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I need to sell my Cambridge Ontario home fast – what are my options? Well, there are generally three recommended methods:
We've already discussed what the real cost of selling through a real estate agent is, but did you know that it could costs you thousands to sell your home through a Cambridge Ontario auction agent? While an auction may sound like the answer to your "Sell my home in Cambridge" pleas, that's not necessarily the case. Let's explore the costs associated with this popular selling alternative. Auction Quick Sales? Not So Fast! If you've done any research on property auctions, you've likely read some promotions that hail auctions as the perfect way to sell a Cambridge, Ontario property quickly. Websites and flyers describe auction sales as being a quick, convenient, and guaranteed way to sell property – but are these promotions telling the truth? While auctioneers insist that they can move your property quickly, they can't actually guarantee a sale. When a property is put on the auction block, the seller has the option of putting a reserve price on the bid. This means that in order to "sell my home in Cambridge Ontario" quickly, a bidder must meet the minimum price. If a bidder doesn't meet your minimum bid, not only are you still stuck with the property, but you're also out the $3,000 - $4,000 that it cost to host the auction in the first place... ouch! Does an Auction Offer More Bang for Your Buck? Not really. Auctioneers like to tell clients that the format of a live property auction lets bidders drive the price up. And while competitive bidding at a house auction for some types of property can achieve close to open market value, this is rarely the case. If the Cambridge, Ontario home that you're trying to sell is in a state of disrepair, chances of you receiving competitive bids are slim to none. What's more, an auctioneer cannot guarantee how many people will turn up for the auction sale – if only two people are present when your property comes up to the block, there won't be much competition, and any hope to "sell my home in Cambridge Ontario" will be gone. Fees, Fees, and More Fees! But the auctioneer said he could sell my home in Cambridge for a great price – is that still true? Maybe, but have you factored in the fees associated with selling through an auction house? Cambridge Ontario home sellers will have to pay two different types of fees when they place their property up for auction. First, they will need to pay entry fees. Entry fees are non-refundable. They are used to cover advertising for the sale. Entry fees can cost a Cambridge Ontario home seller several thousand dollars. The second fee that you'll be forced to pay if you sell your home in Cambridge Ontario via an auction is the commission fee. This typically costs between 1.5% and 3.0% of your final selling price. KWCPB, Help Me Sell My Home in Cambridge, Ontario Fast! The quickest way to sell your home in Cambridge, Ontario is through KWCPB. Contact our Cambridge Property Buyers today and sell your home fast! View More Articles from |
Table of Contents Real Cost of Real Estate Agents Beware of Property Buyer Imposters Become a First Time Buyer Again Top Six Things to Look for in a Contractor Top Six Reasons for Vendor Take Back Mortgages |
Sell my Home in Cambridge Ontario Fast: Auctions vs. Property Buyers