A dilapidated home in Leslieville with no door and no windows has been sold for $9,900 below asking price.
Clearly the owner of the eyesore at 28 Woodfield Road has been desperate to get rid of the property; just two weeks ago the price had already been bumped down to $699,000 from its original $800,000.
The property sold shortly afterward for $690,000 which is exactly 98.8 percent of the asking price.
While the term 'asking price' is commonly used in tandem with gimmicks meant to stir bidding wars over properties that have already been undervalued, it's obvious there was no such turf war over the sad little bungalow near Coxwell and Eastern Avenue.
The buyer – whoever they are – will now certainly tear down the existing structure deemed unsafe by real estate agents to build a new home on the 20 by 117-square foot lot.
Undoubtedly its replacement will be worth far more than the coveted Leslieville real estate was bought for.
by Tanya Mok via blogTO