This Toronto house is on sale for $1
It's unclear exactly how long 36 Bannatyne Drive has sat unoccupied.
But from the listing history it looks like it's been empty since 2013 and the current owners have been either trying to sell it or rent it out for most of those nine years. Although, it doesn't seem like they were successful ...
Why? Well your guess is as good as ours since the realtor didn't respond to blogTO in time for publication, but it's probably just a sales tactic.
So what do you get for a loonie? Well despite the deceivingly cute exterior brickwork , the home, as it stands now, likely isn't worth much since it's being sold "as is, where is".
There's no telling what shape the interior is in because there are no recent photos of the inside of the home. But from previous listings, the inside seems quite dated and in need of a lot of work.
That being said, no one is here for the inside of the house. The land 36 Bannatyne Drive sits on is what we're all here for.
The home sits on over 20,000-square-feet of land surrounded by trees. It backs onto a conservation space, so your backyard feels more like you're in Muskoka than Toronto.
The home also comes with a drawing of a 6,887-square-foot custom home with 14-foot ceilings and a walk out basement. But it does kind of look like a home you'd build in The Sims.
So not sure the drawing is a selling point, but something that is potentially a selling point is the fact that the seller is willing to consider a "vendor take-back mortgage".
For the uninitiated, a vendor take-back mortgage is when the seller of the home extends a loan to the buyer for a part of the sales price.
The seller keeps equity in the home and continues to own a percentage equal to the amount of loan until the vendor take-back mortgage is paid in full.
So, for anyone struggling to secure a mortgage this could be a possible solution. But who needs a mortgage when it's only $1?
Kidding. This house is gonna go for at least $2 million.
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