Quote:
Originally Posted by Table 5
Yep, this has definitely sneaked up on me and i need to get my ass in gear, but thanks for the help guys. i will take a look at the contract much close when i get home.
I think at this stage, renting out the property for a couple years until the market rebounds might be my best option. Unless of course the rental market goes down the crapper as well...
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How large was your deposit?
It may be better off for you just to walk away from it if the price of equivalent condos have dropped enough.
When i built a home, I had to put 10% down, but if the market had gone down 15 - 20% i would've seriously considered walking away.
Note, I do not know if walking away would've resulted in other claims from the builder beyond my deposit.
~firebug