A lot of changes happened in the since April, when I last posted....I've sold my condo, moved to Ottawa, started a new job, bought a car, and bought a new construction condo which closes in January.
Over the next few posts I'll detail what that means for each of these changes. Let's start with selling my condo. Last time I posted in April I was contemplating selling my condo. In July I took the plunge. I knew that I wasn't entirely happy with my job and that I wanted to look for a permanent position, instead of going for another contract, which could potentially see me living in a new city.
I sold through Comfree, which I mentioned in the previous post. I settled on the Classic Package for $199+tax with the option to have a realtor post my property on MLS (1 photo and a link to my Comfree listing) for another $199+tax. Here's a link to my listing...http://comfree.com/274343
After 4 open houses, two weekends back-to-back and another 2 private showings, I accepted a full price offer, minus a $5,000 flat fee commission to the buyer's realtor. I diligently returned phone calls, emails, and updated my property on all of the free sales sites (Kijiji, Craigslist) each day -- selling privately is hard work, but I loved it. I printed out feature sheets, and provided potential buyers with as much informaiton as I could. I ended up with 2 offers which would have netted me $195,000 and took the one whose buyer I felt would appreciate the condo as much as I did. By not using a realtor to sell, I saved myself approximately $5,000.
So, financially how did I fare in the sale?
Condo sales price + Furniture Sale
Mortgage + fees
Cost to advertise property
Legal Fees + Disbursements
If you recall, I initially put down $17,500, plus closing/legal fees. Minimal renovations were done by my Dad, the largest cost being the new floors (a gift from Mom), so all in all, I walked away with a very good profit after only 10 months of ownership -- the condo closed only last week.
So, where is this sizeable chunk of money going?? I've broken it down into a list, which I'll share next post.