Ask me anything about Real Estate

mxs said:

http://www.bestratefinancial.ca/wp-c...ate-Sheets.pdf

BTW, these are not the best market rates one could get for residential mortgage .... not sure what exactly "CHARTERED BANK ADMINISTERED INTEREST RATES" means, but clearly they are much higher than what I have paid in the last 10 or so years to my bank looking at the variable rates ... anywhere from 1%-3% the highest I have ever paid.

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Apparently applicable to large business loans. Business loans are always more expensive.

GreyGhost said:

Apparently applicable to large business loans. Business loans are always more expensive.

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Yup....been trying to buy a property recently but because I have an investment property bank won't touch me due to risk....not sure how to go about as selling my place will give me 120k or so for a down payment, but the multiplex we have is killing my affordability amount....

Looking for recommendations on a mortgage broker that deals with some commercial/multi-plex properties. Especially trying to pull equity out of the commercial property.

^^ Try Patrick Duggan - a few friends have used him with solid results.

Question regarding assignment sales. I'm wondering what my expectations a seller to be. I bought a condo pre-construction last year. Across the street in a less desirable building prices has appreciated by $215k to $719k for a similar unit. When I spoke to an agent about doing the assignment sale they said I should not expect more than $40k-$50k markup from the original price. I thought that was BS.

What should I expect? I would prefer to do assignment sale next year instead of waiting till 2021 for it to complete.