Sale of the Week: the $2.1-million home that shows how a quick closing can work to the buyer’s advantage

Categories: Real Estate News
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Published on: December 15, 2015

(Image: Lianne Gesior)

Address: 228 Lonsmount Drive

Neighbourhood: Forest Hill

Agent: Howard Lende, Forest Hill Real Estate Inc., Brokerage

The property: A two-storey home on an elevated street corner in the heart of Forest Hill, with leaded glass windows and a vintage Tudor look.

The history: The sellers updated the 1936 home’s long-neglected electrical and plumbing systems and completely revamped the kitchen, but had to put the property on the market when their work forced a relocation to Vancouver.

The fate: The buyers, a family from Richmond Hill, were looking to move closer to the city. When they move in, they’ll be near the St. Clair West subway station and Forest Hill Public School. And they’ll be living on a 90-foot lot, meaning the property will have plenty of redevelopment potential, whenever they’re done with it.

The sale: Once it was listed, the home grabbed plenty of attention, but few concrete offers. The sellers wanted to close quickly, so they turned down a conditional offer from a developer that would have netted them a little over asking. The eventual buyers agreed to a closing day at the end of January. After some back and forth, they got the place for $100,000 under asking.

By the numbers:

  • $2,095,000
  • $8,889.39 in property taxes (2015)
  • 95 per cent of list price
  • 79 years old
  • 21 days on the market
  • 6 parking spaces
  • 4 bathrooms
  • 3+1 bedrooms
(Image: Lianne Gesior)
(Image: Lianne Gesior)

Here’s the foyer.

(Image: Lianne Gesior)
(Image: Lianne Gesior)

The living room has leaded glass windows and a fireplace.

(Image: Lianne Gesior)
(Image: Lianne Gesior)

There’s an office adjoining the living room.

(Image: Lianne Gesior)
(Image: Lianne Gesior)

The leaded glass continues in the dining room.

(Image: Lianne Gesior)
(Image: Lianne Gesior)

The kitchen was recently overhauled. It has a limestone floor, marble countertops and a Fisher Paykel fridge.

(Image: Lianne Gesior)
(Image: Lianne Gesior)

There are three bedrooms on the second floor of the house.

(Image: Lianne Gesior)
(Image: Lianne Gesior)

Here’s a bedroom.

(Image: Lianne Gesior)
(Image: Lianne Gesior)

And another bedroom, with edgy Rubik’s Cube art.

(Image: Lianne Gesior)
(Image: Lianne Gesior)

The second-floor bathroom.

(Image: Lianne Gesior)
(Image: Lianne Gesior)

And here’s the master bedroom.

(Image: Lianne Gesior)
(Image: Lianne Gesior)

The master bedroom’s three-piece en suite bathroom.

(Image: Lianne Gesior)
(Image: Lianne Gesior)

The lot is extra-wide, which means a big backyard.

Article source: http://torontolife.com/real-estate/houses/toronto-house-sold-228-lonsmount-drive/

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