Sell your house privately in Ontario and save on realtor commissions. It sounds like a breeze.
Is listing a house for sale by owner a good idea? Sellers say yes. Aside from the hassle of marketing your own home and arranging viewings, selling your house privately gets positive reviews. Sellers cite the ability to lower the price, and not having to change realtors if it doesn’t go well, as pluses of selling your house privately.
Sure, you have to do your own negotiating (those contract terms and conditions can trip you up), and your home may sell for less. A National Association of Realtors survey found selling your house privately could lower your profits by 15%, minus the commission savings.
If you’re up for the challenge, read on.
How to Sell Your House Privately in Ontario
Top 6 best practices when you sell your house privately.
1. Decide Your Home’s Value
First, figure out your home’s worth. You can ask a real estate agent, buy an appraisal, or view homes for sale near you on any number of public websites, some of which exclusively profile for sale by owner homes.
You can find the sale of a property that seems comparable to yours by searching real estate websites online. Or, look for sold signs in your neighborhood and check sold prices on the Internet. Documents home buyers make ask for.
Talk about cheap! Smooth Rock Falls made the news in 2017 by offering municipal lots at a 90% discount. Read their story.
2. Stage Your Home
Buy home staging services or glam it up yourself. A clean, uncluttered home and manicured yard create great first impressions when you sell your house privately. Paint worn-out interiors or exteriors. Repair stair rails and decks. Move furniture, toys, and books to storage. Clean carpets, drapes, and grout. A sparkling bathroom and kitchen can seal the deal when buying a home. Do you have to disclose asbestos when selling a house in Ontario?
3. List It
Flat fee listing services charge around $500 to sell your house privately on REALTOR.ca and MLS. That lets buyers and real estate agents view your property details and photos. Be aware that a buyer’s agent will charge you a 2% – 2.5% commission to bring you a suitable buyer.
You can also pay a flat fee (based on your home’s value and location) for online marketing without an MLS listing. Facebook and Craigslist are free, but keep your address and personal information private. You’ll need top-notch photos to entice buyers. Can a seller keep the buyers’ deposit?
4. Take Your Time
You could save money when you sell your house privately, but showing your own home takes time. For sale by owner, sales can save you money but do take some time. Showing your home can take quite a bit of time. Free up your day. Answer phone calls and emails quickly and have facts at your fingertips. If it’s all too much for you, hire a professional realtor to give you a hand. Warning signs you could be at risk of mortgage fraud.
5. Get Real
The sale’s the thing. Don’t fuss too much about negative comments. Everyone’s looking for a deal when they’re buying a home. If buyers are really turned off, fix the problem or rethink your price. Can a buyer back out of a purchase agreement in Ontario?
The best site for a property sale in Ontario may be a smaller city a few hours from major centers. See Best Places to Buy Cheap Properties in Ontario.
6. Hire Axess Law
You’ve found a buyer. Congratulations! You’ll need a real estate lawyer to close the deal. It’s the law in Ontario.
Your Axess Law real estate lawyer can:
- Draft or review your agreement of purchase and sale
- Search title
- Discharge liens and mortgages
- Explain tenants’ rights
- Prepare closing paperwork
- Protect you from scams or lawsuits.
We’re open 7 days a week and close homes all across Ontario. Contact us for an instant quote when you need a real estate lawyer.
Why You Need a Real Estate Lawyer
Whether you hire an Ontario realtor or sell your house privately, you’ll need a real estate lawyer to finalize the transaction. Axess Law has a remote real estate attorney near you to review agreements of purchase and sale and advise you on how to preserve your right to withdraw your acceptance or potentially keep the buyer’s deposit.
Handshake agreements to sell major investments like real estate may be legally binding, but you need to get real estate offers in writing to enforce your rights as a seller. Axess Law’s professional legal team drafts standard legal forms you need to complete a property sale on time. We ensure you have the legal documents you require to transfer ownership to your buyer.
You could get a real estate agent to amend the agreement of purchase and sale if you or a buyer change your mind. Using a licensed real estate lawyer ensures the amended agreement is legally valid, and that you understand how new terms or conditions the buyer includes will affect your ability to close the deal.
Using real estate agents to get advice on offers to purchase can cost you dearly. While realtors can help you change the terms and conditions of an agreement of purchase and sale, only legal advice from a licensed lawyer protects you if a buyer changes their mind. Buyers’ right to inspect your home after they make an offer.
We search the title of the property you own and advise you if construction liens or financial claims are holding up your ability to sell your home or land. Legally married spouses have to consent to the sale of a matrimonial home. Axess Law ensures you have spousal consent to sell.
Affordable Legal Services for Assumable Mortgages
Access lawyers for less in Greater Toronto Area, Ottawa, or anywhere in Ontario when you buy, sell, or transfer property. Axess Law’s flat-fee real estate lawyers are affordable, and our rates are all-inclusive (excluding taxes, disbursements, and third-party charges). Axess Law offers you only the legal services you absolutely need. Your final invoice includes no surprises or hidden charges. Your itemized statement of adjustments is explained when we deliver it, and we answer any questions you have about it.
Find real estate attorney fees for sale by owner properties.
Virtual Law Services for Less
Axess Law’s virtual real estate lawyers can video conference with you anywhere in Ontario. You can talk to a lawyer from your home or office, using any computer or compatible mobile device. Our video conferencing services are secure and confidential. If you’ve never used virtual video conferencing software before, we show you how. You can sign legal documents remotely, or drop into any Axess Law office in the Greater Toronto Area or Ottawa to finalize your real estate purchase or sale.
Use a remote real estate lawyer.
Make Online Virtual Appointments or Call Us Today
Arrange convenient day or evening lawyer appointments using our easy online web form. Axess Law closes real estate transactions 7 days a week. Dial our 647-479-0118 lawyer line directly, or call toll-free at 1-877-402-4207. Axess Law has offices near you in Greater Toronto Area and Ottawa, with onsite parking and easy transit access.