The house at 312 Gladstone Avenue in Little Portugal that I suspect was the house in question in yesterday's Toronto Realty Blog post about 'Representations and Warranties' has sold for a SECOND time in 3 months.

It was first listed in March for $475,000 after having the following price history:

March 2009    $244,900

October 2010    $488,800

September 2011    $498,000

Hmm.

The house is leaning and basically touching the neighbour's roof, and I am not talking about the attached house, so it was clear that it needed a LOT of work.

Or to be torn down.

But that didn't stop it from selling the day I posted it for $395,000.

Two months later, it was back on the market for....

$395,000.

Guess they forgot to include those 'Representations and Warranties' the first time around and the deal fell through.

Here is just an example of what was in the disclosure that I suspect was for this house...

“The property is in poor condition, has oustanding work orders, and requires substantial and significant remedial and renovation work, including work of a structural nature, in order to bring the house into a condition fit for habitation.  Without limiting the generality of the foregoing, the structural walls are leaning, the building is structurally unsound, and work requiring one mor more permits has been completed without first obtaining such permits.”

Regardless of how ridiculous the statements were in the disclosure...

This house has sold again!

This time for....

$365,000.

Wonder if they made a private deal with the neighbours and bought both houses!  It's prime location for some terrific new builds (unless they go for the Ledbury Park look!).