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Toronto Real Estate Buyer negotiated up to asking price for large, renovated Westminster condo

Young Realty Inc.

90 Fisherville Rd., Unit 1004, Toronto

Asking price: $648,000

Selling price: $648,000

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Previous selling price: $403,000 (Jan., 2019)

Taxes: $1,713 (2018)

Days on the market: Eight

Listing agent: Stephen Young, Young Realty Inc.

The action

The unit is in the Courtlands complex near G. Ross Lord Park.

Young Realty Inc.

Agent Stephen Young felt it was too risky in this spring’s market to follow the common practice of pricing low in hopes of sparking a bidding war over this newly renovated, two-bedroom-plus-den suite near G. Ross Lord Park. Instead, he priced the unit at $648,000, a level he estimated would leave buyers room to negotiate. Two visitors did just that in late March.

“Both [bids] started below asking, which is fairly typical for this market. One came up to full asking price,” Mr. Young said.

“In that neighbourhood, the market is very slow. [Units spend] months on the market, which is typical now, so we were quite surprised we got that price that quickly.”

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What they got

The unit's traditional floor plan and finishes were completely changed.

Young Realty Inc.

This more than 40-year-old suite in the Courtlands complex just completed a major transformation in the hands of Mr. Young’s company, Young Realty Developments.

Two bathrooms were updated, the den was enlarged and walls were removed between the living and dining areas. The kitchen was also opened up and redone with stainless steel appliances, quartz countertops, a peninsula and waterfall edge island.

The unit comes with a storage locker and two-car parking. Monthly fees of $965 pay for utilities, cable and upkeep of the tennis court and pool.

The agent’s take

“This particular condo is 1,350 square feet with a beautiful south view,” Mr. Young said. “And nothing in this building looks like this unit.”

Its traditional finishes and floor plan were all replaced. “Its truly an exceptional property with no expense spared in the reno,” Mr. Young said.

“[For instance] the original dens are tiny, like five feet by ten feet, and this one is like a bedroom.”

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