How Did a Mississauga Home Sell for Just Under $1M With 85 Offers?

How Did a Mississauga Home Sell for Just Under $1m With 85 Offers?

An unexpected event occurred in the Mississauga area. A three-bedroom property was put up for sale at an amount much less than the market value. It is definitely not what we expected, said Justin Bregman, the founder of Justin Bregman and Associates. 

Justin Bregman is a person who helps people buy and sell houses. He believed that if the price of the house was reduced, more buyers would come forward. 

Channing Prater is a home-finding expert. Since there were not many other homes like it for sale in the neighborhood, he was confident the house would sell for more than the selling price.  

Channing Prater said there were only about 16 houses like this one for sale nearby. When people saw this house, they really wanted it. 

Bregman, the listing agent, admitted that the house was intentionally placed at a low price, near the amount it sold for in 2017. He estimated that the three-bedroom house sold for seven to ten percent more than its estimated $930,000 market value.

The home was the subject of about 85 offers. Realtor Desmond Brown of Toronto says he has never had 85 offers on a single home. 3479 Longleaf Crt. is a semi-detached, two-story home that was listed for $749,000 and was sold for $999,999. 

After three weeks of hunting, the young, first-time buyer couple represented by Channing Prater placed the winning offer. The people selling the house picked the best buyer because their offer had no conditions, they gave them a deposit cheque and agreed on the date the sellers wanted to close the deal.