Selling a home is a challenging task especially in today’s real estate market.
Following through to achieve your goal requires that you hire a realtor, list your home on the market, stage your home for multiple open house showings, carry out repairs, hire a lawyer, and more.
And, with all of that done, if the economy is flat and/or the real estate market is cool (like it is right now), your house could be on the market for months.
Properly is a real estate company that buys your house after providing you with a near-instant valuation. Simply put, this iBuyer technology company offers a new way to sell your home fast in Calgary or Ottawa.
This Properly review covers how the company works, how much it costs to sell your house, their price match guarantee, and how to use the ProperPrice™ Report.
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Who is Properly?
Properly is a tech startup in Canada founded by the trio of Anshul Ruparell, Sheldon McCormick, and Craig Dunk in 2018.
The company is based in Toronto and offers an innovative technology-driven way for Canadians to sell and buy homes without the hassle that comes with traditional real estate transactions.
In 2019, Properly raised $22million in Series A funding to expand its service offerings.
As of this writing, Properly offers its services in Calgary and Ottawa, with plans to expand to other provinces and cities in the coming months.
How Does Properly Work?
Properly is a one-stop-shop for your home purchase and home selling needs.
Selling a home
Properly can be referred to as an iBuyer which is a real estate company that uses technology to estimate the value of your home and makes an offer instantly or almost instantly. The company gives you a free, no-obligation, cash offer within 2 business days.
For your home to qualify, it should meet certain conditions. For example, homes in Calgary should be valued between $250,000 and $485,000. In Ottawa, the price range must be between $250,000 and $700,000.
Properly utilizes a computer model that predicts the value of your home with 99% accuracy after factoring in the actual selling prices of nearby homes, unique features of your home, and real estate market trends.
If you accept the offer, they complete a free third party home inspection to evaluate repair costs, if any. You can then choose when you want to move out in order to avoid overlapping mortgages and get your certified cheque.
Properly Profit Share Guarantee
After making all necessary improvements on your home, Properly sells it on the open market. If they make a profit, 50% of the profit is passed on to your within 10 business days.
You can track how much your house is listed for on Properly and confirm its actual sale price.
Buying a home
In addition to selling your home to Properly for cash, you can also use their service to purchase your dream home.
If you decide to buy a home with Properly, they match you with a full-service realtor (Client Advisor) to help you find and buy your new home.
The service offered by the client-advisor is free every step of the way until closing.
ProperPrice™ Report: Track Your Home’s Value
Even if you are not yet ready to sell your house or buy a new one, you can use Properly’s free tool, ProperPrice™, to track the value of your home over time.
The ProperPrice™ report uses an automated valuation model to compute the price of your home using 75+ data sources.
The tool works automatically, has a 99% accuracy, and has been tested on more than 125,000 sold homes.
How Much Does Properly Cost?
If you are buying and selling your home using Properly, the service fee is 5.9% of your home’s selling price. If you only sell your home to Properly, the fee is 7.9%.
Compared to going through the hassle of endless open houses, paying a lawyer, cleaning your home, managing repairs, and eventually paying a realtor 4-5%, Properly’s 5.9% to 7.9% fee can lead to real-time savings.
Even better, you save time and avoid the stress that comes with the risk of not selling your home on time. Your total cost is apparent upfront and there are no hidden fees.
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Benefits of Properly
Here are some of the benefits you get when you use Properly for your real estate needs:
- You can sell your home fast for cash
- It is easier to manage your close and avoid paying overlapping mortgages. You can pick your closing date 5 to 60 days out
- 99% accurate home valuation
- A profit share guarantee means you enjoy 50% of any profit generated after your home is sold
- Sell your home as-is with no need to list, clean or show it
- You get a free home inspection
- Easily track your home’s value even if you are not planning on selling now with the ProperPrice™ tool
- Access to top-rated real estate agents if you choose to buy a house with Properly
Is Properly Right For You?
Properly is changing how Canadians sell their homes. If you are selling a detached or semi-detached home in Ottawa or Calgary and prefer to do it fast, Properly is worth checking out.
Even if selling your home is not something currently on your radar, you can track the value of your home for free and without hassle.