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August 15th, 2025Olea in the News
Globe and Mail Article: Multiple offers for Etobicoke bungalow in need of a refit
“All the [original] offers unfortunately had conditions, so the seller ended up going with the offer with the least conditions,” Ms. Ravji said.
“We had four separate parties who put in offers, but if I looked at how many offers I received from these four, it would be about 10 because some kept putting in an offer a week later, two weeks later.
Listing agents: Munira Ravji and Elias Ben Khelifa, Engel & Völkers Toronto City
The Action
The agent said this property’s large lot could accommodate three or four townhouses if a buyer was interested in rebuilding. Engel & Völkers Toronto City
This 82-year-old bungalow on a 47- by -125-foot corner lot across from Mimico Memorial Park was priced under $1-million in recognition of its shortcomings, such as a dated design and proximity to busy Royal York Road. Nearly two dozen guests toured the premises, and three offers were presented.
“At $999,999, we were getting a ton of first-time homebuyers,” agent Munira Ravji said. There were also “a few young couples who just got married and wanted a fixer-upper project, but said it was way too much work.
“This lot can accommodate three to four townhomes in terms of zoning, so we did get a few developers that came through.”
One early offer quickly fell apart, but a new offer took its place, while another bidder refined their proposal.
“All the [original] offers unfortunately had conditions, so the seller ended up going with the offer with the least conditions,” Ms. Ravji said.
“We had four separate parties who put in offers, but if I looked at how many offers I received from these four, it would be about 10 because some kept putting in an offer a week later, two weeks later.
“It was so complicated and so stressful.”
What they got
Multiple offers with multiple revisions made the selling process on this home complicated and stressful, the agent said. Engel & Völkers Toronto City
This brick bungalow with an attached garage contains two bedrooms and a four-piece bathroom, along with the standard living room, dining room and kitchen.
The basement apartment also has a kitchen and living room, one bedroom and a bathroom.
The roofing is fairly new and there are two backyard sheds.
The Agents take
“This neighbourhood, you’ll see renovated houses going for $1.5-million, $1.6-million or closer to $2-million,” Ms. Ravji said.
“It’s a really mature, family-oriented neighbourhood, right next to a huge park.”
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