A Toronto homeowner is selling his east-end house for less than the price of a litre of gas -- $1.
With the cheapest listing in the city, Omar Ibrahim hopes his tactic will create a buzz, and a bidding war.
"I figured, 'What's a good way to attract the buyers' audience? What's a good way to draw in as many people through my front door as possible?'" he asked. "I figured a dollar is a good way to do it."
The end-unit townhouse, located at 93 Badgerow Ave. in Riverdale, is nothing to scoff at either. It comes with new hardwood floors and a snazzy new kitchen.
In a neighbourhood where homes sell regularly for $340,000, Ibrahim's property has received a lot of attention from real estate agents in the two days it's been listed.
Meanwhile, Ibrahim's real estate agent is a little worried about his commission.
"I think about it every day," Asim Khan said with a laugh.
Ibrahim, who hadn't yet received any offer as of Friday afternoon, describes himself as a professional house-flipper.
"Real estate is a risk, house flipping is a risk, but the reward is phenomenal," he said.
A report by the Toronto Real Estate Board on Thursday showed home resales in Toronto were down 11 per cent from this time last year, however, Riverdale saw figures increase 10 per cent because of strong detached home sales.
With a report from CTV Toronto's Ken Regular
