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
Police arrest 3 Indian nationals in killing of B.C. Sikh activist Hardeep Singh Nijjar
Three people have been arrested and charged in the killing of B.C. Sikh activist Hardeep Singh Nijjar – as authorities continue investigating potential connections to the Indian government.
Five areas Canada's foreign interference commissioner says needs more investigation
Commissioner Marie-Josee Hogue released her interim report examining foreign election interference on Friday. Here are five elements of the issue that Hogue says she needs to further probe before she can make conclusions or recommendations.
Police officer hit by driver of fleeing vehicle in Toronto
York Regional Police say they are continuing to search for a suspect in an auto theft investigation who was captured on video running over a police officer in Toronto last month.
Why your airfare may be getting more expensive
Skyrocketing airfare prices are linked to heightened competition and rising food and fuel, according to the CAA.
TD worst-case scenario more likely after drug money laundering allegations: analyst
TD Bank Group could be hit with more severe penalties than previously expected, says a banking analyst after a report that the investigation it faces in the U.S. is tied to laundering illicit fentanyl profits.
New weight-loss drug Wegovy not a 'magic bullet,' doctor warns
As Wegovy becomes available to Canadians starting Monday, a medical expert is cautioning patients wanting to use the drug to lose weight that no medication is a ''magic bullet,' and the new medication is meant particularly for people who meet certain criteria related to obesity and weight.
Drew Carey is never quitting 'The Price Is Right'
Drew Carey took over as host of 'The Price Is Right' and hopes he’s there for life. 'I'm not going anywhere,' he told 'Entertainment Tonight' of the job he took over from longtime host Bob Barker in 2007.
Manitoba man sentenced to house arrest for keeping fishing tournament funds meant for Children's Hospital Foundation
A Manitoba man who pleaded guilty to keeping the funds raised from an ice-fishing fundraiser for the Children's Hospital Foundation of Manitoba has been handed a sentence of 18 months house arrest.
Funeral today for broadcasting legend and voice of 'Hockey Night in Canada' Bob Cole
A funeral is being held today for hockey broadcasting legend Bob Cole in his hometown of St. John's, N.L.