The selling price and the home’s equity determine the rent. Finally, here’s how to contact a cash house buyer in Ontario to sell a house fast.
How to contact a cash house buyer in Ontario
Find them online or in print. In either medium, make sure the cash home buyer in Ontario has the money on hand.
Verify their real estate experience. Find out if they will explain your options.
This story was provided by Mortgage Broker Store for commercial purposes.