Frequently Asked Questions (FAQs)
Whether you are thinking of buying a new Toronto property or selling the one you already own, you will likely have plenty of questions about the entire process. This can include deciding on the valuation, your target market and the appropriate advertising strategies, repairs to apply, plus all the budgeting and paperwork that guarantee a seamless completion.
We have compiled some of the most frequently asked questions about property buying and selling in Toronto. This list is pretty comprehensive, but if you don’t find exactly what you’re looking for below, feel free to get in touch via our contact form or call/email us at 647-250-0025.
Realtors list properties for sale on various platforms in the hope of finding a buyer through such channels. On average, it takes six months to a year for a real estate agent to close a deal on your home, and he/she will be charging a commission of 3 to 6% of the total contract price. This means that if you sell your property for $1 million, $3,000 to $6,000 of this amount will go to the agent. At True House Buyer we do not list your home. We are the ones who are purchasing it, and we will pay you in cash. Also, you don’t need to wait months to a year to get your money. We can pay you the agreed amount in full within days.
We buy Toronto houses upfront. We are not realtors so we don’t list your property on the MLS. Once we own your property, we then repair and renovate it where we see fit to
either keep it as a rental investment or resell it to another aspiring homeowner.
We’re very transparent with your pricing system, and the process is pretty straightforward. We visit your property in person, check if there are repairs that need to be done, find out the market price of similar homes in the neighbourhood, and then set our offer from there. As you very well know, real estate prices can go up and down depending on the state of the market and the season, so these factors are also taken into consideration. You can rest assured that the price we will propose for your home is the fairest and best in the market.
We don’t. Once we’ve finished evaluating your property and find that it fits our buying criteria, we will make a fair all-cash offer for it. We will not charge you anything for doing so, nor would we ask for commissions. Even the closing costs are on our tab. It’s a zero-hassle transaction. If you’re wondering how to make money, we make it from the resale of the upgraded property if and when we decide to sell it in the future. The moment we purchase your home from you, the rest is all on us. You get your cash and can freely walk away without any arrears.
No, there is zero obligation to accept our offer. When you give us information about your home, we use that info to evaluate the property and see if it is a fit for our company and to find out how much we can pay for it. The decision of whether or not to accept our offer is 100% up to you. We won’t pressure you into agreeing to anything.
Generally, we purchase homes that are off the market, which means they are not listed anywhere (or has been terminated from the MLS system). However, we might still consider buying your home if the following are met: 1) you have removed your listing or already paid off your agent, and 2) your property has been listed for at least a month and you want to get out of the open market. While you might need to pay your agent for his/her fees, the good news is that you won’t need to shell out any more money when you switch to True House Buyer
Absolutely, yes. We don’t pay using a sack of bills, though. We do it via wire transfer or bank draft. By paying all cash, what we mean is that the transaction is not dependent on traditional lenders or any bank financing plans. When you have agreed to our proposal, our agreement is solid and you will get the money from your lawyer upon closing.
We are not appraisers. We buy houses in cash. If such is the case, we recommend hiring a licensed third-party property evaluator to assess your property’s current value.
You can start by either calling us at 647-250-0025 or filling out the contact form on our website. Send us the pertinent information about your property and, if it meets our basic criteria, we will immediately get back to you to set up a house visit. Our in-house evaluator will come to you personally to view home. After which, he/she will report back to our office where we will decide on how much to offer in cash. If you accept our offer, the house is as good as sold. We then proceed to the paperwork and other legal requirements to close the sale properly. It’s all really very simple, and everything will be in black and white.
Yes. At True House Buyer we take pride in offering the fairest value for your Toronto home. While the term “fair market value” is subjective, we make sure that we provide reasonable and realistic prices, so that everybody wins. There have been situations wherein we gave the seller his/her property’s full asking rate because we saw the house as a viable investment. Again, our goal is to have all parties happy and satisfied.
No, we will not be living in your house because we are not retail buyers. True House Buyer flips a property for future rental or resale revenue. Since we aren’t purchasing your home for ourselves, we are not required to pay MLS value because we won’t own it long enough to depend on its appreciation. We aren’t also paying for your home through a bank loan. We will hold on to your house only for the short-term until it is once again ready to be owned by someone else.
It doesn’t matter if your home is a mess. We will purchase it as-is, so there’s no need to worry about decluttering or cleaning up. You don’t have to stage it so it will look pretty. None of these will affect our interest in purchasing your property or our ability to give you an offer. We will never judge your house; and for most cases, the messier it is the better.
We love referrals. Simply give us a call and let us know that your friend or family member is interested in selling. If that deal works out positively, then we will give you a referral fee, which usually goes between $500 and $1,000. If it’s a great deal, though, we can give you a higher referral incentive.
While we prefer that your house be vacant, we can help arrange a deal if you have a tenant that’s difficult to deal with. We can assume the renter and save you from the distress of having to pay court fees, file eviction orders, and the like. All you need to do in this case is give your renter a 24-hour notice of our appearance. Note, however, that the price we will offer for your home will be lower if it is occupied than if it is vacant.
At True House Buyer we can close the entire sale within two to three weeks, sometimes even just one week for the most urgent cases. In general, the transaction will take four to six weeks.
This happens more often than not, where sellers will need the money from their old home to finance the upfront costs of their new one or to settle a debt. True House Buyer can settle some of the total amount upfront only if there is enough equity on your property that will allow us to mortgage it. You won’t have to shell out for any interest fees on this deposit given that the sale is completed on the agreed day.
Always be cautious when receiving cold mail, especially if it involves your property and money. While True House Buyer does send out letters, be sure that what you got is the real deal. If you received it from us, don’t hesitate to give us a call. We are a legitimate and reliable company that buys Toronto houses in cash.
It is highly recommended that you have a different lawyer from ours. This is the standard practice for any transaction involving real estate. However, if you don’t have your own lawyer, we can certainly recommended somebody to take care of you. Your attorney will be the one who will hold the deposit, process the deed of transfer, and give you the remaining balance upon closing.
Did you find the answer to your question above, or do you want assistance for something more specific? Our friendly team will be happy to help and provide guidance in selling your Toronto home for cash. Contact us at 647-250-0025.