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Originally Posted by mykalberta
The bidding is crazy, for a moderate location - there was one in Parkhill (1Bd 1Bt 730 sq ft, 190K 280$ CF) would have been a bit of a trek to get to the Eau Clair YMCA but I am young  .It came online on last week (Saturday I think) morning and was sold by 8pm that evening. This is the first property I bid on with the assitance of a Realator, we went there, I looked at the place. I had a contractor along to look at the outside foundations, etc (the building manager wouldnt let him in without owner permission - owner lives in TO and realtor wouldnt allow it). The contractor I had brought in found sealant that looked to be covering what could be serious foundation problems - called his buddy and said he worked on a place about 3 blocks away (condo was 1 block from Elbow) who said the water level had risen so much that a place right on the river had to have serious work done to it. To make a long story short I felt I needed a document inspection and mtce inspection done, there were 7 bidders so I bid 198 K and was again subsequenlty tied for the bid, but lost because of conditions (seller(s) realator came to me and offered it without the conditions - I said I would forgoe the mtce inspection but not document inspection, offered to put 10K down and seller realator refused - a few days later my realator asked around and place when for 198K, no conditions. As of today its still pending so it looks like there might be fnancing problems - here is hoping. |
First let me say that I have no idea which building in Parkhill it is that you are referring to, but I do know that there is a building in the area that has a very dicey history, so you are smart not to put in an unconditional offer.