This detached 2-storey brick century home is located in a great neighbourhood of Kitchener. It is close to the LRT, the Commercial Core, and restaurants. This is one of Kitchener’s more family-friendly neighbourhoods with Cherry Park, Raddatz Park, and the sprawling Victoria Park nearby. The new Google headquarters and Kitchener-Waterloo Hospital are only 1.5km away! Location, location, location at a massive discount!!
PLEASE READ BELOW BEFORE MAKING AN OFFER:
This property is occupied by the seller’s 61-year-old brother, who has lived in the house on and off for his entire life and has now gutted the house for a renovation. For the purpose of this sale, he has stubbornly refused to vacate. The Seller has advised that there is no lease of any sort and the brother pays no rent or any of the bills, except maybe the oil for the furnace and we believe the brother’s girlfriend is paying the hydro. The brother has no rights of ownership of this house. It’s the elderly mother on title and the daughter and cousin are POAs.
Our Buyer must be comfortable closing with the strong likelihood of the brother remaining on the premises. The Buyer will likely need to take the necessary steps to have the brother legally removed from the house, but we believe he does not fall under the rules and regulations of RTA. This is similar to any other situation where you buy a house and a Seller’s family member does not vacate upon closing. We have been advised that you can most likely speak to the police at the station, explain the situation — that there is a trespasser, and the police should remove the trespasser for you. While this is to be done at Buyer’s sole discretion and expense, we’ve ensured our purchase price with the Seller and our price to our Buyer reflects that undertaking. Once the brother is removed and the house made vacant, we believe there is substantial profit to be made on this flip or rental property!
We are selling our assignable purchase contract.
Closing is August 4th, 2020.
**Please note that this is only for experienced investors and due to no visits will likely need to be a cash purchase.**
Please click HERE for more information and pictures.