Listed low, Pickering townhouse gets bumped-up offer after negotiations

Re/Max Hallmark Realty Ltd.

1865 Kingston Rd., Unit. 82, Pickering, Ont.

Asking price: $649,900 (March, 2022)

Selling price: $805,000 (April, 2022)

Previous selling prices: $477,000 (November, 2018); $385,000 (November, 2016); $231,900 (March, 2013); $209,000 (January, 2008); $177,000 (February, 2005); $166,000 (October, 2002); $139,730 (February, 1999)

Taxes: $2,912 (2021)

Days on the market: Eight

Listing agent: Jenelle Cameron, Re/Max Hallmark Realty Ltd.

The action

This two-bedroom unit has a street level entrance and a front deck above the garage.Re/Max Hallmark Realty Ltd.

About 16 potential buyers toured this three-storey townhouse at a time when bidding wars were a frequent occurrence in Pickering, about 45 kilometers east of downtown Toronto. By the date set for reviewing offers, only one bidder stepped forward, but that the initial offer became a starting point for negotiations. When discussions ended, the buyers and sellers agreed to an offer $155,100 over the $649,900 list price.

“We priced it quite low to get people interested, which sometimes works and sometimes doesn’t,” agent Jenelle Cameron said.

“We had one offer, but we let [the buyer] know we’d relist if we didn’t get the price we wanted.

“They were willing to pay that price anyway because they were expecting to be in a multiple [offer scenario].”

What they got

About 16 potential buyers toured this three-storey townhouse at a time when bidding wars were a frequent occurrence in Pickering, about 45 kilometers east of downtown Toronto.Re/Max Hallmark Realty Ltd.

This townhouse complex was developed in 1998 with models generally stacked back-to-back, so this two-bedroom unit has a street-level entrance and a front deck above the garage.

Previous owners renovated the interiors, including the two bathrooms and kitchen, which was given new appliances and tile flooring. Updated hardwood flooring has been installed in the open living and dining room.

There is a loft with a skylight on the third floor. Laundry facilities are in the basement.

Monthly condominium fees are $256 and cover the cost of water.

The agent’s take

Updated hardwood flooring has been installed in the open living and dining room.Re/Max Hallmark Realty Ltd.

“There were a lot of first-time buyers because it was inexpensive and a cross between a condo and a house,” Ms. Cameron said.

“There was one really nice element a lot don’t have, which is that the primary bedroom has a big cathedral ceiling.”

This townhouse is also within a five-minute drive of major retailers and Highway 401. “You’re close to everything in Pickering – the mall, transit and highways – so for commuters it’s good,” Ms. Cameron said.

Previous owners renovated the interiors, including the two bathrooms and kitchen, which was given new appliances and tile flooring.Re/Max Hallmark Realty Ltd.

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