By: Desmond Brown
My clients got a great deal!
Tags: Buyers, City of Toronto, Toronto Real Estate
A lovely detached home that had been in the same family since the mid-1970s, came on the market a couple of weeks ago. It was listed for under $1 million and the agent held an offer date in hopes of getting multiple bids and a sale price well over asking.
My clients viewed the home but decided that the odds of getting this house in a multiple offer situation were slim, so they passed on it. The day after offers were supposed to be presented, the listing agent sent me an email saying that no offers had come in and that the property was still available.
I let my clients know and they decided to go back to the house and have another look. Soon after viewing it, they decided to put in an offer, however, this offer was under the asking price.
I presented the offer on behalf of my clients and the Seller counter offered at the full asking price. My clients agreed, knowing that the Seller's counter offer of full price was still a great deal, and the house was theirs! I even had a colleague comment to me that my clients got an incredible deal! Market stats of sales of similar homes confirm this.
Although we're still seeing some homes sell for well over asking when they're priced low, it didn't happen in this case. The Sellers gambled by listing the house at a low price, and it was my clients who were the winners!