Seller of downtown Toronto condo rejects three early bids, ends up with 10

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To encourage offers, he listed it for $600,000 with an offer date at the end of one week of exposure in late April. "In the original listing, we were open to pre-emptive offers and we received three. and we just decided to wait until Monday to take offers," Mr. Moloney said. He ended up with 10 bids.

Because property values are so high in major markets like Toronto, you may end up paying thousands of dollars per year in property taxes, every year. This tax is an essential fee of homeownership, so it’s a good idea to look into the averages of your area or talk to your real estate lawyer so you’re prepared.

A check of recent sales in the Boutique 2 building showed that a one-bedroom-plus-den unit without parking had sold for $627,000 in March. So agent alex moloney, listing this suite with a similar plan.

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Determining the value of a condo is generally easier than valuing a house because there are likely identical or nearly identical comparable sales in your building. In determining the value of a condo, real estate agents and appraisers will determine the price per square foot of recent sales and use that as a basis to determine the value of your condo.

Mr. Bibby knows it sounds absurd for a bedroom window to become such a hot commodity among people with nearly half a million to spend, but that’s where buyers are in the downtown Toronto condo market.

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If I would listen to you guys I wouldn’t buy my 2 condos in Downtown Toronto in 2015 and I would miss appreciation of $250000 on each. Here is what I think will happen, at least in Downtown Toronto condo market : yes the appreciation probably will be slower, may be 5-8% per year but prices will still go up in good area like Downtown Toronto.

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