Buying Or Selling Real Estate In Toronto?
The past few weeks have seen a balanced real estate resale housing market in the Greater Toronto Area and much of Canada, which typically favours buyers. What does that mean, and why?
Selling or buying in Toronto? Right now, buyers have a bit of an edge. Make it work for you!
Sellers
Sellers may have to work a little bit harder in the coming weeks in order to give buyers what they want because of the balanced market. It also means making sure that the price of a home is suitable for the market, not a bit higher than it should be to see if they can get a little more than it’s worth.
As a seller, working closely with a real estate agent during the process is most beneficial in a balanced market, because a properly staged and represented home is key in order to appeal the most to buyers. Being as accommodating as possible is also important, even going as far as to undergo home inspection and make those repairs yourself.
Buyers
Buyers are the lucky ones and will have more time to fully research the homes and neighbourhoods that are best for them, as well as make their purchase conditional on the results of a home inspection and obtaining proper financing for the value the home is appraised for. Buyers also have the room to make sure their own home is sold in time, and can make their offer to purchase conditional on their home being sold within a certain time frame.
While these options are always available for buyers and sellers to toy with, in this type of market the sellers are more likely to be happy to help you out with your request, giving the buyers the advantage.
So don’t hesitate to discuss your situation with your real estate agent, because they can explain to you where exactly you fit in and what your options are.
Buying Or Selling Real Estate In Toronto? is a post from: Toronto Real Estate Updates