Selling Real Estate: Frequently Asked Questions
Please find below the answers to a few common questions. Please keep in mind these answers are more general in nature and may differ depending on your unique circumstances. Please do not reply on this information without verification.
When is the best time to sell?
Typically the two busiest times of the year in the Great Vancouver real estate market are the Spring and Fall seasons. Winter tends to be slow as people prepare for the holidays and the Summer is also slower with school holidays being a distraction and locals taking advantage of the valuable sunny weather.
Is it better to buy before selling or to sell before buying?
It is normally better to sell before you buy as this eliminates the financial risk of having to pay two mortgages plus taxes, insurance and utilities for several months. Unless you qualify for interim financing, your lender may require that you sell your home before granting financing on your new home. If the buyer makes an attractive offer and wants to close quickly, you can arrange for temporary housing. More importantly it is very difficult to negotiate a deal on a property when your offer is "subject to the sale of" another property.