shlammed

Anyone sold a house on their own before?

Privately?

Was it the biggest pain the *** ever?

If you didn't do it privately, what's a decent rate to pay an agent?

I'm thinking about selling my condo soon but not sure if it's worth it yet.

imported_Zyepher

You just bought it? Anywho One of my old nieghbors tried selling privately and it was on the table forever. The avg rate 2.5%

imported_JoonyaSI

when i sold my house we were gonna do it private but it will stay listed for wayy longer than if u got an agent ...

the biggest pain in the *** are all the legal fees u have to end up paying in the end ... closing fee.. selling feee.. diggin my *** fee ... it was a real pain ...


why are u sellin already tho .. u havent even been there for a year

Gallagher

let me know if you need an agent luka.

It sells alot quicker.

shlammed

It's been almost 6 months since my official closing date. Phase 2 is going on sale this spring. When I bought mine, it was one of the more expensive 1 bedroom units (views, infront of the park, all that bull****). The cheapest 1 bedroom units were on sale starting at around 20G's less then what I paid for mine.

Now, phase 2's CHEAPEST units are the same price as mine. I figure I could sell mine for at least 20-25G more then what I paid for it considering:

#1 If phase 2 cheapest units are the same price as mine, that means my unit in phase 2 is probably on sale for 20G's more then what I paid

#2 There were people lined up for a week to get a unit when I did. I lucked out and was on the waiting list when someone dropped out of the purchase. With that kind of demand, there are sure to be people who miss out on getting a unit and might walk over to me and buy mine for a little more instead

#3 I want to get a bigger place now.

civicnation

2.5% listing, 2.5% selling is standard
some agents negotiate listing commission but beware of the service you lose when you deal with someone that negotiates commission

shlammed

Hmmm...I wonder how much higher the price could possibly go. I mean, it's just a tiny 1 bedroom condo.

shlammed

one of the selling points though and maybe a reason why I might be able to get more money is because my condo fee is only $95/month.

imported_gatherer

but that condo fee is most likely to increase

shlammed

Not likely

They built another identical place 2 years ago in another part of mississauga and their fees actually went down a few bucks.

And even if it did go up, whats $95 a month?

Go live in a condo by square one and for the same size condo your fee would be more like $300/month to start.

cibs

yeah... all condo fees increase over time as the buiding gets older, more repairs etc...

maybe it went down for a bit but then that's only because they overcharged them in the first place...

I think if you really want to move out... and you think you can get 20g's more... then go for it... but remember out of all that comes commission etc etc...

and if your condo fee is low... the phase 2 development probably has a low condo fee also... not a huge selling point IMO..

shlammed

$95 to $88 was the change over 2 years...

shlammed

P.S. it's a condo-townhouse not a building

no elevators to repair, no pools to maintain, etc.

shlammed

Phase 2 will sellout in less than a day

imported_gatherer

Are the fees set by the builder or the condo association has the condo association taken over the maintence of the place... once they do the fees should go up.

shlammed

The condo association took over more then 6 months ago and the fee hasn't changed a penny.

ANGRMGMT

Hey if you need any information at all, I am a mortgage advisor, I might be able to give some assistance if needed.

imported_Aitchy

Wow, you guys have it at 2.5 there?? Is that with or without commission?

When I went to inquire about selling my semi detached house, I was quoted around 6%... But that was with commission and everything.

I would pay the extra and go through an agent if you were going to do it, I mean it will sell quicker, and there will be more people coming through and seeing it, compared to if you tried to sell it by yourself. Mind you, if it is in a popular area and you know it will sell quicker, then why not try it yourself maybe save yourself a few bucks!

imported_ERTW

if you have not lived there for a year, you will get hit by capital gains tax. wait the 6 months more to avoid it.

if you get 20G's more than what you paid, including any interest you paid on the mortgage so far, commision, legal fees, and capital gains tax, you might end up actually making very very little.

bbarbulo

iTrader: (2)

hahaha don't bother privately. pay the 5% and sell the house through an agent. I've sold 3 houses, there is just no point even trying privately... I mean, unless you plan to work the sale like a full time job... but if you are already employed, don't waste your time. also, real estate agents have connections to a huge network of buyers, lawyers, and finance people that will make the whole process a lot smoother.