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| 81 Bessborough |
So you have owned a home for most of your life and you’ve never heard of a Bully Offer. Maybe that’s because a real estate “bully” has to lay down a lot of cash for the title. We think it’s more like upping the ante in the game of buying and selling of homes. All sellers would like an over-listing bid on their home but the bully offer comes from a buyer with an offer that is way over listing. A bully buyer adds to the urgency of acceptance by setting a deadline, sometimes a really short one. And so we have the case of a 81 Bessborough Drive. It was listed for $1,199,000 and, as reported by Toronto Life, the For Sale sign “went into the ground at 10:30 a.m. Within eight hours, the buying agent had emailed a firm $1,305,000 early bid with one caveat: it would expire in three hours. Immediately, the selling agent called the seller, who was interested. Other potential buyers couldn’t be contacted because of the calculated dinner-hour deadline, so the seller accepted the deal by 8:30 p.m., after the home had been on the market for only 10 hours.” Hey, bully me.
