📩 Subscribe to Deal of the Week:
www.condowong.ca/deals
📲 Schedule a Call with Dan:
www.condowong.ca/call
🔴 Toronto Real Estate: The Impact of Open Bidding on the Market 🔴
Over the past decade, bidding wars have dominated the Toronto real estate market. Buyers often find themselves in fierce competition for properties, with sellers reaping the benefits of the highest offers. Traditionally, this process has been shrouded in mystery, known as blind bidding, where only the number of competing offers is disclosed, but not the details.
🎬 In this video, we cover:
• The traditional blind bidding process and its effects on buyers and sellers.
• The introduction of open bidding by the Ontario government effective December 1, 2023.
• How open bidding works and the potential impact on housing prices.
• Real-life examples and experiences from buyers and sellers navigating the new rules.
• A comparison between the blind and open bidding processes.
• Expert opinions and market analysis on whether open bidding will truly cool down the real estate market.
👥 Join the conversation:
• Do you think open bidding is better for buyers or sellers?
• How do you believe these changes will affect housing prices in Ontario?
• Share your experiences with bidding wars and your thoughts on the new open bidding rules.
📢 Don’t forget to like, comment, and subscribe for more real estate insights and updates!