Sale of the Week: The $1-million Scarborough house that proves not every property sells on the first try

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Published on: January 10, 2017

Address: 46 Monastery Lane
Neighbourhood: Clairlea-Birchmount
Agent: Joe Cicciarella, Real Estate Homeward, Brokerage
Previously sold for: $297,568, in 2000
 
 
 

The property

A Scarborough home that shows the importance of the right offer timetable.

Here’s the living room:

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The family room, looking very pink:

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The kitchen:

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And the breakfast area, with a view of the backyard:

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There are four bedrooms on the second floor. This one is set up as an office:

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Another bedroom:

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In house full of daring colour schemes, this one stands out:

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And here’s the master bedroom:

toronto-house-sold-46-monastery-lane-9

And the master ensuite:

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The basement has new laminate flooring:

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The back deck:

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With a spiral staircase down to ground level:

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The history

The sellers bought the house after it was built in 2000, and they’ve made some upgrades over the past two years. The roof is brand new, and the basement now has a kitchen:

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The fate

The buyers are moving from outside Ontario, so their priorities were transit and schools, both of which this neighbourhood has in spades. The sliding door entrance to the basement suite means it could be rented out—but for now it will be owner-occupied.

The sale

At first, the house was listed at $989,900, with offers held back for seven days. When nothing came in, the sellers relisted at $1,039,900, with offers accepted any time. After two weeks with no hits, they relisted again at $989,900—again with offers accepted any time. This turned out to be the winning combination. There were two offers that were somewhat close. They accepted the higher one.

By the numbers

• $1,010,000
• $3,756.33 in taxes (2016)
• 1,982 square feet
• 919-square-foot basement
• 5 days on MLS
• 4 bedrooms
• 4 bathrooms

Article source: http://torontolife.com/real-estate/houses/toronto-house-sold-46-monastery-lane/

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