Selling a home becomes more expensive as bank interest rates have risen in Canada. In a real estate market plagued by low-interest rates, commissions paid to sellers’ listing agents have been one of the most rapidly increasing expenses.
Investing 5% to 7% of your home’s value in an agent is not ideal for everyone, especially if it means shelling out over $60,000 or $70,000 – an expensive fee if you’re selling your home for more than $1 million. It makes sense for these homeowners to sell their own homes without the help of an agent.
For instance, somebody who purchased a $ 750,000 house 6-8 months ago and needs to sell to relocate. They can’t do so because the market price has decreased by 20%. So if they approach a realtor, the commission would be around $ 42,000, then Financial Institution Penalty on a fixed mortgage loan may be around $ 60,000, and the house’s value today is $ 610,000.00. It means the home seller is under negative equity. Today value: CA$ 610,000 – 42,000 – 60,000 – Closing Cost $1,800 = $ 506,200.
The actual purchase was $ 750,000; now, the seller loses $ 243,800 in today’s market!
There are thousands of Canadians who sell their houses every year without equity. The process isn’t for everyone, but it isn’t complicated. In the same way, getting cash for your house can be a fast and accessible option with the chance of no loss. This process can offer you other advantages, like a commission-free deal and fast cash.
Selling a House without equity (Without a Real Estate Agent)
By selling your home to cash buyers, you will no longer need an agent and will no longer have to pay for their commissions. Additionally, you won’t have to pay any closing costs. The percentage of the selling price will not be the same if some agencies charge a 6% fee.
Furthermore, the cash buyers will not charge you a fee if you successfully sell your home. Upon settlement, you will have to pay what is owed to the mortgage lender. It will all be yours when you receive the cash!
All-cash offers: How we can help.
A cash offer can be enticing when selling a home without an equity or real estate agent since you don’t have to pay any commissions to the listing agent. Moreover, closings are often less time-consuming, which reduces the risk of buyer financing failing.
With us, you can sell your house for fast cash. By simply filling out the form and providing a few details about your home, you will be able to receive a realistic, no-obligation offer in minutes without the need for a listing, staging, or marketing effort. Simple as that!
If you are selling your house without equity in Canada contact https://www.webuyanyhousesca.com for a cash offer. You may not realize but you will be receiving a lot perks. Ensure you work with reputable companies like Ultimate Solutions LLC in Surrey or lower mainland when you sell a house. To ensure you’re doing business with a reputable company, you need to ensure they have the funds and reputation for completing the project as promised.
Name: Ultimate Solutions LLC
Address: 16511 Watson Drive, Surrey, British Columbia, Postal Code: V4N 6T7
Call & Text number: +1 778 744 4277
Email: [email protected] & [email protected]