Selling as-is means you sell the house in its current condition, without fixing anything first. That part is the same everywhere. What is different on Prince Edward Island is a handful of local details that affect who can buy, what the buyer pays and how closing day works. If you own a home in Summerside and want to sell it as it stands, here is what to know.
Summerside at a glance
Summerside is PEI’s second-largest city, with about 16,000 people at the 2021 census. The current city was formed in 1995, when the Town of Summerside merged with St. Eleanors and Wilmot. Its largest single employer is the Summerside Tax Centre, and the former military base at Slemon Park now hosts aerospace and transportation companies. The waterfront has been reworked over the years, with former industrial land turned into parkland, a boardwalk along a rebuilt seawall, and Spinnakers’ Landing.
As in any city, plenty of owners find themselves with a house that needs more work than they want to take on before selling.
Step 1: Decide what “as-is” means for your sale
Before you talk to any buyer, be clear on what you are offering:
- No repairs before closing, and no repair credits after an inspection
- Whether you are leaving furniture, appliances or belongings behind
- Whether there are any items you are taking, like a shed, a heat pump head or a chandelier
Putting that in writing up front avoids arguments later. And remember that as-is does not let you hide known problems. If you know about something a buyer could not reasonably find, disclose it. A real estate lawyer can tell you where the line is.
Step 2: Know your assessment
On PEI, the real property transfer tax is 1% of the greater of the purchase price or the property’s assessed value. It is paid by the purchaser when the deed is registered, so it does not come out of your proceeds. It does matter, though, when a house sells as-is for less than its assessment: the buyer still pays tax on the higher assessed value at registration, though they can ask Taxation and Property Records for a review and apply for a refund if the value is adjusted. A serious buyer will factor that in, so have your latest assessment notice handy.
Step 3: Check whether off-Island buyer rules could apply
PEI’s Lands Protection Act limits how much land non-residents and corporations can hold. Under the current thresholds, a non-resident needs provincial approval if a purchase would take their total holdings above five acres, or if it includes more than 165 feet of shore frontage. The Island Regulatory and Appeals Commission (IRAC) is the place to start for those approvals.
For a typical house on a city lot in Summerside, those limits will not come into play. But if your property is a larger rural parcel just outside the city or has waterfront, an off-Island buyer may need approval before closing, which adds time and uncertainty. The province has also consulted on changes for smaller municipal lots, so a buyer from away should check the current rules. Ask any buyer early whether they are an Island resident.
Step 4: Sort out the utilities
Summerside runs the only municipally owned electric utility on PEI, and the city also owns a wind farm. That means your final power reading and account closure go through the City of Summerside, not the Island’s main private utility. Call the city once you have a closing date. Cancel or transfer heating oil, propane, internet and any service contracts at the same time.
Step 5: Choose how to sell
Listing as-is with an agent
You set the price to reflect the condition and let the market decide. Buyers who need a mortgage may run into trouble if the house has serious issues, because lenders and insurers often want problems fixed first. Inspection negotiations can still happen, even with an as-is clause.
Selling directly for cash
A direct sale removes the financing and inspection hurdles. The buyer prices the condition into the offer up front, you choose the closing date, and you can leave behind whatever you do not want. It trades some potential upside for certainty.
Step 6: Closing day on the Island
On PEI, the deed is registered with the Registrar of Deeds, and before registration the purchaser files an Affidavit of Purchaser stating what was paid and whether the purchase is taxable or exempt. Your lawyer and the buyer’s lawyer handle this between them. Your part is mostly signing the deed and any closing documents, handing over keys, and making sure your mortgage is paid out from the proceeds. If you have already moved off-Island, ask your lawyer how they arrange signatures at a distance.
What to have ready
- Your deed or property number, and your most recent assessment notice
- Your mortgage payout statement, if there is a mortgage
- Recent utility and property tax bills
- Any warranties, permits or receipts for past work
- A short, honest list of known issues
Sell your Summerside house as-is to East Coast Home Buyers
We buy houses in Summerside, St. Eleanors, Wilmot and across Prince County in their current condition. There is nothing to fix, empty or stage first. If you want, we will walk you through the numbers behind our offer, and the closing date is yours to pick, as soon as a couple of weeks out when title is clear.
To see what your house would sell for as-is, request a cash offer. There is no cost and no commitment.
Frequently asked questions
Who pays the real property transfer tax when I sell in Summerside?
The purchaser pays PEI’s 1% real property transfer tax when the deed is registered. It is calculated on the greater of the purchase price or the assessed value.
Will an off-Island buyer need approval to buy my house?
For a typical city lot, usually not. Under the Lands Protection Act, approval is needed if a non-resident’s total holdings would exceed five acres or the purchase includes more than 165 feet of shore frontage. The province has consulted on changes, so buyers should check the current rules with IRAC.
Who do I call about the final electricity bill?
The City of Summerside runs its own electric utility, so contact the city with your closing date to arrange the final reading.
Do I have to fix anything before closing?
Not when you sell to us as-is. We buy the house in its current condition and account for repairs in our offer.