Real Estate

Private sale homes in Markham, Ontario?

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  • Apr 28th, 2016 10:32 pm
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Newbie
Apr 24, 2014
2 posts
Unionville, ON

Private sale homes in Markham, Ontario?

Hi Everyone! Was wondering if anyone would know of any legitimate sites for private sale houses in the Markham/Scarborough area. I'm not looking for million dollar houses just one around 700K. With the bidding wars out there, its hard to compete with all these wealthy buyers or crazy couples willing to take on huge mortgages.


Any help would be appreciated!

Thankyou!

Enix
15 replies
Deal Expert
May 30, 2005
45829 posts
6331 upvotes
Richmond Hill
I asked the same question myself.

Realistically speaking, there's no benefit for a seller to sell privately. Yes, they would save a couple percent on commissions, but they would make much more money putting their house on MLS and getting a bidding war going on.

So the answer is, there might be some private listings, but they are few and far inbetween, and from my experience, they are usually from realtors selling their own, or their sibling's properties, who would like to double end both sides of the deal.
Deal Expert
User avatar
Jun 9, 2003
24874 posts
2010 upvotes
Markham, ON
why would a seller not want an agent in this market right now?....it's all setup for a bidding war. All the house are prices lower than market and bang...even Detached in Cornel Markham is selling for an average of 870K$ in Q1.


think about it...there is so much liquidity out there...speculators will just gobble up all the "private sale" homes and just resell them to flip.
Deal Expert
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Apr 21, 2004
54676 posts
19490 upvotes
Why not list on MLS for a flat fee?

True though that some selling agents know the art of inflating prices even more during an auction war. Value add to the client for sure.
Deal Addict
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Jan 14, 2007
3794 posts
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GTA
You could try sites like Kijiji, but as others have pointed out, there is very little incentive right now to do private sales. I do suggest that you drive around the desired areas though as sometimes exclusive listings are used, as well as signs informing that the house will be "coming soon".

Good Luck!
Deal Addict
Nov 7, 2012
1186 posts
577 upvotes
TORONTO
Some real estate agents do the private listings. My agent did and thats how my wife and I started looking for the house we bought.

Some realtors will do the private listing for sellers who are flipping houses. They're trying to avoid the taxes involved when flipping. The seller can say they bought it for x reason (ie. not flipping it) and have been living there for x amount of time.
Deal Fanatic
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Feb 2, 2014
9072 posts
2582 upvotes
Toronto
Enix01 wrote: Hi Everyone! Was wondering if anyone would know of any legitimate sites for private sale houses in the Markham/Scarborough area. I'm not looking for million dollar houses just one around 700K. With the bidding wars out there, its hard to compete with all these wealthy buyers or crazy couples willing to take on huge mortgages.


Any help would be appreciated!

Thankyou!

Enix
Because sellers know that it is their market, it's tough to find something on the private market. Given the current market, it would be very wise to sell on MLS and get multiple offers.

Kijiji would be your best bet however for private sales.
Kevin Somnauth, CFA
Principal Broker - First Toronto Mortgage - MA (Ontario #13176, BC #X301007)
Real Estate Salesperson - Century 21 Innovative
Deal Expert
User avatar
Jun 9, 2003
24874 posts
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Markham, ON
i live in east Markham...i get a flyer each day to get me to sell the house...

looking at the sale price stats over the 5 quarters is just pure insanity (esp in Q1-16)...i can imagine why agents want a piece of the pie.
Deal Addict
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Jan 14, 2007
3794 posts
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GTA
thelefteyeguy wrote: i live in east Markham...i get a flyer each day to get me to sell the house...

looking at the sale price stats over the 5 quarters is just pure insanity (esp in Q1-16)...i can imagine why agents want a piece of the pie.
Yeah, the number of flyers being delivered by RE agents has increased dramatically in the past year. We now get at least one agent ringing our doorbell every week trying to solicit business. The one that came this week advised us that a house on our street was sold by them in one day for something like 115% of asking price! They left us with the print out from MLS but we just chucked it since we're not going anywhere.
Deal Addict
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Dec 21, 2010
1592 posts
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GTA
I live and work in Markham as a Realtor. I can tell you that for $700,000, you will not find a detached. At the current rate, we are listing semi's in my neighbourhood (Olde Markham Village) closer to $800,000 and the bungalows are at an average of $1.3M strictly to be torn down due to the size of the land.

You will have better luck if you can align yourself with a realtor in the area who can help you with upcoming listings. The market value won't be discounted just because you hope to get a "deal". It just doesn't work that way.

You can have even better luck if you move a bit further North to Stouffville.
Award Winning Realtor - I LOVE MY JOB!!
At the end of the day, you're the boss and need to make sure I'm worth your rate of pay!
Deal Addict
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Dec 21, 2010
1592 posts
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GTA
Another thought would be to search in the very East end of Scarborough (but leave the shady areas alone... you won't find any value in certain spots regardless). There is a newer area along the lake that I have been showing a lot more lately. Nice clean and newer homes towards the West Rouge area.

Keep in mind though, with buying in Toronto, you are subject to the double tax.
Award Winning Realtor - I LOVE MY JOB!!
At the end of the day, you're the boss and need to make sure I'm worth your rate of pay!
Deal Fanatic
Mar 15, 2005
5499 posts
1044 upvotes
You won't find a real estate "deal" in the GTA unless the person selling the home is completely brain dead.
Newbie
Mar 24, 2006
49 posts
6 upvotes
Toronto
Try posting a WANTED as in the Real Estate section of Kijiji. I bought a house from a seller on there. Private deal, seller didn't want to go through the effort of staging. I'm sure he left at least $100K on the table, but saved realtor fees and was done the deal with me in 2 days. I had the ad posted for 6+ months before I had a legit response. Going private before a house hit MLS was my only way into this particular pocket in the GTA. Don't lose hope - it happens.
Sr. Member
Dec 30, 2006
680 posts
383 upvotes
Toronto
Depending on the area. 700k will be tough to even get a townhouse, let alone a detached.

You could try the usual sites and let people know you won't be buying with an agent. Maybe they will knock it down tne 2.5%

Good luck either way.
Deal Expert
May 30, 2005
45829 posts
6331 upvotes
Richmond Hill
lily99 wrote: Try posting a WANTED as in the Real Estate section of Kijiji. I bought a house from a seller on there. Private deal, seller didn't want to go through the effort of staging. I'm sure he left at least $100K on the table, but saved realtor fees and was done the deal with me in 2 days. I had the ad posted for 6+ months before I had a legit response. Going private before a house hit MLS was my only way into this particular pocket in the GTA. Don't lose hope - it happens.
The thing is, though, during the 6 months that you spent waiting for a response, that same house would have appreciated the equivalent of $100K that you saved anyways.

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