Home buyer offers $700,000 over listed price in Vancouver

BC Real Estate Association says it could have been due to a marketing strategy


Vancouver are nothing new, but having a buyer offer $700,000 more than the asking price?

The house we're talking about is the Mackenzie Heights area on a lot with a panoramic view of Vancouver's skyline, including the mountains and sea. But is that enough to make you want to pay more than the $3 million list price? Cameron Muir with the BC Real Estate Association says yes -- if you've got the cash.

"You can create a lot of interest or buzz around wealthy potential buyers, then you certainly see home prices or even the land value in this case, bid-up substantially," he explains.

He notes this doesn't happen often and adds it could have been part of a marketing strategy.

"Listing the home at a lower price in order to generate multiple offers to create a climate of a bidding war in the effort of securing a higher price in the end," says Muir.

The home and lot listed for just under $3 million had many offers, the highest being over $3.6 million.

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