Want to sell your house in Calgary fast? Given the real estate market in this Canadian city, you can close the deal quite quickly. Statistics say that the percentage of Calgary houses sold increased by 26.4% in July 2021 from the previous year.
For buying a house in Calgary, you will find several entities. The city’s economy includes financial services, energy, transportation and logistics, film and television, retail, and more. Therefore, you will not have a shortage of buyers. Yet, if you need quick money for any reason, you may have to sell your house fast.
Here are some ways to sell your home quickly.
1 – Get the best real estate agent in your area
If you already know a real estate agent nearby, there is nothing like it. You may search on the Internet or talk to friends who have sold houses through them before.
For buyers who come through these agents, you have to stage up your home and repair the building if needed. When you hire these agents, you have to pay them a certain amount as commission.
2 – Sell your house to a cash buyer
Banks are not involved when real estate transactions happen in cash, and neither are the traditional underwriting obstacles. Cash buyers are often real estate investors who buy houses in any condition with cash, fix them up and flip them. The process is fast as you do not have to list your property anywhere or wait for a customer to like your house.
You may look for a company on the Internet interested in buying a house in Calgary by typing ‘sell my home in Calgary’ into your preferred search engine.
3 – Opt for a short sale
If the debt on your property is higher than its value, your property is a distressed one. Such issues become more complicated on the death of a spouse, divorce, bankruptcy, and other financial issues.
If your bank threatens you with foreclosure, you can request a short sale. You have to make sure that all the lienholders agree to the sale. If you have one mortgage, the chances of a short sale are better.
For this, get in touch with the largest mortgage holder, i.e., the primary note holder and the bank, and let them know about your condition. Then do all the things the bank suggests. It is a little embarrassing but much better than a foreclosure and being evicted from your home.
4 – Transfer the mortgage
In July 2021, homes in Calgary got sold 27.5 % faster than in July last year. The reason was the tendency of many homeowners to transfer their mortgage to another person. But, to avail of the facility, read your mortgage documents to ensure that the property is assumable by someone else. The bank will make sure that the borrower qualifies for the mortgage.
Home selling involves handling a lot of stress and making several crucial decisions. Going by the current record, Calgary is indeed a seller’s market. Nonetheless, consider your situation and pick the option that’s best suited for your needs.