Baby Point home ready for online bidding with popular new auction platform
TORONTO, ONTARIO, CANADA, December 3, 2018 /EINPresswire.com/ — On the heels of perhaps the wildest real estate auction Ontario has seen, there is a new property hitting the market with the same transparent approach.
On Tuesday December 11, a beautiful home in the Lambton-Baby Point community of Toronto will be up for online auction. The newly listed home will be available for private showings until that time.
This home is listed for auction just a couple of weeks after 6 Mozart Avenue, a Scarborough home sold using the same auction platform, seeing 45 bids and a frenzy of activity. In a process that allowed participants and curious visitors to watch the action unfold online, the auction showed how open bidding can actually benefit both the seller and the buyer in this unpredictable real estate market.
On The Block Realty, a real estate brokerage based in the Toronto area, has been providing open auctions as a listing option for sellers around the GTA for over a year. The process is identical to the traditional listing process, but the arrival at a final price is transparent and takes the ‘silent’ out of bidding wars that have become all too common.
All participants and viewers can see the high bid and can also review all the information about the property including home inspection, neighbourhood details, and even the purchase contract they will be signing. Registering to view all the documentation is free at the auction’s website.
There will be open houses on Saturday December 8 and Sunday December 9 from 2:00-4:00.
Understanding that there are potential buyers who won’t want to wait until the auction, or those more comfortable with the traditional process, there will still the opportunity to make an offer before the auction begins.
The open bidding approach made news recently with the Ontario Real Estate Association recommending that sellers should have the option to choose an approach that is transparent and open for buyers. With a transparent auction, all bidders will know exactly what price to offer to be in the lead, and while it will ensure the seller gets the best possible price, it also will ensure that every buyer is comfortable and confident with their decision.
Viewings of the home can be booked either through a buyer’s Realtor, MLS or on the auction's website.
On The Block is the product of Katie and Daniel Steinfeld, two GTA Realtors with an extensive background in finance, marketing and sales. As platforms like Uber and Airbnb have disrupted their spaces, On The Block is positioned to challenge a real estate process that for too long hasn't seen significant change. With transparency in constant question, and affordability diminishing, it's more important than ever to give people some choice and power in the biggest purchasing decision of their lives.
Source: EIN Presswire