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Bidding war for midtown home nets owner almost double the asking price
A home near Yonge Street and Lawrence Avenue sells for almost double the listing price
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A bidding war for a home in midtown netted the seller almost double the asking price
Photo: CTV News

A home in the Yonge Street and Lawrence Avenue area has sold for almost double the asking price.

The owner listed the old, 2-story, 5-bedroom detached house on Glencairn Avenue for $699,000, expecting to fetch somewhere in the neighbourhood of $1.1 million.

When all was said and done, a total of 72 bids from potential buyers came in and the home, on a 30-foot by 127-foot lot, sold for $1.366 million -- about 195 percent of what it was listed at.

The real estate agent who sold the home admits that he low-balled the initial price by about $400,000 but adds that the building is a classic 'fixer-upper.'

The house was sold "as-is" and the agent estimates about $300,000 worth of renovations is needed.

The buyer lives in the neighbourhood and plans to live in the home.

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A bidding war for a home in midtown netted the seller almost double the asking price
Photo: CTV News

A home in the Yonge Street and Lawrence Avenue area has sold for almost double the asking price.

The owner listed the old, 2-story, 5-bedroom detached house on Glencairn Avenue for $699,000, expecting to fetch somewhere in the neighbourhood of $1.1 million.

When all was said and done, a total of 72 bids from potential buyers came in and the home, on a 30-foot by 127-foot lot, sold for $1.366 million -- about 195 percent of what it was listed at.

The real estate agent who sold the home admits that he low-balled the initial price by about $400,000 but adds that the building is a classic 'fixer-upper.'

The house was sold "as-is" and the agent estimates about $300,000 worth of renovations is needed.

The buyer lives in the neighbourhood and plans to live in the home.

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