Top 5 Questions

Asked by Sellers:

How long will it take for my house to sell once I put it on the market?

If it is priced properly and in great condition it should sell within 60 days. If it is older and/or needs work up 120 days. Effective marketing of your home is paramount however, and just having a listing will not ensure a sale.

Should I start looking for my new property right away??

We usually recommend waiting until the first offer before you start looking and not to put any unconditional offers until your property is sold with no conditions

Is there anyway I can protect myself while still looking as soon as I list??

Yes, there is a conditional clause called ‘Sale of Buyers Property', which specifies that the Buyers' (you) have a specified time period to sell your own property and keep your accepted offer to purchase on the table. However there is usually an escape clause which allows the Seller to find another Buyer while you attempt to sell your property, so you don't effectively take the property you want to buy of the market, it I more analogous to a item put on hold, which can still be sold off until full payment/commitment is made.

What does a Buyers Market mean to me??

It means choosing the right Realtor to work with is critical. You must market and price your home effectively to sell effectively and for top dollar in this marketplace.

Are prices dropping??

No. That is a myth perpetuated by left over inventory from new home starts and older houses in bad condition all over Toronto. There is a market correction taking place whereby overpriced properties are adjusting to realistic prices; and also where these overpriced new house starts have to price themselves back in the market as opposed to at the top of the market (which was commonplace when it was still a Sellers Market)

Please check back monthly as these questions will change as Seller FAQ's change!!