Philip Kwan

✨ Just Listed! ✨ Discover luxury living at The Beverly Hills Condos, located at 9205 Yonge St #618 in Richmond Hill. This 1 bedroom + den, 1 bath condo features 2 balconies: a walkout balcony in the living room and a Juliette balcony in the bedroom. 🌟 The spacious bedroom includes a set of his and hers closets, and the washroom is accessible from both the living area and the bedroom.

Enjoy the convenience of full-sized kitchen appliances, rare in newer condos. Priced at $599,900, it includes 1 parking spot and a locker for all your storage needs. The functional layout allows the den to be used as a home office or a 2nd bedroom!

Indulge in world-class amenities: 24H Concierge, indoor & outdoor pools, gym, yoga studio, rooftop patio, games room, party/recreation room, and visitor parking. Located at Yonge and 16th, you’re in the heart of it all. 🏡✨

📍 The Beverly Hills Condos, 9205 Yonge St #618, Richmond Hill
💲 $599,900
🚗 1 Parking & 1 Locker
🏊‍♂️ Amenities galore!

Contact me for more info or to schedule a viewing! 📩

Philip Kwan, Broker of Record
Peter Kwan Realty Inc., Brokerage
📧 [email protected]
📞 647-821-2888

🌟 RECORD SOLD PRICE 🌟

🎉 Congratulations to another happy seller! Once again, highest price in the building for all 1+1 units this year!

HOWEVER:

🤬 Please be careful when selecting a realtor to help purchase a property. My clients bought this unit as their first investment property with the help of another agent. Unfortunately, this caused a great deal of stress and a major set back for their financial timeline. They bought the unit back in 2020 for the highest price in the building for comparable properties.

The agent committed the following atrocities:

❌ Did not select the best possible investment property for his clients’ budget (poor location, subpar layout, den too small to be used as a 2nd bedroom, high maintenance fee, no washer and dryer en-suite, poor rental market)
❌ Did not disclose the number of offers at the time of offer presentation
❌ Pushed his clients to offer more than necessary to win the bid
❌ Recommended the buyers to waive financing and inspection conditions without a mortgage pre approval

After their offer was accepted, the major banks did not approve their mortgage request and they were forced to go with a B lender with massive interest. Even with the unit rented, they lost thousands each month.

‼️ Whether the realtor was inexperienced, lazy or simply looking for a quick commission cheque, there is no excuse. As professionals, we must ALWAYS take action to do what’s best for our clients! As for any other profession; lawyers, doctors, pilots…PEOPLE RELY SOLELY ON OUR CABILITY TO PUT THEM FIRST!

If you’d like to find out more about my services and what I can do for you, please do not hesitate to contact me directly! 🫡

Sincerely,

Philip Kwan
Broker of Record
📲 647-821-2888
📧 [email protected]

🎉 Congratulations to my clients for selling their home for a record price in a buyer’s market 🎉

If you are curious to know more about the sale, I’ve provided a summary below for your reference:

Within 21 days, we had 55 showings, 5 offers, 2 offer presentations and a final sold price of $1,590,000.

Check out the second slide for a summary of comparable properties below:

Comparable properties in the area sold within the range of $1,302,000 to $1,495,000.

One comparable property sold for $1,740,000 with at least $150,000 in renovations, larger lot size and better location.

Our property was built in 1967:
- original finishing with no money spent on renovations other than a few touch ups I recommended.
- Mold was present in the attic due to poor ventilation.
- Outdated K**b and Tube wiring presenting higher risk of fire and increased insurance costs.
- Small backyard compared to similar properties sold and available
- One street distance from Steeles Ave (noise impact)

During our first offer presentation, the offers ranged from $1,420,000 to $1,550,000 at which point the sellers were happy to accept $1,550,000. The sellers are retirees and rely heavily on the proceeds of this sale, as such, I advised my clients to wait a few days and allow me time to attempt to bring them a better price. In the end, they walked away with an extra $40,000. If evaluating the property based on a comparative market analysis, this property should really have been worth approximately $1,480,000 to $1,520,000.

Moral of the story: In any market, there is no such thing as market value. The price is the point at which the buyer is willing to pay and seller is willing to accept. Knowledge and experience are key to ensure you get the most out of your assets. Who you choose to work with truly matters!

If you’d like to find out more about my services and what I can do for you, please do not hesitate to contact me directly! 🫡

Sincerely,

Philip Kwan
Broker of Record
📲 647-821-2888
📧 [email protected]

🚨A bit old but gold. Dug this one up from before the new years and am happy to bond some happy clients to some happy tenants 😁

📲 647-821-2888
📩 [email protected]