Homeowners in Sudbury have been pleased with the excellent state of the real estate market.
The city has witnessed a significant increase in home prices, which rose by 44% from 2021 to 2022, measured for sold homes between April 12 and May 10. This puts Sudbury in a better position than nearby cities like Markham, which has only a 10.2% yearly increase in home prices, and Vaughan, which had a small 2.7% increase from 2021 to 2022. Even Brampton had just an 18.1% increase in home prices from May 2021 to May 2022.
With a quarterly increase of 66.3%, if these numbers show anything, it’s that it’s a seller’s market in Sudbury.
Homeowners that are considering selling their houses, condos, or second homes can make a significant return on their investment. For many, cash offers are the most convenient option, especially for those that need to sell their homes fast. Even in a city with a hot housing market like Sudbury, it can take months to sell a home the traditional way. This makes it a challenge if you want to find a good offer quickly. In this article, you will learn:
- How to sell your property quickly in Sudbury
- What a cash buyer is and how to find them
- Advantages of cash offers
What Is a Cash Buyer?
Whether it’s a company or a person, a cash buyer buys homes for cash to resell them or rent them later on after some renovations. This in turn means that cash buyers aren’t as picky as ordinary buyers who need to see multiple homes so they can select one for their family to move into. Whether you have a home in the heart of Sudbury, the outskirts of Chelmsford, or near Val Caron, if you own the home, you can sell your fast if you work with a cash buyer.
For cash buyers, it’s business, not personal, so they look for homes to purchase as quickly as possible, making them ideal for homeowners who want to sell fast. A cash buyer doesn’t need to get bank approvals for a mortgage as an ordinary buyer would. So, the deal could be closed and you can walk away with the money within a week or two.
Where Can I Find Cash Buyers?
It depends whether you look for a local cash buyer working in specific areas or the entire city. Some work in busier neighbourhoods like New Sudbury or Downtown Sudbury as they have a more active housing market. Other cash buyers work all over Sudbury and would make you an offer regardless of location.
You just need to go online and do quick research to find companies that purchase homes for cash. Make sure they have good reviews and a proven track record of helping clients like you sell their homes quickly.
The Advantages of Selling to Cash Buyers
Smooth Process
As we mentioned earlier, a cash buyer doesn’t go through the same process as an ordinary buyer would. When you reach out to one, they will send an expert appraiser to view your house, and 24 hours later, you’ll get an offer. If you accept, you can walk away with the cash in a week or whenever works best for you. This makes the usually exhausting process of selling properties exponentially easier and it’s why many homeowners prefer cash buyers.
Another perk of dealing with cash buyers is the fact that you don’t need a real estate agent to negotiate with one. In other words, you’ll pay no commission and you’ll end up saving tens of thousands of dollars you would otherwise pay for the expertise of a realtor.
Buying ‘As-Is’
A fine example of the convenience that cash buyers offer is how they purchase a home ‘as-is’ in its current condition, no matter how bad it may be. If you’re selling to an ordinary buyer, you’ll most likely need to do some repairs to the home and give it a fresh coat of paint so it would look presentable for potential buyers. You’ll also have to have it thoroughly cleaned because the last thing any buyer wants is to view an unclean home with pests or mould.
This work takes time, effort, and money. With cash buyers, you can save all effort as they don’t care what condition your house is in. They’ll have it appraised, compare it to similar homes in your region and give you an offer nonetheless, so you won’t have to make repairs or even clean the place to get it sold.
Moving Flexibility
Cash buyers are more flexible than ordinary buyers particularly when it comes to the moving out date. If you’re selling your house or second home to a family, you’ll have a limited time to move out once you sign the contract so the new owners could move in.
This is not the case with cash buyers. They can not only help you sell your home fast for cash but also offer a ‘sell and rent back’ option that allows you to continue living in your home as a tenant. This gives you the time to find another home and you’ll have cash from the sale to put a down payment. Then, you can move out at your own pace with no rush.
No Location Restrictions
If you own a house or a second home in a lakeside town or a rural location like Espanola, Markstay-Warren, or even suburbs like Bell Grove, finding buyers might prove to be challenging. The more you get away from downtown Sudbury, or any city centre for that matter, the less active the housing market is. So, you can end up listing your house for months with no offers. This is where cash buyers can give you an edge.
You can reach out to one that works in your area, and they’ll make you an offer, even if the housing market in your location is a bit inactive. This way, you’ll sell your home fast and the cash buyer can use your home as a vacation rental or find another use for it.
Are Cash Buyers the Right Option for Me?
If you’re looking for the fastest way to sell your home without going through long bank processes, giving tens of thousands to a realtor, or fixing up your home, cash buyers are the most convenient option. If you want to get the highest value for your home, then you may want to look for an ordinary buyer. You might eventually wind up with a bidding war that could get a higher number than the market average. So, it all comes down to how fast you want to sell your home and what your priorities are.
For many homeowners that want to sell their homes fast in Sudbury, cash buyers offer a quick and convenient solution without the hassle of dealing with lenders. With a 44% increase from 2021 to 2022, there may not be a better time to sell your home in the city.
To learn more about cash buyers in Sudbury, call Mortgage Broker Store at 416-499-2122 or check the website here. We buy houses and condos for cash and can help you find what you’re looking for.