Determined buyers pay $265,886 over asking for Guelph, Ont., home

Forest Hill Real Estate Inc.

2 Zess Court, Guelph, Ont.

Asking price: $1,249,900 (March, 2022)

Selling price: $1,515,786 (March, 2022)

Tax: $6,021 (2021)

Days on the market: Two

Buyers’ agents: Rahim Suleman and Cori Endrody, Forest Hill Real Estate Inc.

The action

The bungalow was built 14 years ago by Reid’s Heritage Homes and has 1,630 square feet of living space.Forest Hill Real Estate Inc.

Suburban homeowners near Guelph were looking for a detached house with lots of land near the university. They were outbid on their first choice but had better luck with this two-bedroom bungalow on a 77- by 108-foot lot. To get ahead of any competing buyers they made a pre-emptive offer $265,886 over the asking price.

“The house we lost on before that had four other offers, plus us, so we lost by about $50,000, and we had come in several $100,000s already above asking,” said the buyers’ agent Rahim Suleman.

“As soon as we saw this, we went to see it right away and put in a really strong offer because they really wanted the house.”

What they got

The open kitchen and dining area has access to an upper deck.Forest Hill Real Estate Inc.

This bungalow was built 14 years ago by Reid’s Heritage Homes and has 1,630 square feet of living space. It is also topped with solar panels. A supply contract with Ontario Hydro to sell the power back to the provincial electrical grid, valid through to 2031, generates income of $6,000 to $7,000 a year.

Inside, there is a living room and an open kitchen and dining area with access to an upper deck. The rest of the main floor is filled out with two bedrooms, two full bathrooms and a laundry room with entry to a double garage.

The basement suite has a kitchen and bathroom, in addition to a guest bedroom and a recreation area with a gas fireplace and sliding doors to a south-facing patio.

The agent’s take

The basement suite has a recreation area with a gas fireplace and sliding doors to a south-facing patio.Forest Hill Real Estate Inc.

“Reid’s Heritage Homes is one of the best builders in Guelph,” Mr. Suleman said.

“It’s got rooftop solar panels in the contract still in place until 2031, so that was also really attractive.”

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