If you’re trying to sell your home, you may have realized that it’s harder than you thought. This is especially true if your home is in need of renovation and your potential buyers don’t want to deal with the work involved.
In this article, we present some of the devastating consequences of a financial recovery in Montreal for home sellers.
Montreal homebuyers have lots of property choices, but fewer financing options
The market is flooded with so many properties for sale. Given the state of the economy, some homes are selling at the same speed as they did 5 years ago, while others are selling quite quickly, as 3-bedroom, 2-bathroom homes at modest prices.
One of the reasons why there are few potential buyers in the region is that the standards guiding the lending of money have changed in the wake of the last economic crisis. In fact, there are still a good number of foreclosed properties in Montreal being advertised by banks every month, and buyers are less enthusiastic since they’ve discovered that owning a property isn’t enough to make a 3% annual profit.
If you’re trying to sell in today’s market, you may be discouraged. You may also be wondering how to sell a Montreal home quickly.
If you feel you’ve spent a lot on renovations and upgrades (or if you don’t have the budget to fix what’s broken), but are still having trouble
selling your Montreal home
you’re not alone. A buyer’s market is not easy to conquer. No one likes to see their home scrutinized, criticized or undervalued, but that’s exactly what many sellers have to endure these days.
Worse still, considering the devastating consequences that a financial recovery in Montreal could have, some homeowners are receiving few, if any, offers on their properties, and find themselves having to wait several months before finding a reasonable buyer.
How finance takeovers have contributed to lower prices
When the real estate market plummeted and financial repossessions began to be executed, the Montreal real estate market was flooded. This means there are plenty of properties for sale. When such a situation arises, house prices automatically fall, as there are other (more affordable) options available to buyers.
When there are more homes for sale than buyers, homes lose their value.
At present, it’s not clear whether the financial takeovers will soon come to an end. There seem to be several foreclosed homes in and around Montreal, and the banks haven’t yet listed them all for sale.
Fortunately, there are a number of steps you can take to help sell your home.
Selling a home in a market where financial repossessions are plentiful
If you’re looking to sell a home right now (or need to), you have two options:
- If you don’t need to sell your house fast and you can afford to wait for the market to recover, find a good agent and team up with him or her. If you don’t need to sell your home fast and can afford to pay a real estate agent’s commission, your best option is to wait for the market to settle down and find the perfect buyer who will offer you the price you expect. The market can only get better. If you’re able to wait a year before selling, you’ll be able to put a few extra dollars in your pocket, since you’ll be able to sell for more then. An excellent real estate agent will help you advertise and promote your property. If you don’t know any good agents in the area, contact our team, and we’ll refer you to excellent real estate agents who can help you sell quickly. Send us an e-mail by clicking here and you’ll receive referrals from excellent real estate agents in the Montreal area.
- If you need to sell your house fast, look for a way to sell fast, like selling directly to our team. Selling a home in a market like this can be difficult if you go through a real estate agent and don’t want to sell at a knock-down price. In addition to the losses caused by the price drop, you’ll also have to pay commissions to your real estate agent… so you’ll have to spend a lot of money. Fortunately, you have another option: You can sell your home directly to a real estate investment company like Vendre Maison Vite. We buy houses in Montreal. We can make you a cash offer in just 24 hours, and we’ll pay you good money for your home! We do not seek to advertise your home on the market. Instead, our team will buy your home outright, then take care of the work and cleaning. She will invest time, money and knowledge in order to succeed in renting or selling the property. In this scenario, everyone wins. If you want to receive the full price for your home, we won’t be able to offer it. We need a certain discount to make a profit,
but you won’t have to pay any fees or commissions
.
Contact our team to sell your Montreal, Quebec home quickly… even in today’s market.
If you have any questions about our Montreal home buying service, you can contact us at any time.
Call 514-320-1000 or write to us via our contact page using the link below.
If you would like to receive a cash offer for your home today, click on the link below and fill in our form. We’ll make you an offer shortly!
