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Selling Your Home Because of Interest Rate Increases?

Unfortunately, many homeowners in Canada are thinking about selling their home to make ends meet; a few tips first and then a great CBC article of a senior and his experience regarding affordability.

Please note I am not a mortgage advisor or a financial guru; I am an owner of a real estate brokerage in London, Ontario, and a large percentage of our business is with seniors. These steps or ideas are what has helped many stay in their home or helped them to downsize or find affordable rentals.

  • Ask for a consultation with a real estate lawyer, or an accountant, or your financial advisor and be upfront with them.
  • Negotiate with your mortgage lender , you have many options and a good lender will assist you
  • DO NOT JUMP FOR THOSE “WE BUY HOUSES FOR CASH” Read this for why not.
  • If you must sell, have a place to go to first.
  • If you must sell, interview more than one Realtor and ask these questions.

Now The Story: This senior sold his home due to interest rate hikes. Now, he can’t find an affordable rental

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Ty Lacroix

"Not All Realtors Are The Same"! This website and content are for you and are designed and constantly upgraded with the latest real estate trends, how-tos, and what is for sale on MLS. Our primary focus is guiding home buyers and sellers to make good decisions. We believe selling real estate is a process, not an event or knee-jerk reaction; we sleep well at night and ensure our clients do as well! We are not for everybody, nor can we please everybody, nor do we tell people what they want to hear; I know that may be old-fashioned and boring, but we are dealing with hundreds of thousands of your hard-earned money. Would you rather be happy, excited and bored or unhappy, excited and make a poor choice? About Ty I am a Broker with Sutton Group Preferred Realty Inc., Brokerage and the team leader for The Envelope Real Estate Group, that's enough about me! You see, this is about you, you do not want to hear blah blah stuff about awards, designations, or that we walk older adults across the street (I used to help old ladies cross the street, but as I got older I did not want my wife to think I was flirting) the reincarnation of Mother Teresa, walk on water or anything else to impress you. We let the numbers speak for themselves; success leaves clues!

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