The Durham Region For Sale By Owner / For Rent By Owner real estate market has been hot this week.
There have been 2 successful private real estate sales and 3 For Rent By Owner transactions on the HomesByOwner of Durham Region website.
By Owner real estate is booming in Durham Region, Ontario and all across Canada. Property owners realize that you don't have to pay thousands of dollars in real estate fees to sell or rent real estate.
List your For Sale By Owner / For Rent By Owner real estate on the Durham Region Homes By Owner Website.
The Durham Region private real estate website covers Oshawa, Whitby, Ajax, Pickering, Brooklin, Clarington, Claremont, Bowmanville, Courtice, Newcastle, Hampton, Blackstock, Region of Durham, Scugog, Port Perry, Manchester, Durham, Brock, Cannington, Seagrave, Beaverton, Uxbridge, Newtonville, Durham Ontario, Burketon, Raglan, Lake Simcoe, Utica, Greenwood, Goodwood, Sunderland, Myrtle Station, Prince Albert.
No Agents. No Commissions. No Contracts To Sign.
Check out the hottest Durham Region For Rent By Owner / For Sale By Owner Website.
Our Durham Region For Sale By Owner / For Rent By Owner real estate blog on ActiveRain.com has made it to the 3 month stage. And some said it would not last. All kidding aside, we are now up to 70 posts and growing daily. Google has noticed our blog and has given us great placement in searches.
In developing this blog, our goal is to keep subscribers updated on new real estate listings that appear on the Durham Region homes for sale privately website. Home sale by owner is booming all across Canada. The real estate owner now wants to control their own commission free sale or rental.
We also attempt to post updated real estate information and news that could affect the market. The completion of the section of Highway 407 from Pickering to Highways 35/115 in 2013 will most certainly affect sales in the Region of Durham.
First-time buyers of resale homes in the Province of Ontario now receive a refund of up to $2,000 for the Land Transfer Tax they paid. Previously only new homes qualified for this program.
When you consider real estate fees run into the thousands of dollars, selling privately or renting your property yourself makes a lot of sense. After all, who knows the property the best that is being sold or rented?
Landlords can use our For Rent By Owner option for rentals of apartments and houses. Durham Region homes and apartments for rent are give maximum exposure on our website.
Our Durham Region private sale and rent by owner company markets properties for sale by owner / for rent by owner in Oshawa, Whitby, Ajax, Pickering, Brooklin, Clarington, Claremont, Bowmanville, Courtice, Newcastle, Hampton, Blackstock, Region of Durham, Scugog, Port Perry, Manchester, Durham, Brock, Cannington, Seagrave, Beaverton, Uxbridge, Newtonville, Durham Ontario, Burketon, Raglan, Lake Simcoe, Utica, Greenwood, Goodwood, Sunderland, Myrtle Station and Prince Albert.
We know Durham Region and have an office here. The local HomesByOwner.com company is run by an ex-realtor with 20 years in the real estate business. You are never alone when selling privately with us.
Check out our Durham Region Homes By Owner Website.

Promote your business on the HomesByOwner of Durham Region website. We provide maximum exposure for you with our For Sale By Owner company.
We offer various packages to suit every budget.
Contact Durham Region Homes By Owner for more information.
Our Durham Region Homes By Owner real estate private sale website has added a lawyer referral service to all of our For Sale By Owner marketing packages.
The biggest fear for private sellers, and in most cases the only one, is the completion of the real estate forms required to sell their property. HomesByOwner of Durham Region has resolved this issue.
We have compiled a list of Durham Region real estate lawyers that are prepared to assist property owners selling privately. They will help with the completion of all paperwork and see the transaction through to a successful completion.
Each real estate sale is unique. It takes the guidance of a legal professional to ensure that all real estate forms are completed correctly.
Your Durham Region private sale company has now paved the way for you to sell your own home and save thousands of dollars in real estate fees.
See our Durham Region Real Estate Listings For Sale By Owner Website.
How does rent-to-own real estate work? This blog will give you an idea of what to expect when considering this way to sell or purchase real estate.
A rent-to-own is generally considered when a buyer does not have a down-payment. It will give them the opportunity to rent a property for a specified period of time during which they will accumulate the necessary down-payment. This is done by increased rent payments and through their own savings.
As an example, let's say the rent for the property is normanally $1,000 a month. The buyer and seller agree for the rent to be increased to $1,500 per month. The additional $500 each month would go towards the down-payment. If the rent-to-own agreement specifies a rental term of 1 year, then the buyer would have $6,000 to use as a down-payment at closing.
There are pitfalls though. The buyer is approved for a mortgage at the beginning of the agreement. When the rental term is about to expire and the transaction is due to close, the buyer will once again have to go through the mortgage approval process.
The mortgage company will require proof of income, list of debts and a credit check for each buyer on the application. If the debt load has increased or an applicants credit rating has dropped, a mortgage on the property may no longer be possible. The buyer will not be able to complete the transaction.
The question then is what happens to the agreement? The seller is expecting the transaction to close. Without a mortgage the buyer cannot proceed. And what happens to the additional $6,000 the buyer has paid in rent over the past year?
What happens if the original agreement is for a selling price of $220,000 which is fair market value at the time? But a year later when the transaction is to close the property is worth $190,000. The seller will want their $220,000 but the buyer only wants to pay $190,000.
Let's say the buyer wants to conduct a home inspection prior to closing. If the report reveils a problem that the seller will not correct and the buyer will not accept, what happens? Again, what happens to the extra $6,000 rent that was paid?
These are scenarios that could develop when considering a rent-to-own. The Ontario Landlord and Tenant Act will be in effect during the rental period. If the transaction does not close, the seller will continue to have a tenant occupying their property.
It is recommended that you CONSULT WITH A LAWYER BEFORE YOU SIGN ANYTHING with regards to a rent-to-own. This applies even if you are using a real estate agent to draw up the agreement. Take all the paperwork to your lawyer and have them review and explain the terms and conditions that you will be bound to. Doing this before you sign could save you many thousands of dollars down the road.
Up until a few years ago, you needed 5% of the purchase price as a down-payment to buy a single family residential property in Canada. This rule has changed as you can now get into the market without a downpayment. Those that qualify can finance the property for 100%. Needless to say you have to have a good credit rating. When you take this into consideration, maybe a rent-to-own is not necessary.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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