Desmond Brown

Sometimes Crazy Stuff Happens 🤷🏾‍♂️⁉️

12 February 2019
Desmond Brown

The 2019 real estate market is off to a great start. We're seeing multiple offers on many homes, with most selling over asking price again.  Last week my team member Jennifer Scaife submitted an offer on behalf of her buyer client for an East York bungalow in the Coxwell and O'Connor neighbourhood.

The bungalow was listed at $799,000. On offer night, ten offers were submitted and reviewed. In the end, it came down to Jenn's offer and one other. Jenn's client offered $1,100,000. Jenn's client also submitted a lovely letter to the Seller, saying she would preserve the original character of the home, and especially the beautiful perennial garden. The other offer being considered was from an agent representing a builder who was offering  $990,000. This would seem like a slam dunk for Jenn and her client, wouldn't it? But, in this crazy Toronto real estate market, strange things can sometimes happen.

The Seller, an elderly woman around 80 years old, decided to accept the lower priced offer of $990,000. Yes, the offer for $110,000 LESS!  Her rationale: "A lot of homes are being torn down and rebuilt by builders on my street. I want that to happen to my house too!" Really! But what about your garden? 

 

We're all wondering how this could happen? A stubborn Seller who didn't need the extra money? Bad advise to the Seller from her realtor? Regardless, I know a lot of people who could find something to do with an extra $110,000.