Sale of the Week: The $2-million Lytton Park home that proves the first offer isn’t always the best

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Published on: December 6, 2016

Address: 549 Briar Hill Avenue
Neighbourhood: Lytton Park
Agent: Adam Wolman, Keller Williams Referred Realty, Brokerage
 
 
 

The property

A 1930s home with a preserved interior, located a 15-minute walk north of Eglinton.

The house still has much of its original wainscotting and wood trim:

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There’s some leaded glass in the living room:

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Here’s the dining room, with more of that dark wood:

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The kitchen, with a small eating area in the rear:

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There are three bedrooms on the second floor. This one is being used as a den:

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Another bedroom:

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And the master bedroom:

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The three bedrooms share this bathroom:

toronto-house-sold-549-briar-hill-avenue-9

The basement is finished:

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And there’s a covered porch out back:

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The history

The sellers, who bought the place in 1986, lived there for 30 years without making major alterations. Now that they’re spending their winters in Florida and don’t need the space, they’re downsizing to a condo.

The fate

For the buyers, the fact that the house still had many of its original fittings—including its dark wainscotting—was a bonus. They’re still deciding whether they want to live in the house themselves or rent it out.

The sale

The agent decided to price the place slightly under market value to generate interest. There was an offer on the first day, but the sellers decided not to accept. After four days, there were six offers, which led to the hoped-for bidding war. The winning bid was for $450,000 over the asking price.

By the numbers

• $1,950,000
• $6,786.00 in taxes (2016)
• 1,800 square feet
• 4 days on MLS
• 3 bedrooms
• 2 bathrooms

Article source: http://torontolife.com/real-estate/houses/toronto-house-sold-549-briar-hill-avenue/

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