West Vancouver mansion sells for $3M more than assessed value amid pandemic

The owner had originally asked $7 million more for the West Vancouver property

A West Vancouver mansion, which had a property value that plummeted 13 per cent this year, was sold this summer for $3 million more than its most recently appraised value – $6.7-million.

Interestingly, the selling price was approximately $7 million less than the owner originally wanted for the house.

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After being listed for a year on the market by Sutton Group-West Coast Realty the property located at 1526 Chartwell Dr. was sold for $9.5-million in August, according to figures obtained by a real estate tracking site.

Advertisements online boasted the property hosted an eight-bedroom and nine-bathroom home, with a seven-car garage, swimming pool, and elevator.

As of July 2019, appraised the West Vancouver luxury home was appraised for $6,698,000 by B.C. Assessment.

The evaluation was $3,225,000 for 17,000 sq.ft. of land, and $3,473,000 for the house itself.

In the year previous, B.C. Assessment put the value of the home at $7,716,000.

Read the original article here.

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