How much cash can you receive for your Montreal home?
Looking to sell your home? This article will show you how much money you could receive for this one.
Real estate sellers often have questions about Montreal cash home buyers. They wonder how much money these people can give them. If you too would like to sell your home and are wondering how much you could receive for it, this article should help you find the answer.
An important distinction
Given that this article will be read by homeowners from all over Montreal (and surrounding areas), and that the price of a home varies greatly depending on its location, it’s difficult for us to give you a dollar figure. However, we can explain a concept that will help you understand the value of your property in the eyes of cash home buyers in Montreal.
Market value : When a house is sold “on the market”, it is generally advertised by a real estate agent and then, after receiving numerous potential buyers, sold when at least one of them has made an offer. Very often, homes sold on the market are sold for more or less the same amount as other similar properties sold in the neighborhood. It is therefore a sale “at market price”.
Off-market value : When a home is sold “off-market”, it is generally sold directly by the owner to the buyer, and not advertised publicly. Off-market homes are often sold for slightly less than the market price. It is therefore a sale “below market price”.
As you read this, you may be asking yourself: “But why would anyone accept less than market value (and therefore less money than others) for their Montreal home?
That’s an excellent question, but things aren’t quite that simple. There are other factors to consider:
- A market sale usually involves selling to someone who decides to move into the home. She bought the house for herself and her family. On the contrary, if you do an off-market sale, you’ll most likely sell to a company that invests in your property and turns it into a rental home or renovates it before reselling.
- A sale on the market generally implies that the buyer needs to be financed. In contrast, an off-market, private sale often involves the participation of a professional real estate purchasing company ready to buy your Montreal home for cash. (This is one of the reasons why some owners prefer to sell off-market: they don’t want to have to wait for the buyer to receive financing; they want to be sure and certain of selling quickly).
- In reality, a sale on the market costs money, sometimes a lot of money. If your home is in need of renovation, you’ll probably have to get it done before you can sell it on the market. On the other hand, if you sell it off-market to a company like Vendre Maison Vite, you can sell the house as is. You’ll save time, money and hassle.
- Selling on the market through an agent usually comes with commissions and fees to be paid to said agent in exchange for the efforts he has invested in selling your home. On the other hand, an off-market sale with a company like Vendre Maison Vite usually involves no commissions or fees, not even closing costs.
How much money could you get for your house? A market sale may enable you to sell at a higher price, but the process is longer and more costly. An off-market sale may mean selling your home for less than the market price, but the process is faster and involves no expenses or fees.
So, how much money can you, as a homeowner, receive by selling your home in Montreal? This varies according to the sales method used (on-market vs. off-market sales). As for him, the choice of which method to use depends on how quickly you want to sell and how much time and money you’re willing to invest before selling.
