Toronto Homeowner to Auction Off House Today – Bidding Starts at Just $1

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.

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“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.