Buyer overcomes rival bidder with no-conditions offer and a little extra cash

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639 Woodward Ave., Milton, Ont.

Asking price: $629,900 (June, 2022)

Selling price: $640,000 (June, 2022)

Taxes: $1,906 (2022)

Days on the market: Seven

Listing agent: John Genereaux, Sotheby’s International Realty Canada

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The action

Agent John Genereaux expected this three-bedroom townhouse, in a softening market, might require a couple of weeks of promotion. It might take even longer, given that there was competition from two similar units listed in the same complex in Milton, a suburb roughly 50 west of downtown Toronto.

“We felt buyers were waiting to see what interest rates were doing so they could get the greatest value, so we guesstimated it would take up to 14 days to sell,” Mr. Genereaux said.

“But we knew it was well priced so it wouldn’t take a month.”

To strengthen this unit’s appeal it was staged and the status certificate provided to prospective buyers. Two purchase offers were made.

“The first party loved it, but they had a few conditions my clients weren’t comfortable with,” Mr. Genereaux said.

“The next buyer didn’t want to get into competition, but because they knew there was interest, they came in with no conditions and a deposit, so my clients said that was perfect.”

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What they got

This 47-year-old home has 1,162 square feet of living space with updated heating and cooling systems, new kitchen flooring and a finished recreation area in the basement.

A wide backyard deck is accessible from the living and dining area.

Surface parking is included. Monthly fees of $378 cover water.

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The agent’s take

“Because of the price point, there were a lot of first-time homebuyers or someone who wanted to move up from a condo to a townhouse,” Mr. Genereaux said.

“What we did have that was unique was it backed onto a park, so it was private.”