Real Estate

Selling house - 2 questions

  • Last Updated:
  • Jan 20th, 2021 9:00 pm
Newbie
Apr 14, 2016
5 posts
2 upvotes

Selling house - 2 questions

We have purchased a new build home in Winnipeg. Planned possession date is late May 2021 (subject to delays, of course). Looking to get some opinions/suggestions from the seasoned real estate members on here. Two questions:

1) We are wondering when the optimal time to list would be. Right now, there is extremely low inventory in Winnipeg, and there are lots of bidding wars. While the 2 agents we have corresponded with are suggesting delaying the sale until March 2021 (to try and line up possession dates), we are wondering if we are better to just get it on the market ASAP while the inventory is low, and hope for a flexible buyer (in terms of possession). Worst case would be that we need to bridge the possession dates with temporary accommodation for a month or two (we do have 2 small kids so this would be tough). The thought here is that if we delay into the spring, there may be a decent influx in homes for sale, reducing the magnitude of the bidding wars. Another factor to consider is that we will not have a "firm" possession date on the new build until early April 2021, so even if we delayed until March for the listing, we still may find ourselves requiring temporary accommodation should the home be delayed. Tricky situation, trying to come up with an optimal strategy here seems tough!

2) Anyone have experience trying to sell privately in a hot market? Plan would be to just try on Kijiji for a couple weeks, and if no luck, we would get it listed with an agent in the standard way. Is this worth a try or would we be wasting our time?

Thanks!
2 replies
Deal Addict
Jan 13, 2014
2907 posts
2135 upvotes
Calgary
do you need to bridge your mortgage or are you getting a new one at the new home? if bridging is not a concern then you can list now, and if sold early just rent an airbnb or short term rental and call it a day.
Newbie
Apr 14, 2016
5 posts
2 upvotes
Yeah that's kind of the way we are leaning. We will be getting a new mortgage on the new home so that won't be an issue.

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