Behold this mammoth, custom-built, all-brick, executive-style home, which was constructed in 1990 and offers more than 6,500 square feet with its fully finished, above-grade “basement” with in-law suite functionality!! Approach this luxurious property by driving up the horseshoe driveway and, while marvelling at the towering Palladian windows, station your vehicle somewhere along the long driveway or within the large, 3-car, attached garage. This is a 100 x 250 ft lot that backs onto forest and boasts 3 balconies which overlook the vast foliage. The basement features 2 walk-outs and the main floor’s master bedroom features an office, fireplace den, and a full, ensuite bathroom. Overall, this opulent property still needs some TLC, but the opportunity for forced appreciation is highly achievable!! This is an excellent way for an Investor to buy a prestigious property at affordable financing, and resell before the interest costs kick in. Alternatively, if the Investor falls in love and wants to hold, this VTB allows them the time to renovate and refinance with a traditional bank at a lower rate!! Creative financing on a pricier asset helps a flipper make sense of their numbers!!!
We are selling our assignable purchase contract.
Closing is January 17th, 2022
**Please note: This purchase includes a first position 75% VTB mortgage open at 12 months @ 0% interest for the first 6 months. That’s about $40,000-60,000 less in typical private financing costs, plus NO lender fee, which is usually 2% of the principal. That’s up to $80,000 in savings!! The rest of the VTB provisions are to be negotiated after assignment and the Buyer’s accepted offer will be conditional on this final negotiation. However, the basic terms, such as maturity date and rate, will remain as described above.**