Motivated sellers accept offer below what they paid

The action

One of the owners of this semi accepted an out-of-town job offer, which meant selling a house they had bought just two years previously. Eager to quickly find a buyer, they listed the property for $50,100 less than what they paid, despite completing some upgrades, from new wiring to an updated four-piece bathroom. Within two weeks, they had 14 visitors, and an offer with conditions from one buyer. A deal was signed for $1,033,000.

“We knew prices were lower than when they bought,” said agent Christopher Bibby.

“My clients knew they didn’t want to be on the market for two months and then have to drop the price, drop the price, drop the price.

“We went out at a price we knew we’d get people through, and a price people felt they could negotiate. That would make us successful.”

What they got

This two-storey house has three bedrooms upstairs, separate living and dining rooms and a kitchen with stainless-steel appliances.

A rear mud room has an exit to a south-facing yard and a double garage. A parking pad is at the front of the 19-by-110-foot lot.

The basement has two recreation areas and a three-piece bathroom.

The agent’s take

“What made it fairly attractive was that it was a three-bedroom home with parking, and it was turnkey,” Mr. Bibby said.

“There was lots of storage in the backyard, a hot tub and updated gardening.”

The property is also on a dead-end street residents used as an impromptu space to gather.

“What makes Exeter such an exciting street is there are a lot of young families on the street,” said Mr. Bibby.

“Around the corner on St. Clair [Avenue] is a community centre and a skating rink.”