If you own a house or condo in Toronto, then you have a valuable asset. Toronto is one of North America’s fastest-growing cities, with a vibrant economy and some of Canada’s most prestigious colleges and universities, it is the most popular destination for new immigrants to Canada.
These factors have made homes in Toronto real estate a hot commodity. Toronto homes have grown by over 430% in the 25 years from 1996 to 2021, and look to only continue appreciating as time goes on.
While Toronto is a great place to live, there are many reasons why someone may want to sell their home in a short period of time.
Reasons Why Homeowners in Toronto May Need to Sell Their Homes Fast
While owning a home in Toronto has many advantages, it is also the most expensive place to live in Canada.
With inflation rising to nearly 7% in November 2022, the cost of living in the city is only getting worse. Alongside that, Torontonians are loaded with debt, with the average city dweller owning creditors over $20,000. For homeowners struggling to manage large debts, selling their homes in Toronto may be the only way they will be able to pay them off.
Sometimes, it may not be existing debt, but the risk of future debt may lead some homeowners to sell their property quickly. Many who decide to sell their home fast have inherited a property they can’t afford, so they choose to sell it as quickly as possible to avoid the costs needed to maintain the property.
There are other reasons why someone may want to sell their home fast that are not financial in nature. A couple going through divorce proceedings will often try to sell their home fast so they can move out. They may also want to sell their home fast as part of separating their assets, something needed in order to quickly move on with their lives.
Here are the top 10 low-cost tricks you need to sell your home fast in Toronto
- Clean your home
- Declutter/depersonalize
- Clean up the yard
- Make needed repairs
- Upgrade the kitchen
- Upgrade the flooring
- Stage Your home
- Take High-quality photos
- List your home on real estate websites
- Find a reputable cash home buyer in Toronto
When you work with a cash home buyer there is no need to make any repairs, clean or declutter. Cash home buyers often specialize in flipping homes. They have no restrictions for homes that are in various states of disrepair, as they will make any needed repairs and renovations once the sale is completed. This saves you all the time and money required to make your home pristine and spotless for ordinary buyers.
Working with a cash home buyer is the fastest way to sell your home in Toronto. From the initial consultation to getting your home appraised before receiving their offer to buy your property, you can get cash for your home in as little as 1-2 weeks.
The speed at which you can sell your home to a cash home buyer is unmatched in Canada’s real estate industry. Even the best realtors in the Greater Toronto Area (GTA) cannot guarantee that they can sell your home within a few weeks. Even in highly desirable real estate markets like Toronto, Markham or Mississauga, most houses take over a month to get sold, with condos and townhouses taking even longer.
Torontonians who need to sell their homes fast may not be able to afford to wait weeks or months to find someone willing to move into their home, instead, they can get their homes sold in a fraction of the time if they work with a cash home buyer.
When you sell your home through a realtor you will need to pay the realtor’s commission. The standard rate is equal to 2-7 percent of the total value of your home.
Cash home buyers want to work with homeowners to buy their houses and condos in Toronto, as such, they do not charge any sort of commissions or fees that realtors do, their offer may be slightly below market value, but you will keep 100% of the proceeds from the sale.
Where to Find Cash Home Buyers in Toronto
Working with a cash home buyer is one of the best tricks for selling your home quickly.
Time is money, and with cash home buyers, you can keep fees low and speed up the entire process. You save weeks to months worth of time by working with a cash home buyer, and you save the costs of realtor commissions, home staging, storing personal items, cleaning the property, making repairs as well as property maintenance and upkeep.
You can find cash buyers in your area by going online and searching for terms like ‘companies that buy houses for cash’ or ‘cash home buyers in Toronto’ to find their websites. When comparing different cash home buyers, you want to make sure that any you consider have lots of experience working in Ontario’s real estate industry. You should be able to ask them as many questions as you want, and they should answer them clearly and with patience.
Once you speak with a few different buyers you can decide which one is best for your needs.
If you need to sell your home fast, you likely don’t have much free time on your hands, so you may not be able to spend hours canvassing different cash buyers.
The good thing is you can speak directly with a cash home buyer in Toronto when you can contact Mortgage Broker Store. As an active cash home buyer in Toronto and across Ontario for over a decade, we have helped hundreds sell their houses and condos for fast cash. If you want to sell your home fast in Toronto, we can send our appraiser to your home and give you our offer within days. We can give you flexible options when selling your home, and pay you in cash.
If you want to get a sense of how much you can get from selling your home to a cash home buyer, speak with our team to learn more.
With our help, you can make an informed decision when trying to sell your home fast. when you contact Mortgage Broker Store. As a cash home buyer and mortgage broker, we can help you fully explore your options and provide expert advice.
References:
12 Low-Cost Tricks to Help You Sell Your Home Fast (bhg.com)
Sell Your House Fast In Toronto | We Buy Houses For Cash (homeflippers.ca)