jasonrego
New Contributor
My parents called; a large developer have given them an offer-to-purchase-letter that developer willing to pay significantly large amount of money (about 9X the money my parents paid in 2005) to buy their house. Developer is buying total of 10 houses on the street and we are the 5th house right in the middle. (Location: Toronto, Ontario, Canada)
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current market value is about 5x from the price my parent initially bought the property for; if we looking at based on current market value the developer is offering 2x current market value.
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My parents are retired and have no reason for selling it now; they love the area and if they sell they have to move to new area because the current area is very expensive. What should we do?
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current market value is about 5x from the price my parent initially bought the property for; if we looking at based on current market value the developer is offering 2x current market value.
**
My parents are retired and have no reason for selling it now; they love the area and if they sell they have to move to new area because the current area is very expensive. What should we do?
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