Anyone looking to buy a home right now is already competing against several, if not dozens, of other interested buyers trying to outbid one another. But there’s another reality aspiring Toronto homebuyers need to prepare themselves for: being outbid by a bully offer that comes in way over asking.
That’s exactly what happened with a recently sold three-bedroom in the Birchcliffe-Cliffside neighbourhood. The Toronto house, located at 291 Blantyre Avenue, hit the market on Tuesday with an asking price of $1,099,900 and got scooped up later that same day by a bully offer of $1,625,000 — $525,100 over asking.
“We had one pre-emptive offer on the first day,” listing agent and owner of Wright Sisters Group Melanie Wright told Daily Hive. “Their agent had a feeling it was a good fit for their family and they were waiting for it to come to market.”
It’s not hard to see why the home would have been attractive to buyers with its three bedrooms, two bathrooms, large backyard, heated garage, 30-foot frontage, and basement with its own entrance.
“The location and access to the school right across the street is a big draw for families,” Wright added. “It was move-in ready, with further potential.”
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But securing a great offer right off the bat was not without some additional effort.
“We ran a coming soon campaign knowing there was an appetite for a detached home on a premium lot, just steps from the school,” Wright said.
“As soon as it hit MLS we had a lineup of showings. Coming off a few sales in the immediate week before, we felt good about the strategy and the outcome surpassed our expectations. The sellers worked very hard to prep the home — including painting and laying new hardwood floors on the second floor — in the final weeks before the reveal, and it certainly paid off.”