How to Sell a House in Canada

In Canada houses can sell within 90 days. It is very rare that a house will remain in the housing inventory for any longer than three months. Having a house in Canada is a reasonable investment. The average home can sell for $157,000 to $549,000. These are single-family homes that have three to four bedrooms and two bathrooms. There is always someone interested in buying a house which makes it a seller's market.

Difficulty: Moderately Easy

Instructions

1. Hire a contractor. The contractor should be a member of the Home Builders Association since this they hold a good reputation in Canada. You have guarantees that the contractor will not run off with your money and they will finish the job properly.

2. Decide if you want to hire a lawyer or a real estate agent. If you have a lawyer then they can help you with the legalities of the transaction as well as be there during closing in order to represent you as the seller. You will be responsible for selling the home on your own. The lawyer will only be there for the legal aspect. Therefore, you will need to advertise by putting an ad in the local paper and by putting the for sale sign out on the front lawn. Be sure to include a photo of your house in the ads you post and it isn't necessary to pay expensive ads. Canada has a steady housing market and you should be able to sell your home within 90 days. If you hire an agent then be prepared to pay a 5 percent commission.

3. Get listed on the MLS listing. In Canada they offer a listing called Multiple Listing Service which was created by Canada's Real Estate Association. It allows real estate agents accessibility to put homes up for sale in order for it to reach more people and sell faster. If you are selling on your own but cannot sell the house within 90 days you will want to hire a discount broker who charges less than 5 percent commission. This broker will be able to put your house on the MLS listing for a quick sale. You will need to fill out a Property Disclosure Statement for the MLS listing. This will describe any possible defects and/or debts against the house.

4. Show the home by appointment only. First impressions are very important and you will need to be prepared when someone is coming to take a look at the house.

5. Analyze several offers from buyers. Don't reject one since it doesn't seem as high as another. You will want to discuss with different buyers what they may request to be done before they decide to buy. Do not accept an offer if it is high but they want you to repair several areas of the home that wouldn't be worth the cost to you. This is where the lawyer or agent can come in handy. They can offer advice to which offer may be the best for you.

Tips & Warnings

• If you are your own real estate agent then you can request at closing 50 percent of the commission that is typically given to the buyer and seller's agents.