Special offer
Home > Blogs > Vito Pirri > The Toronto and Area Blogosphere for Real Estate News & Information
bookmark_border

Remember "Rumour has it 22 offers?"

By
Real Estate Agent with Re/Max Diamond Realty Inc., Brokerage

Image of 832 Escobar Crescent in Mississauga ON

Well, the property finally sold.  When it was first put on the market, it was listed for $299,000.00.  It had been taken back to the rafters, studs and floor boards.  Then they received 22 offers.  The property was conditionally sold, but that fell through.  The property was then relisted at 329,000.00.  I don't know how many offers were received at that pricepoint, but there was obviously more than one as the property sold for well over the list price.  The property is located at 832 Escobar Cres. in Mississauga, and the MLS number was W1588447.

Comments (2)
Subscribe to CommentsComment

Submit
Show All Comments
Manoj Arora
ACE TEAM REALTY INC. - Mississauga, ON

Hi Vito,

Well we are hearing more and more stories of multiple offers. My own listing in Vaughan got sold last month with 4 offers. We had the first offer on 5th day itself but did not go through and then 3 offers came during the last long weekend and was sold in 17 days. Now I don't want to brag about my great services like pre-listing inspection and Home Staging etc., but the fact is if the property is showing well and is priced well, it will sell quickly. So Buyer's hurry up, interest rates have also started to go up a bit, take advantage of these great times - Now is the time!!

Jun 04, 2009 01:08 PM
Vito Pirri
Re/Max Diamond Realty Inc., Brokerage - Toronto, ON

Hi Manoj,

I'm noticing multiple offers these days in places where there never were multiple offers before.  Mississauga, Vaughan, Brampton, Oshawa!  But what I'm also noticing in these area, that if a property does go to multiples and if they do sell over list, it is slightly over list and many are still including a financing clause.  However, in North Toronto, things are pretty much back to the way they were in the past with multiple offers.

My most current listing at 800 Spadina in Toronto is sold conditional.  I told my clients when we listed that the histroy of the building meant it will be a long time on the market, between 2 and 3 months.  We had an offer in less than 2 weeks and are now just awaiting a waiver for the Status Certificate.

Jun 06, 2009 12:37 AM
Back to Top
Rainer
14,941

Vito Pirri

Profile
Blog
local_phone(416) 235-2500
smartphone(416) 567-0567
Contact The Author

Real Estate Resources

Recent Posts

View more Recent Posts   arrow_forwards

Additional Information

News and market information about the Toronto, Mississauga and GTA Real Estate Market.

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?