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Toronto house that just won’t sell is up for auction with bids starting at $1

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Toronto house that just won’t sell is up for auction with bids starting at

While housing auctions might be commonplace in countries like Australia, it’s a bit rarer to see one in Canada. 

But honestly, they’re a genius idea – at least from the perspective of the buyers. 

That’s because they offer a level of pricing transparency that Canadian homebuyers don’t typically have access to when purchasing a home. 

The main entrance to the building. 

Typically, when people place a bid on a house in Toronto, they may have no idea how many other people are bidding, if they bid lower or higher than your offer, if they had conditions on their bid, etc. 

427 Crawford St. Toronto

A bedroom in one of the units. 

But with an open auction, like the one for 472 Crawford St., the bidding process is transparent, and you know exactly how many people are bidding and for what amount. 

427 Crawford St. Toronto

A living room with a fireplace. 

Does it make homebuying feel kind of like a spectator sport? Sure. But the Toronto real estate market has been bonkers for a while, so you might as well get some entertainment out of it!

427 Crawford St. Toronto

The empty main floor unit. 

472 Crawford St. did try to sell the traditional way first. 

427 Crawford St. Toronto

A bathroom. 

In September, the four-bedroom, three-bathroom home was listed for $1,200,000. 

427 Crawford St. Toronto

Another bathroom. 

Then, in October, the fourplex price dropped to $899,000.

427 Crawford St. Toronto

A kitchen in one of the units. 

But as of a few days ago, 472 Crawford St. is back on the market with a $1 price tag and is accepting bids. 

427 Crawford St. Toronto

The empty living room of the main floor unit. 

The fourplex seems to have all the units except the main floor one-bedroom unit tenanted, but from the listing, it seems like this property will be sold as vacant. 

427 Crawford St. Toronto

The basement unit. 

“Calling all investors, handymen, renovators, and future homeowners! This is a fantastic opportunity to renovate this home into whatever you want,” reads the listing. 

427 Crawford St. Toronto

A very dated kitchen in the main floor unit. 

And if you wanted to transform this into a single family home it will need some hefty renovations. 

427 Crawford St. Toronto

An upper floor unit bedroom. 

In fact, it will likely need more than a new coat of paint to make the semi-detached house look a little less like rundown student housing. 

427 Crawford St. Toronto

An empty bedroom. 

But what the house doesn’t have going for it in terms of interiors, it does have going for it in terms of location. 

427 Crawford St. Toronto

The lower unit kitchen. 

472 Crawford St. is in a prime location, close to transit, nightlife, amenities, and the University of Toronto, so it’s easy to rent out.

427 Crawford St. Toronto

The basement living room. 

Also, houses don’t tend to lose their value in this area. In fact, semi-detached houses typically sell for an average of $1.7 million and in the past 12 months have seen a six per cent increase in property value. 

427 Crawford St. Toronto

A shared backyard. 

So, if you wanna get a deal on a fixer-upper in Little Italy, now is definitely your chance. 

427 Crawford St. Toronto

The back of the house. 

The auction will take place on opennoffers.ca, and as of publication, there are zero offers on 427 Crawford St. But, that could change soon. 

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