Saturday, October 31, 2009

Really Crazy Estate

When Amanda Cohen and Noah Segal received multiple offers on their semi-detached downtown Toronto home Sunday, one stood out. Along with a written bid, the potential buyers included a video presentation with a unique message.

"They showed their baby 'signing' the offer and told us how much they loved our place," says Cohen. "I thought it was brilliant. We were really moved."

Chocolates. Maple Leafs tickets. Handwritten notes and personalized videos. Bidding wars for Toronto real estate are once again percolating, with desperate buyers trying to make an impression however they can. The phenomenon, say real estate insiders, speaks volumes about the city's housing market.

"People are now making audition tapes begging you to let them buy your house, and by the way, they'd also like to give you more money than you asked for. How outrageous is that?" says Bernard Lang, a Toronto investor in rental properties.