Buyer's market vs. seller's market: What you need to know when buying or selling a home in Toronto

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• Buyer's Market vs. Seller's Market

• 416-321-8766

• john_at_zinatikay.com

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• What is a Buyer's Market?

• A surplus of homes for sale with fewer buyers
• Buyers have more negotiating power
• Sellers may drop asking prices to attract buyers

What is a Seller's Market?

• Fewer homes available and more buyers in the
  market
• Increased competition and potential bidding wars
• Sellers have more negotiating power, may not
  accept conditional offers

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• Tips for Home Sellers in a Buyer's Market

List Your Home at Market Value

• Factors influencing pricing decisions
• Setting the asking price at market value
• The importance of avoiding overpricing

Update Your Home to Attract Buyers

• Low-cost improvements to enhance appeal
• Upgrading appliances, fixtures, and landscaping
• Paying attention to details for a positive first
  impression

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Make Some Much-Needed Repairs

• Fixing damaged floors, walls, faucets, and
  windows
• Fresh coat of paint and replacing missing
  fixtures
• Presenting a well-maintained and move-in ready
  home

Get Professional Pictures Taken

• Hiring a professional photographer for
  high-quality images
• Proper lighting, staging, and capturing the
  property's best features
• Increasing buyer interest and potentially higher
  offers

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• What Does a Real Estate Lawyer Do for the Seller?

• Negotiate the sales contract. Your lawyer will
  negotiate the terms of the sales contract on your
  behalf.
• Prepare the closing documents. Your lawyer will
  prepare the closing documents and ensure that
  everything is in order.
• Transfer the title to the buyer. Your lawyer will
  transfer the title to the buyer and ensure that
  the sale is completed.

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• Tips for Home Buyers During a Seller's Market

Visit Many Properties Before Making Any Decision

• Exploring multiple options to make an informed
  choice
• Avoiding overspending or overpaying for a single
  property

Take Time to Analyze

• Evaluating the market value of the property
• Comparing with other potential options

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Prepare for a Bidding War

• Recognizing the possibility of competing offers
• Setting a firm financial limit and avoiding
  overpaying

Get Your Mortgage Pre-Approved

• Securing a pre-approved mortgage
• Demonstrating financial stability and offering
  good faith to sellers

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• What Does a Real Estate Lawyer Do for the Buyer?

• Review the sales contract. Your lawyer will
  review the sales contract and make sure that it's
  in your best interests.
• Order title insurance. Title insurance protects
  you in case there are any problems with the title
  to the property.
• Close the sale. Your lawyer will close the sale
  and ensure that everything is done properly.

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• Is Toronto a Seller's Market or Buyer's Market
  Right Now?

• December 2022 Toronto housing market reported as
  a buyer's market by RBC Assistant Chief
  Economist.
• Average listing duration in early 2023 23 days
  before homes are purchased.
• Real estate market can be volatile, highlighting
  the importance of staying informed.
• Understanding changes in the real estate and
  financial worlds, including interest rates.
• Awareness of market conditions helps buyers and
  sellers make informed decisions.

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• Contact Zinati Kay for Help with Buying or
  Selling Your Home

• Leading Real Estate Lawyers In Toronto
• Over 25 Years Of Experience In The Toronto
  Housing Market
• Smooth And Hassle-free Real Estate Transactions
• Fixed Closing Cost Of 999 On All Residential
  Sales Transactions

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• Related Links

• What Is An Agreement Of Purchase And Sale In Real
  Estate?
• Why Is It Important For A Home Buyer To Hire A
  Real Estate Lawyer?
• 8 Advantages Of Buying A House In A Buyers
  Market Of Toronto
• Understanding Real Estate Trends How To Identify
  A Buyers Or Sellers Market
• John Zinati Explains The Latest Foreign Buyers
  Ban In Canada And How It Will Impact The Housing
  Market

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• Contact Us

100 Cowdray Ct suite 320, Scarborough, ON M1S 5C8

• 381 Front St W, CityPlace near the
  Skydome,Toronto, ON M5V 3S1

• 416-321-8766

• john_at_zinatikay.com info_at_zinatikay.com

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• Thank you