August 2009 Weddings
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zomg. We sold the condo.

It sold for 99% of asking, within 14 hours of listing. Our agent says that's a new record for him.

We are stunned.

On the one hand, we are thrilled that it's all done and we don't have to worry any more about showings and whatnot. Based on comparables, it seems like the right price. It's probably the top price that this type of unit has ever gotten in our building. We actually had 2 other potential offers - 1 was very low, and 1 didn't even bother to compete when they heard that there was another offer.

On the other hand, we can't help but second guess ourselves... should we have waited longer and could we have generated a bidding war? My dad seems to think that all this interest shows that we were underpriced... but my dad is a little unrealistic sometimes. (When we were looking, he suggested neighbourhoods that were $100k+ out of our price range.)

I hate to sound greedy but it all happened so fast and it's just such a big decision, ya know? I know we should be happy that it's all done and we got what we wanted.

A similar unit sold about a week ago, with parking (we don't have parking). We are waiting for the update on the sale price, but if they sold for what I think they sold for, then we are bang on. And, I honestly think that the people who came to look on the very first day were the most serious buyers.

kaesha - I'm checking with the agent whether Sherlock can come home, or needs to stay on vacation with the squirrels a bit longer. The buyer is entitled to 2 visits before closing and I'm not sure whether it's OK to have a pet around for those.

ETA: Please reassure me that we did the right thing... I need support right now!

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Re: zomg. We sold the condo.

  • That's great news!  Everything is falling into place!  
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  • You totally did the right thing by taking the sure deal that got you guy what you wanted/needed in order to get out.  You have no idea what would happen if you waited and then you might have really been in a bind.  And I agree that must have been some record for selling a place.  Congratulations!!
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  • That's great.  If you guys did your research on the comps, then I'm sure you listed at the right price.  IMO places that are sold right away and close to asking aren't because they are listed too low.  It's because they are great places, in great locations, priced fairly, and have a serious buyer who wants to purchase before the unit gets snatched up.  FWIW, there is a unit in my building that is listed way below market and has been sitting there for 8 months.  See, nothing to do with pricing.
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  • imagerebaann:
    You totally did the right thing by taking the sure deal that got you guy what you wanted/needed in order to get out.  You have no idea what would happen if you waited and then you might have really been in a bind.  And I agree that must have been some record for selling a place.  Congratulations!!

    This exactly.  I know Toronto is a bit anomalous when it comes to the housing market, but I think you made the right decision.  I mean just the reduced stress of having this over with has to be worth, what, at least a few grand? Wink

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  • imageraynes:

    imagerebaann:
    You totally did the right thing by taking the sure deal that got you guy what you wanted/needed in order to get out.  You have no idea what would happen if you waited and then you might have really been in a bind.  And I agree that must have been some record for selling a place.  Congratulations!!

    This exactly.  I know Toronto is a bit anomalous when it comes to the housing market, but I think you made the right decision.  I mean just the reduced stress of having this over with has to be worth, what, at least a few grand? Wink

    I have to say... we were supposed to have a showing at 10:30 this morning. The ability to cancel that, not have to clean the place and sleep in (for V, who was completely drained of course) was gold.

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  • Congratulations!  I say you did it all right, and had a good property to offer at a good price.  Take it and run.

     I gave up on selling my house after 6 months of trying, no reasonable offers, and too many under market short sales to compete with.  We're going to try again in a couple of years. 

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  • imageNeptoonGrl:
    That's great.  If you guys did your research on the comps, then I'm sure you listed at the right price.  IMO places that are sold right away and close to asking aren't because they are listed too low.  It's because they are great places, in great locations, priced fairly, and have a serious buyer who wants to purchase before the unit gets snatched up.  FWIW, there is a unit in my building that is listed way below market and has been sitting there for 8 months.  See, nothing to do with pricing.

    I completely agree.

    Just think about how much you could be stressed out if it sat on the market for a long time. You don't need to be dealing with that kind of stress right now. Be excited that you got 99% of your asking price stress-free. Congrats!

  • Congrats ringy.... and yes, I'd just be happy that the door is shut and you wont have headaches of carrying two mortgages or something not working out... seems like best case scenario...

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  • congrats, ringy! you definitely made the best decision. who knows how long it would've taken for it to sell, and you're getting what you're asking, which is a huuuuge plus!
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  • You did the right thing, and congrats! Now you can make your transition with peace of mind and focus entirely on your new place.
  • Congrats!!

     

    You totally did the right thing - my parents sold their house a few months ago, and had turned down the first offer b/c they thought they could get a higher one.  Like yours, the first offer had come VERY quickly after listing.  Turns out, the first offer WAS the highest offer they ever got, and they had to eventually settle on a lower offer.  So don't think just b/c it's the first offer that it's not the best. 

  • Congrats, you definitely did the right thing!  There are way too many cases of people holding out on the first couple of bites and then months later they have to worry about two mortgages.  The uncertainty and lack of stress alone are reasons for me to know you did the right thing.
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  • Congrats Ringy! That is great news.  I agree that you did the right thing.  With the way the market is, it could have been on much longer.  That would have been way more stressful.  I am very truly happy and excited for you.
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  • holy moly! you absolutely made the right choice! congratulations!
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  • From someone who had to pay  rent and a mortage because their condo wouldn't sell, you did the right thing. Relax, enjoy it, and just think you'll be in your new house soon!
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  • Wow! Oh my goodness, that was fast! That is really great news and I definitely think you did the right thing.
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  • I'm sure you did the right thing and were smart enough to do some research before you listed. I'm so happy that you were able to sell so quickly.
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  • Aw, I'm so happy for you! I'm sure it was priced at the right amount - yes, you might have been able to get more, but the piece of mind at being able to relax about the whole thing is well worth it.

    We're happy to keep Sherlock for as long as you need us to! He's such a lovely, friendly cat.

  • This is great news! I'm so glad this worked out so well for you guys. Also 99% of your asking price is really great,
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  • That's amazing Ringy!  It sounds like you did your homework so I'm sure it was the right decision, and I agree with everyone else that the relief of knowing it's all set is worth its weight in gold.  Big week for you guys!

    Now jumping domestically.

    image

    Well that was a crazy couple of years.

    imageimageimage

  • Wow!  So quick!  I think you made the right decision.  Must be a huge relief to just have it done with.  Congrats.
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  • Woo hoo! I say to get very close to your asking price and so quickly, you guys did the right thing. Now you are steps closer to your place.
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