The Sell: a couple with young kids cash out after less than a year in Riverdale
The sellers: Shanna Landolt, the 43-year-old founder and president of executive search company the Landolt Group, and Paul Landolt, a 49-year-old software developer for RBC.
The property: A detached four-bedroom Edwardian in Riverdale, which the couple bought for $1.285 million in 2013, and lived in for just under a year with their three young kids.
The story: As Paul’s 50th birthday loomed closer, he and Shanna started daydreaming about a simpler life outside the city. Shanna grew up in Brockville, and the couple figured they could buy a house there—for a third of what it would cost them in Toronto—work remotely, and have enough extra cash to rent a pied-à-terre in the city and take regular family trips to the Caribbean. After mulling it over for a bit, they resolved to list the house just before Christmas to see what offers they could attract.
The prep: The Landolts’ agent, Suzanne Lewis of Keller-Williams, initially advised the couple to have the house professionally staged. Then, she reconsidered: two homes in the area had sold after receiving 20-plus offers, and some of those disappointed suitors were sure to bid on the next comparable property. So they spent four days de-cluttering and put the house on the market on December 9.
The offers: After a flurry of open houses, they received three offers, one of which was slightly over asking. Feeling buoyed, they signed all three back, and all returned with even higher bids. They haggled with the top bidder for 45 minutes, then made a deal for $74,500 over list price—a satisfying sum to put toward a new home base outside the city.