33 offers spur bidding war on West Vancouver home

It’s no secret that the Lower Mainland’s housing market is red hot.

So when a modest property in West Vancouver hit the market recently for $1.5 million, no one batted an eye.

But it’s the number of offers that the 3,000 square foot home received that’s raising eyebrows.

A stunning 33 offers were submitted for the home, including one by Amyn Bhayani, who offered $200,000 over the asking price.

To his surprise, he was outbid. The home eventually sold for $2.1 million.

“I thought I had a pretty good position with the number I was putting forward,” says Bhayani.

His realtor, Jason Jennings, says the home was “very well priced” but it’s the first time he’s ever heard of a home in West Vancouver getting 33 offers.

Bhayani believes the intense interest in the home was fueled by investors, who saw the home as a bargain. A neighbour’s home is currently listed for over $7 million.

West Vancouver is often referred to as one of the wealthiest municipalities in Canada, and 95 per cent of the district’s 16,000 homes are valued at more than $1 million.

 

By   Global News

Renee Pelland

Renee Pelland

REALTORĀ®
CENTURY 21 In Town Realty
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