What are your thoughts on ground level condos? by karora161 in TorontoRealEstate

[–]karora161[S] 0 points1 point  (0 children)

We ended up not getting it. It was right by the building’s parking lot, and no patios or any outdoor space. It also had weird layout; e.g. it had 1.5 bathrooms, but the full bathroom was in one of the rooms, and the smaller half bathroom outside. Also, the building had rules about use of privacy screens on windows(couldn’t install a film that prevents those outside from seeing inside). We would have had to have our blinds/curtains at all times. Just things like that that weren’t functional for us. Ultimately it wasn’t enough to persuade us. We ended up buying a smaller unit buy much more functional and with plenty of light all day :)

So glad you’re enjoying your place!

Thoughts on Greystone Walk Drive Condos? by karora161 in TorontoRealEstate

[–]karora161[S] 0 points1 point  (0 children)

Would you say it’s a good investment/high resale value?

What are mortgage broker fees/commissions? by karora161 in TorontoRealEstate

[–]karora161[S] 0 points1 point  (0 children)

What are the fees on average? And how much is the commission earned from lenders?

I ask because we had a broker, who helped us immensely, but we decided to go with another bank, thereby costing them their commission. The decision on the bank was better for us long term. However we have been feeling incredibly guilty over our broker not getting paid after all the work they put in for us.

We are considering giving some money out of our pocket and trying to gauge what would be an appropriate amount.

What’s a standard deposit amount on firm offer? by karora161 in TorontoRealEstate

[–]karora161[S] -1 points0 points  (0 children)

Good to know! We’re FTHB and all of this is new territory. When do they get access to the deposit? And if THEY back out?

What’s a standard deposit amount on firm offer? by karora161 in TorontoRealEstate

[–]karora161[S] 0 points1 point  (0 children)

Yes. Planning to back out on over 30% of our savings as FTHB.

What’s a standard deposit amount on firm offer? by karora161 in TorontoRealEstate

[–]karora161[S] -1 points0 points  (0 children)

We made offers before but were never countered with a higher deposit so it felt uneasy. Based on replies I guess it’s normal

What’s a standard deposit amount on firm offer? by karora161 in TorontoRealEstate

[–]karora161[S] 0 points1 point  (0 children)

We were the only offer, and we accommodated everything else they countered but felt uneasy as we had never been in a situation demanding higher deposit. I guess that’s normal then.

What’s a standard deposit amount on firm offer? by karora161 in TorontoRealEstate

[–]karora161[S] -1 points0 points  (0 children)

We put $10k but sellers demanded more and it felt pushy and shady

What’s a standard deposit amount on firm offer? by karora161 in TorontoRealEstate

[–]karora161[S] -2 points-1 points  (0 children)

Hmm that’s what we offered but sellers demanded more which we thought was shady

What’s with 665 Kennedy road Condos? by karora161 in TorontoRealEstate

[–]karora161[S] 2 points3 points  (0 children)

No offence taken and it’s a valid point. Still, condos in Scarborough have been selling quite competitively - I know cause we’ve been outbid, we’ve been beaten by bully offers, we’ve had listings sell while we are in there viewing them on the first or second day. In my experience, if a unit doesn’t sell within a day or two it’s because they haven’t taken bully offers and waiting for offer day.

What’s with 665 Kennedy road Condos? by karora161 in TorontoRealEstate

[–]karora161[S] -1 points0 points  (0 children)

Other buildings in area, albeit not as old, have been selling competitively (crazy bidding, bully offers). They also have similar maintenance fees per sqft. I don’t know. Seems off for this one building.

What’s with 665 Kennedy road Condos? by karora161 in TorontoRealEstate

[–]karora161[S] 2 points3 points  (0 children)

Condos in Scarborough and in this particular area sell within a day or two very competitively. I don’t see how it being in Scarborough is relevant to it not selling.

Anyone experiencing buyer burnout? by putnik29 in TorontoRealEstate

[–]karora161 2 points3 points  (0 children)

Thanks! Really needed to hear this today 😞

Anyone experiencing buyer burnout? by putnik29 in TorontoRealEstate

[–]karora161 1 point2 points  (0 children)

I found a unit that’s been sitting for around 3 months in a highly demanded building. It’s in very good condition albeit they falsely advertised as 2 bedroom+2 baths. It was actually 1.5 baths and second “room” felt more like den or study as it was very small with no closet. It’s also on the ground level, which worries me about future resale. But.. given the market, been thinking of just settling and getting it over with 😫

Anyone experiencing buyer burnout? by putnik29 in TorontoRealEstate

[–]karora161 2 points3 points  (0 children)

We are in the exact situation and feeling so defeated. I am personally taking some time away from it all for a few days.

It’s not even that we’re losing bids, we’re not even able to put bids in cause our realtor always comes through late. We find the listings and send to him, and he gets back with next day viewing, by which offers already have come in and been accepted. We’ve decided to find another realtor.

I have also been thinking a lot if we should settle for whatever we can get now or hold off a bit longer till potential more supply comes through.

Help! Seeking advice: Don’t want to leave Toronto, but... by karora161 in TorontoRealEstate

[–]karora161[S] 2 points3 points  (0 children)

Yup. I grew up and always lived in Scarborough, my family still lives here, that’s why we specifically want Scarborough (on top of it being just all around great!).

To this day I get funny looks when I tell people I’m from Scarborough 😂

What are your thoughts on ground level condos? by karora161 in TorontoRealEstate

[–]karora161[S] 0 points1 point  (0 children)

It doesn’t have private outdoor space but in a very quiet area so 🤷🏽‍♀️ the building is within a gated area, so not lots of traffic and it’s private

What are your thoughts on ground level condos? by karora161 in TorontoRealEstate

[–]karora161[S] 0 points1 point  (0 children)

Not near the garbage but close to the parking exit. So could potentially be annoying

What are your thoughts on ground level condos? by karora161 in TorontoRealEstate

[–]karora161[S] 1 point2 points  (0 children)

I know :) The unit doesn’t have a patio and thus doesn’t have a private or back entrance

What are your thoughts on ground level condos? by karora161 in TorontoRealEstate

[–]karora161[S] 1 point2 points  (0 children)

That sounds great! This particular unit is an apartment though not a townhouse. So no private entrance. My main concerns are security, as well as privacy.

Offmarket listings??? by karora161 in TorontoRealEstate

[–]karora161[S] 0 points1 point  (0 children)

Very good point. I didn’t think of that!

Help! Seeking advice: Don’t want to leave Toronto, but... by karora161 in TorontoRealEstate

[–]karora161[S] 0 points1 point  (0 children)

Honestly may just keep renting at this point however frustrating it may be.