Selling a Difficult Townhouse in a Challenging Location

It was a challenging sale, walk-up townhouse with maintenance fees, facing a big street with a streetcar and police station. Whereas most people would have taken the lazy way out, listed it at an unrealistic and misleading price, only to have hundreds of unqualified people trample through the home, we did it the traditional way.

We gave it the attention it needed. We gave it the proper exposure. We did things the right way. We relied on old school marketing and negotiations.

This is how we did it.

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Selling my newly tenanted King West condo

This was my own property. I hate selling my own properties as it's short term gain, in order to sacrifice long term growth. Inevitably, at some point you have to find an exit though.

The sale of this condo was a complicated story. After the whole heart-felt situation of my previous tenant leaving, I put it up for lease and got 3 offers on it. I accepted one of them, but thought, hey maybe someone would want to buy it with a stellar tenant in place paying market rents. I had a few other pre-construction closings coming up next year, and made some good real estate investments this year already, so this would help fund some of those purchases. If no one bites, I'll just keep this unit.

So after it was leased, I listed it for sale. I ended up with 3 offers to purchase it. The end price was pretty nice, but the problem is that the highest bidder needed the unit for themselves.

This is how we did it.

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