Carrying two properties through a bridging period is dangerous at this point. The market could turn quickly, and the old property would become very difficult to unload near the previously anticipated price. -vreaa
NO-LYMPICS at vancouvercondo.info 28 May 2:48 pm -
“A friend of mine bought a house without selling his current one first. He then had his current one listed and had it sold to an Asian guy in a Mercedes, only “subject to” was financing. The sale should have concluded last Friday, but he told me the deal feel through. His realtor was pissed, as the other agent should have made sure his client was pre-qualified. My friend has a loan to cover his new purchase, but I think he will be in trouble, given this current RE market. He may have to accept a low ball offer to extricate himself from this mess.”
