Vancouver teardown sells for $1.5 million within 'hours'
Even the real estate agent responsible for the sale is surprised by how quickly a $1.5-million teardown in Vancouver was snapped up.
The two-bedroom home on East Broadway, built in 1927, is uninhabitable. The boards of the wooden stairs are broken, the paint is peeling and stained with water-damage, the entrance is boarded up and weeds have sprouted on the roof.
But none of that mattered.
Usha Naidu of RE/MAX Crest Realty said she never had any doubt the ramshackle house would sell since what is being purchased is the land and not the unsightly abode.
"I knew it would go in a week or two, but not in a couple of hours,” she said.
Naidu said there were five interested parties, with the winning buyer offering full price with zero conditions.
“This is the new norm some of us will have to swallow and deal with, unfortunately,” said Naidu. “There are people who are willing to pay this price.”
She and her buyer are understandably happy about the swift sale.
Naidu says the buyer will likely build a new house on the lot, complete with two mortgage helpers – a legal basement suite and a laneway house.
CTVNews.ca Top Stories
LIVE AT 2:30 MT Evacuation order issued for some Fort McMurray neighbourhoods as wildfire nears
Four Fort McMurray neighbourhoods were ordered to evacuate as a wildfire gets closer to the city.
Maximum payout for LifeLabs class-action drops from $150 estimate to $7.86
Canadian LifeLabs customers who filed an application for a class-action settlement began receiving their payments this week, though at a much lower amount than initially expected.
Alice Munro, Nobel literature winner revered as short story master, dead at 92
Nobel laureate Alice Munro, the Canadian literary giant who became one of the world's most esteemed contemporary authors and one of history's most honoured short story writers, has died at age 92.
BREAKING Toronto's top doctor Eileen de Villa announces resignation
Toronto’s Medical Officer of Health is stepping down.
Latest updates on air quality alerts, and when the smoke may reach Ontario and Quebec
Wildfires have led Environment Canada to issue air quality advisories for parts of B.C., Alberta, Manitoba, Saskatchewan and the Northwest Territories, as forecasters warn the smoke could drift farther east.
BREAKING Sask. man faces 60 charges in child exploitation investigation, with crimes dating back to 2005
Saskatchewan RCMP have revealed that a historic sexual assault investigation has led to the discovery of alleged crimes against children dating back to 2005.
American sought after 'So I raped you' Facebook message detained in France on 2021 warrant
An American accused of sexually assaulting a Pennsylvania college student in 2013 and later sending her a Facebook message that said, 'So I raped you,' has been detained in France after a three-year search.
Are these Canada's best restaurants? Annual top 100 list revealed
The annual list of Canada's top restaurants in the country was just released and here are the places that made the 2024 cut.
1 killed, 3 injured in head-on crash on Hwy. 417 in Ottawa
Ontario Provincial Police are responding to a fatal collision involving two vehicles on Highway 417 in Ottawa's west end on Tuesday morning.