A good, old-fashioned bidding war is about to unfold in Toronto’s Junction neighbourhood.
At a time when almost no one can afford a home in Toronto, one homeowner is offering his house for just $1. It’ll start there, anyway.
While the property could theoretically be yours for a loonie, the ensuing auction will likely drive the price up to somewhere around market value – just under $900,000, for which it was previously listed and didn’t sell.
“The housing market here is crazy,” said Manjit Singh of HomeLife Superstars Real Estate Ltd., who put up the house (his own). “The dollar is going to get a lot of interest so we’ll get the highest possible price.”
While the home is all fine and well, the listing is quite the gem: “!!!! Wow Wow Wow , Absolutely Stunning, Gorgeous Etc Etc … Simply Words Can’t Describe This Beauty,” it reads.
“!! Best Offer Wins For Sure 100%.”
Except not really – Singh says he won’t sell it for less than $700,000.
Bidding commences today.