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One of Ontario's most luxurious five-star, four season resorts has put up its remaining vacation residences for sale through an online auction where interested buyers may bid for their desired dream vacation house. The resort—Touchstone on Lake Muskoka—unexpectedly opened the auction with reserve bids as low as 15 per cent of the developer's sales price offering individuals a rare opportunity to purchase property in one of Ontario's most sought after getaway areas, for a impressively low price.
The resort is also a fractional ownership resort, which provides a fully-deeded real estate holding to a specific unit registered under the buyer's name. The Touchstone on Lake Muskoka homes are divided into one-eighth six or seven week fractions, allowing buyers to purchase as many as they choose. The fractions also offer varying times of the year when people can reside in the homes. For example, the one-eighth fractions offer a combination of predominant summer time as well as four season resort experience with additional weeks throughout the year. There are a total of 75 fractions available for bidding throughout the auction.
The auction is being held in three rounds between now and July 22nd, 2013, with opportunities to attend resort open houses throughout the duration of the auction. Prices range from the low to mid thousands, with minimum reserve bids for one-eighth fractions ranging from $4,500 for the resort's Grand Lodge Studios, to $27,000 for the 3 and 4 bedroom villa, Grand Muskokan Beachside Cottage. The 4-bedroom Treetop Villa cottages also start from $62,500, however only a limited number of these are available.
The purpose of the online auction, administered by Gordon's Estate Services, is to provide prospective homeowners with the opportunity to place bids from the comfort of their own homes. Gordon's Estate Services also hope that by putting these homes up for sale, future owners will be able to build lasting memories, relax and be stress-free from the upkeep of the homes, all for a price that is generously low in a region where housing prices have grown tremendously over the years.
To top it all off, these luxurious cottages are within a tight-knit community—with no more than 33 families in residence at any given time—and are absolutely jam-packed with lavish amenities and features which would be quite costly if offered elsewhere. The cottages are all comfortably situated facing gleaming Lake Muskoka, offering its residents plenty of privacy and a great view. The suites are fully furnished, accompanied by amenities such as an elegant infinity pool, fitness centre and spa, white sand beach, and Taste, the resort's exquisite year-round restaurant.
The resort condominium corporation also provides owners the option of earning income from their cottage or villa by entering it into the Touchstone-managed rental program, an attractive option for owners who would do not have the time to enjoy all of their time at Touchstone.
The Muskoka area is one of the most desirable and appealing vacation regions in Ontario recognized for its unending recreation opportunities, breathtaking lakes, rivers and forests, charming villages and towns such as Port Carling and Bracebridge, which offer plenty of quaint shops, cinemas, galleries, restaurants and banks. With all these great assets surrounding the resort, for such a reasonable price, what more could you ask for?
To register for the auction, or to learn more about Touchstone on Lake Muskoka Resort visit their website here.
