Quote:
Originally Posted by Traum
I am not saying this to diminish your situation or the pressure you're under -- in most cases for normal people, the need to sell the current place to have enough money for the new place is something that everyone goes through, and ultimately, we all find different ways to make it work.
Have you looked into bridge financing at all? It was an optioned that had been brought to my attention at the time when I was buying my current place. Ultimately I didn't need it bcos I managed to have my apartment unit sold. But potentially, it could be something you use to buy you some extra time before your current place sells.
|
I was under the assumption that bridge financing only works if you have a firm sale contract in place with subjects removed. And the bridge financing is to basically tie the two completion dates so that you are able to have funding for the purchase before the sale of your home happens. I have never done this before so my info could be totally wrong!