Sale of the week: The $2.1-million Dufferin Grove home that shows how bidding wars are created

SALE OF THE WEEK: THE $2.1M DUFFERIN GROVE HOME THAT SHOWS HOW BIDDING WARS ARE CREATED

Kelly Reid, Toronto Life 

Image courtesty of: The Print House

Neighbourhood: Dufferin Grove
Previously sold for: $396,000 in 2003

The Property - 

A four bedroom home that went for more than $800,000 over asking.

The History - 

The sellers have lived in the home for 16 years. The latest renovations date from 2010, when they extended the main floor, remodelled the kitchen and finished the basement. They also added built-in speakers and sliding doors. Now, as their children get older, they're moving to an even bigger house elsewhere in the city.

Here's the living room:

Image courtesty of: The Print House

The dining area:

Image courtesty of: The Print House

And the kitchen:

Image courtesty of: The Print House

There are two bedrooms on the second floor. Here's one of them:

Image courtesty of: The Print House

There are two bedrooms on the second floor. Here's one of them:

Image courtesty of: The Print House

And the master bedroom, with its own fireplace:

Image courtesty of: The Print House

The main bathroom:

Image courtesty of: The Print House

There are also two bedrooms on the third floor. This one:

Image courtesty of: The Print House

And this one:

Image courtesty of: The Print House

The basement is finished:

Image courtesty of: The Print House

The Fate - 

The buyers are from Toronto. They loved this place's proximity to Dewson Street Junior Public School. That, plus the generous floor plan, convinced them that this would be the perfect long-term family home.

The Sale - 

The agent prices the house well below market value, hoping to get as many eyes on it as possible. To accommodate showings, the sellers and their children went on vacation for a week and came back on offer day. The listing agent told bidders that there would only be one round of offers, which incentivized all of them to bid as high as they possibly could, right off the bat. In the end, 17 offers came in. The winning bid was $815,131 over the asking price.

By the Numbers - 

• $2,100,131
• $5,409 in taxes (2016)
• 2,800 square feet
• 6 days on the market
• 4 bedrooms
• 3 bathrooms