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Toronto Real Estate Vaughan, Ont., home’s third price drop is buyers’ cue to bargain

Re/Max Realtron Realty Inc.

18 Getz Park, Vaughan, Ont.

Asking price: $1,399,000

Selling price: $1,347,000

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Previous selling prices: $433,666 (2004); $140,000 (2003)

Taxes: $6,244 (2018)

Days on the market: 54

Co-op agent: Vadim Vilensky, Re/Max Realtron Realty Inc.

The action

Two townhouse residents went shopping for a larger property in Vaughan with a budget pegged at about $1.1-million, but every time they found a property worth putting an offer in on, they were outbid by other shoppers.

This two-storey residence was beyond their budget, even after the asking price was twice reduced from $1.688-million. But, with a second entrance to a finished basement, the opportunity existed to convert that into a into a rental unit to offset some of the cost. After a new agent relisted the property with an asking price of $1.399-million earlier this year, the couple were able to negotiate a deal.

“The third time [the sellers] reduced the price, they changed the agent, so that’s when I knew they really wanted to sell this house and we needed to get there with an offer,” the buyers’ agent Vadim Vilensky said.

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“There is potential to create a secondary apartment … so this home might seem more expensive, but in the long term it’ll make sense to buy it.”

What they got

There are hardwood floors and pot lights in the living and dining areas and a gas fireplace in the family room.

Re/Max Realtron Realty Inc.

On a short street with a ravine at one end and a library and community centre at the other, this 17-year-old house on a 45-by-85-foot lot has roughly 2,800 square feet of living space and a built-in double garage.

There are hardwood floors and pot lights in the living and dining areas and a gas fireplace in the family room. The adjacent eat-in kitchen is outfitted with ceramic floors and back splashes, an island, stainless steel appliances and a glass door to the backyard.

The agent’s take

The eat-in kitchen is outfitted with ceramic floors and back splashes, an island, stainless steel appliances and a glass door to the backyard.

Re/Max Realtron Realty Inc.

“It has four bedrooms and three bathrooms upstairs, and it’s a true family home with a library and school within walking distance,” Mr. Vilensky said.

“One thing I really liked about this home is it’s on a street that faces a ravine. The last home sold there was in 2013.”

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