Quote:
Originally Posted by tiger_handheld
I thought new rules stated that dp cannot be used from borrowed funds (ie. LOC) - am i missing something?
Are you a broker because I'm thinking of doing exactly what you are saying but from I'm reading its not possible. would like to chat if you are broker...
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Rules are only there and meant to be broken. Banks or developers won't do a check; they really don't care how the money arrives in their hands as long as you pay up.
Just put a deposit a pre-sale 2 bedroom condo in Burnquitlam and I plan to sell my place once the markets pickup again. It's not due until a couple year later so it works quite well.