How much does it cost to sell a house in London, Ontario?

If your home does not sell in the agreed time, we buy it at the guaranteed price. If a buyer offers more, you take the higher offer. Six rules decide if your home qualifies:

1. You buy your next home from one of our own listings, with Ken working for you. Nothing on our list fits? Tell us. We can look at another home you like.
2. Your next home is worth the same or more than the one you are selling.
3. The program runs in London, Ontario, on homes worth up to $500,000. Not rural or country properties. Just outside London, or over that price? Call Ken. We may still be able to do it.
4. Your guaranteed price is your agreed market value, less 7%, less the standard commission. That 7% pays for the risk we take by promising to buy.
5. Your new home closes 120 days after the guarantee is issued.
6. A better offer beats the guarantee. If a buyer offers more while your home is listed, that is the one you take.

Nothing is binding until you and the buyer sign an Ontario Form 100, the Agreement of Purchase and Sale.

Not every home fits the buyout rules. If yours does not, this one covers you instead. Sold means a written offer you accept in the first 30 days, at any price, not the closing. The $5,000 is paid when your sale closes. Five rules:

1. Your home is in London, Ontario. Outside London? Call and ask.
2. You and Ken agree on a Guaranteed Minimum Sale Price, in writing, before the home is listed. It is set from the same agreed market value the buyout uses, and cannot be higher than your list price.
3. The home is kept in showcase condition, as it looks in the listing photos, with reasonable daily showing access. Refuse showings, or pause, cancel or move the listing in the first 30 days, and the guarantee ends.
4. Turn down a written offer at or above that minimum, at any time during your listing, and the guarantee ends. At or above the minimum means the price after any credit you give the buyer. Countering such an offer counts as turning it down. Choosing one offer over another does not.
5. Homes listed at $350,000 or more: $5,000 paid at closing, as a rebate or off the commission (seller’s choice). Homes listed under $350,000: $3,000 paid at closing instead, as a rebate or off the commission (seller’s choice).

Sold means a written offer you accept in the first 30 days, at any price, not the closing. You never have to accept an offer below your minimum. That is always your call, and saying no to one never costs you the guarantee. The 30 days start the day your home goes live on MLS. An offer made in the 30 days counts if you accept it while it, or a counter, is open. The buyer’s conditions and the closing date are between you and the buyer. If an accepted offer falls through, the guarantee has been met; the 30 days do not start again. No accepted offer in 30 days? We keep marketing your home through your three-month listing. The remedy in (5) is paid when that sale closes. No closing, no payment.

More terms, word for word from the guarantee:

“Listed at” means the original list price in the signed Listing Agreement; a later price change does not move a home from one tier to the other. The $5,000, or $3,000, is paid at the closing of a sale accepted during your listing. That closing can come after the listing ends. No closing, no payment. The guarantee you sign with your listing agreement is the one that counts.

See every guarantee and condition →