The first Canadian real estate board originated in Vancouver in 1888 when a commercial hotel was worth $600. But before there were real estate agents, self-directed buying and selling of buildings was normal. Today it’s still a choice, but there is also an easier alternative to DIY house selling.
Suppose you are looking at alternative ways to sell your home in the London, St. Thomas, Sarnia, Kitchener, Windsor areas, or anywhere in Western, Eastern, or North Eastern Ontario. In that case, you may find that many willing companies try to educate people about selling their houses on their own. After all, it’s dead easy with house sales currently so strong, right?
Helpful tips are known by rote: preparing your home for sale, organizing for open houses, and keeping your home tidy. Advice is practical, but self-directing a money deal involving the highest dollar figure you will likely ever engage in is daunting, and a first-time seller can quadruple that feeling.
During your DIY house-sale you will need to:
- Answer questions from potential buyers, especially about your outdated home systems (wiring, HVAC, and plumbing), house foundation, the deck construction, or roofing matters, all topics that can leave you flustered and stressed and that may affect negotiations. It is illegal to hide unsafe conditions, which means a buyer can sue you if it is clear that an attempt was made to hide an issue.
- Research the prices of sold houses in your neighbourhood.
- Market the sale of your house, which means uploading a listing to the Multiple Listing Service (MLS®), obtaining signs and listing it on other ‘for sale by owner’ platforms.
- There is also the little matter of sales ability, the reason there is a whole separate vocation called Sales. If you’ve ever sold anything online, you are aware of the fun of that ballgame.
- Have homeowners insurance if a potential buyer has an accident and decides to sue you for damages.
- Set a strategic price. I once sold a collectable chair online, but I didn’t know it was collectable. I listed it at a low price and experienced incredible stress during the hundreds of offers, upsets, and juggling when I chose to ride the wave of playing for the highest price. It was traumatic. Whether it’s a seller’s market or not, a lack of experience can create a very unpleasant episode.
- Expect to pay commission to the real estate agent acting on behalf of a buyer.
- Create professional photos and videos.
- Be prepared for balancing possible buyer contingents requirements such as their house needed to sell first or concerns with unqualified buyers.
- Understand the mortgage process.
- Decide whether you will stage the house or put crowded items into storage.
If doing anything well requires practice, how would your first house sale on your own likely go? The answer is probably, not as well as it could.
“Most people will not take on a DIY house sale. However, there is a hybrid solution; one that combines the financial bonuses of a private sale, the assurance of an experienced professional, and the ease of a Saturday afternoon.”
Selling your house to DCI Properties, a long-established private home buyer company, is an easy, safe, legal, and pleasant experience. In our next article, the ease of selling your house to DCI Properties will be detailed.
How to Sell a House to a Private Home Buyer (or Real Estate Investor) for ‘Cash’
In our article, ‘How Do I Sell My Own Home?’ we talk about different ways of selling your house, including a self-directed, DIY house sale. Selling a house on your own is tied up in a pretty steep learning curve that makes most people not want to go that route.
There are DIYers, and there are people who find comfort in leaving the entirety of the house selling process in the hands of a real estate agency. However, everyone’s circumstances are different, so new professionals have stepped forward to offer another alternative.
Private home buyers (also known as real estate investors) accommodate those who haven’t the inclination or time to follow the necessary steps to sell their home through a real estate agency.
DCI Properties was started by Ryan DeLaurentis in London, ON, back in 2015. Read more about Ryan, Courtenay, and their close-knit team here; their connections made in the community, and their incredible client testimonials.
What do Private Home Buyers (Real Estate Investors) Do With The Houses They Purchase?
What if your house looks, possibly, not as good as it should and you need to sell it? Surely there is someone who will buy it? Private home buyers like DCI Properties are always looking for homes to buy. Of course, we want the same things as any other buyer wants, but the difference between a private home buyer and a typical buyer is that we are not nervous about taking on any sort of project.
Because we have a mobile team, we are able to easily come to you, no matter in what part of the country you are. Either through Zoom or in person, your location does not matter.
If we purchase your home, it is routinely renovated and rented to someone.
How do I Know a Private Home Buyer (Real Estate Investor) is Offering me the Best Price?
When selling your home to a private home buyer you will first be asked questions about your property. This gives DCI Properties an opportunity to decide what we can pay you for your home. By identifying the costs needed to consider to renovate a home, then establishing the prices of homes sold in the neighbourhood, we have been able to purchase many clients’ homes for a price that makes everyone happy.
What are the Fees to Sell a Home on My Own?
Having a business is about making money. DCI Properties readily acknowledges that we must be able to make a profit on a home that we purchase. We factor in plans to renovate so we have to leave room for the unknowns. And there are always unknowns. What if you want to try selling your home yourself? How does that process work? Are there companies that provide help for a DIY home seller?
It’s helpful to think about the cost of your time, behind the various ways of selling a home. When you decide to list your home on your own, you need to weigh how quickly you will likely sell versus the interest on the money you are losing by not selling it right away. All scenarios are part of the final equation. Available to the DIY home seller are companies that help with marketing and provide you with lawn signs. Fees can start low. However, they too are a business, and you will be offered higher-performing packages on your journey.
What is the Difference Between a Private Home Buyer Versus a Real Estate Agent?
The phrase ‘It’s like comparing apples and oranges” has been around for more than one hundred years. You usually think of real estate agents when thinking of selling your home and the phrase real estate investor can therefore be confusing.
DCI Properties of Ontario is a Private Home Buyer, a better definition.
We buy your home, renovate it, and rent it to retain ownership, and so, the term investor is used. Together, we determine a set price and that will be the only transaction other than you paying out your mortgage to your lender. It is all legally written up by your lawyer.
In contrast, a real estate agent pays a portion of their commission from the sale of your home to a brokerage for which they work, and a ‘for sale by owner’ company charges you quite a bit of money for using their marketing and managing services.
How Long Does it Take to Sell a Home on Your Own?
How long it takes to sell a home on your own is determined by a few parameters and scenarios. Our Canadian government website outlines some helpful topics for generally selling your home. How attractive and solid your home is to buyers, how wide a reach the marketing is for the sale, your willingness to accept conditions of the buyer’s like their home selling prior to purchasing yours, or waiting for a mortgage or home inspection approval will all affect how quickly your house will sell.
If selling in a strong market and you use a real estate agent with access to a large network of buyers, it is likely your house will sell within two months or less.
DCI Properties is a Private Home Buyer that has a fast turnaround option available to you. As long as you are ready to move (and we offer you alternative housing and storage ideas if you aren’t ready to purchase another house but need to sell) the process can take as little as 10 days.
Three Benefits of Using a Real Estate Investor, or Private Home Buyer versus For Sale by Owner
If you think of yourself as an outlier, someone who does things your own way, there’s is a good chance you may choose to use Private Home Buyers (sometimes called real estate investors) or consider the route of For Sale By Owner. They are the current alternatives to selling through a real estate agency (or brokerage).
The Top Three Reasons to Use a Private Home Buyer:
- You, essentially. need to do nothing to sell your home to the private home buyer. Just pick up the phone and let them see the house, as is.
- You will feel very little stress lasting for the time you wonder what you may be offered until the time afterward while you weigh whether or not to accept the offer. When selling your home yourself you may feel stress after each potential buyer has viewed your home and throughout all the negotiations associated.
- You do not need to learn how to do anything new or spend valuable time learning a new process and preparing your home in the world of ‘For Sale by Owner’
How to Sell Your Parent’s Home From Another Province
Most of us reach a time when our responsibilities turn to our parents and their living arrangements which may include selling the family home. Or, you may need to sell a property that you don’t have time to keep up.
You may also be living on another continent or in another province. The solution that will save you time and effort is to contact DCI Properties. With our mobile team, we can go anywhere to see your property or have an associate within the property’s province. We provide a happy solution for all parties concerned. Please call our friendly staff at the number below to get started.
Can I Change My Mind When Using a Private Home Buyer (Real Estate Investor)?
Ryan and Courtenay have been buying people’s homes they are selling since 2015. In that time, we’ve learned a lot about making connections and ensuring our process puts you at ease.
There is nothing to sign until you are confident you want to accept our offer for your home.
Until you sign our agreement, you are welcome to consider any other offers and processes. The signed contract and its clearly described terms go to your lawyer as a legal document, but with all things lawful, there are several days during which you can still change your mind. See our services page for more information.