On Friday, a $1 house in Toronto sold after getting an offer that was far higher than the asking price. The house, which is located at 28 Mackinac Crescent in Toronto’s Bendale neighbourhood, was listed on November 12 for $1,250,000. However, by the time the house was up for sale, the price had reduced to only $1 — a sales approach that some Toronto realtors have used to gain an edge in today’s ultra-competitive market.
The buyers received a cosy red-brick cottage with six bedrooms (three of which are in the basement) and two baths for that sum. The house, while charming, is situated on a spacious 40125-foot lot.
The house was recently restored on the interior, with new flooring, bathrooms, and a kitchen installed earlier this year. Even though it’s a smaller home, the upstairs bedrooms are roomy and have large windows, so you won’t feel confined.
The other three bedrooms, as well as another kitchen with an eat-in island and one of the bathrooms, are located in the basement. It would absolutely be possible for the new owners to rent out the space for extra money. At the top of the basement stairs, there’s even a side entry to the house, providing a convenient private entrance to the bottom floor.
In Toronto, having a large backyard is in high demand, so even if this home’s yard isn’t very large, it has limitless potential.
We’d like to know what additional price points were offered for this house, given that the $1 price tag left the offers open-ended.