Eric Glazenberg

Insane Multiple Offers on 9 Ruben St.

14 March 2016
Eric Glazenberg

I first suspected that 9 Ruben Street in Whitby would be a stand-out listing during my initial walk-through of the home.  Great layout, nice finishes and family friendly location were all pluses.  Combine that with the entry-level price range of $500,000ish and the fact that the Whitby market is in an affordable listing drought, and you’ve got the recipe for multiple offers!

Being underpriced at $450,000 and holding back the presentation of offers for a week, we received 22 showing requests the 1st day, and had calls that day from 8 agents wanting to make pre-emptive offers.  All bully offers were declined and the showings continued en mass, along with a couple busy weekend open houses, and a couple dozen phone calls from interested realtors.

Offer day finally arrived and buyer agents began registering offers.  At a pace of 4-6 registrations per hour, the offers came quickly and by the time we were ready to review, we had an incredible total of 31 registered offers!  Agents were instructed to bring their highest bid as the opportunity for improvement might not be available.  Offers were extremely competitive – they came in well above the asking price, with most having no conditions and being accompanied by bank drafts.  A leading pack of 4 extremely competitive bidders were given an opportunity to improve, and after the 2nd round, we had a lucky winner.  9 Ruben Street ended up smashing any existing records for similar homes, selling for $570,000, which was $120,000, or nearly 27% above the asking price.

And so the evening ended with a very happy buyer couple, a pair of ecstatic sellers and a bottle of champagne.

Congratulations to all!