It’s no secret that selling a home is one of the most stressful things you can do. This is especially true if you’re under pressure and need to sell fast. To help you navigate this bumpy road, we’ve written this article outlining the different sales methods that can be used to sell a home in Montreal. 

Explore all the possibilities when it comes to selling your Montreal property

With a real estate agent

The traditional method of selling real estate in Montreal is with an agent. Estate agents are professionals who are paid a percentage of the sale price, and sometimes other additional fees charged by them or their agency. The price you can ask for your property depends largely on the current state of the market.

To sell in this way, you’ll first have to renovate and take care of the details before waiting patiently for a serious buyer to come along. He or she will most likely ask to inspect the property and may require additional renovations before signing a contract. You will then have to enter into discussions with the bank and wait for a mortgage to be granted to your buyer. Unfortunately, the bank may refuse to lend to your buyer, so you’ll have to start all over again.

With a real estate professional

Real estate professionals often buy homes for cash. This means they can quickly close a sale in Montreal. Usually, the house is sold as is. So you won’t have to spend a lot of money or time preparing your property. Selling as is also means avoiding the risk of being sued for hidden defects.

Professional real estate buyers take on more risk, pay promptly in cash and take care of closing costs. For all these reasons, the amount they offer for a property is, as a rule, lower than what you could possibly get on the traditional market by selling yourself or with the help of an agent. Unfortunately, some dishonest buyers may try to use the information you give them to their advantage, so be careful when choosing who you do business with. At Vendre Maison Vite, we only make fair and well-considered offers. If you would like to receive a fair, no-obligation offer for your property, please contact us by clicking on the link at the bottom of the page.

Myself

Selling your Montreal home yourself is a very attractive option, as it allows the seller to be in complete control of everything involved. What’s more, when you sell yourself, you don’t have to pay any service fees to agents or professional auctioneers. So, if you have a good legal knowledge of advertising and how to read and write contracts, you could save yourself a good deal of money! On the other hand, if you’re selling your property yourself, a simple misstep could have serious financial and legal consequences for your life. 

Exposed

In some cases, you can only sell your property for less than the amount owed on your mortgage. This is only possible if you can reach an agreement with your mortgage lender. Note that selling short means taking part in a long and tedious process with your bank. If you’re in a hurry to sell, this isn’t the best option for you. 

Auction

By selling your property at auction, you’ll save yourself a lot of headaches caused by the incessant calls and visits you have to politely accept when selling on the traditional Montreal market. What’s more, you’ll be able to close the sale of your home quickly and leave it untouched for the buyer. That way, you won’t have to spend time and money on renovations and maintenance.

However, the service fee charged by an auctioneer could amount to 10% of the sale price. Most auctioneers ask buyers to pay their wages. It sounds great, since you’re the seller, but it could actually hurt you. Indeed, buyers often bid relatively low in an attempt to avoid the auctioneer’s high fees. Have a good discussion with your auctioneer to find out in advance what the costs will be and who will have to pay them. If you’re responsible for this, it could take a significant chunk out of your profits. Finally, the main disadvantage of an auction is uncertainty. In fact, you’ll have no idea whether the bids you receive will be very high or very low until the day of the sale. If, by misfortune, few buyers show up at auction that day, or if there are many properties for sale simultaneously, this will affect your profits negatively and it will be too late to turn back.

If you’d like to know more about these different possibilities and how to get the selling process started quickly in Montreal, contact the Vendre Maison Vite team by calling 514-320-1000, or send us a message today!
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