Second bidder takes Toronto house after first offer falls through on financing

248 Joicey Blvd., Toronto

Asking price: $2,148,000 (May, 2022)

Selling price: $2,089,000 (May, 2022)

Taxes: $6,214 (2021)

Days on the market: Nine

Listing agent: Andrew Ipekian, Keller Williams Referred Urban Realty

The action

There were two offers for this 1½-storey house. The first offer was accepted but came with conditions and a stumble with financing soured the bid. A second offer slightly under the asking price was then considered and accepted.

“We had sold it initially only after a couple days on the market, but they couldn’t get their financing in time,” agent Andrew Ipekian said.

“When I sensed they were looking for an extension and needed more time, that’s when I called someone else who had seen the property and said they could buy it.”

What they got

This roughly 50-year-old house has an updated, two-bedroom design and a built-in garage converted into a four-season space.

The living room has a fireplace and the central dining area opens to a kitchen with marble flooring, pot lights and stainless steel appliances.

One bedroom is on the main floor, next to a den with double doors to a deck and interlocking stone patio.

The lower level has a recreation room and one of home’s three bathrooms.

An in-ground saltwater pool is at the back of the 40- by 115-foot lot.

The agent’s take

“It’s a smaller home, but renovated and still looked nice, so it wasn’t a teardown,” Mr. Ipekian said.

“You want bigger, nicer and brand-new homes all around you because that’s the number one thing that will drive up your property value in the future.”

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