Trendy Queen West Loft Will Be Offered For Online Open Bidding

TORONTO, ONTARIO, CANADA, August 4, 2020 /EINPresswire.com/ -- On The Block is bringing another trendy Toronto property to its online auction platform.

The two storey loft across the street from Trinity Bellwoods Park at 901 Queen Street West is listed for sale, and will be going to the highest bidder - but not blindly. While many real estate listings follow the 'blind bidding war' approach to selling, where buyers don't know what they are offering against, On The Block has offered the transparent online auction approach as an alternative to buyers and sellers looking to comfortably participate in the already potential stressful process of purchasing a home.

"The world has been dealing with a whole lot of uncertainty as of late, the last thing anybody wants is the same thing when purchasing real estate", said Daniel Steinfeld, co-founder of the brokerage and auction house, and the listing salesperson for this property. "When people can be confident making offers at their comfort level, without worry they are overspending, we actually see greater participation from would-be buyers, and the property receives its true market value."

The loft for sale is a two-storey, 750 square foot beauty. WIth 9 foot ceilings, custom storage throughout, tasteful finishes, and the space and layout that allows for work, entertaining, and relaxing, it is a perfect fit for those looking for a place to spend a whole lot of time at home. WIth more and more people starting to work from home, the need for a bit more space in a downtown condo has grown considerably - this unit checks all the boxes (and it has parking too!).

Where the stigma behind real estate auctions has been that of distressed properties or liquidations, this platform has been focused on the traditional resale properties in the Toronto market. This isn't the first auction that On The Block has put together in the GTA. There have been over a dozen auctions of properties ranging from townhomes, to condos, to assignment sales, all resulting in successful sales where both buyer and seller were thrilled. The auction platform, run by On The Block Auctions, acts as a complement alongside the MLS listing that exists for the property. On the auction site, even more information is available for users to download, and it is where all of the bidding takes place.

This feature unit will see bidding start at $725,000, and all participants must register to bid on the auction site. All details about the home and auction process, including video, pictures, floor plans, and an opportunity to book a viewing, are online at 901queen.com. There will be a virtual open house, and showings can be booked anytime prior to the auction. For those who would rather purchase the traditional way, there is the opportunity to submit an offer prior to the auction if one so chooses.

As many would like to see the process in action before they place a bid, there are auction demos that run every day, allowing anyone to try the platform on simulated properties.

"This is truly an opportunity for homebuyers to be in control". Steinfeld says. "This is a gorgeous unit in one of the best locations in the city, everyone should be given a fair chance to call it home, and there is no better way than to make the whole process transparent." The home is open for viewing (subject to appropriate safety measures) until August 11, when the auction will take place. Showings can be booked through On The Block at any time.

Learn more at www.901queen.com.

Daniel Steinfeld
On The Block
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Tour the loft - Unit 421 and 901 Queen Street West