Quote:
Originally Posted by Winsor_Pilates
The post-tension thing seems strange to me. There's a lot of places built like that; it seems there must be more to their reasoning, of the buyer hasn't told you everything about their lack of mortgage approval.
Also, why is there a 25 year lien on the property?
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Sorry WP...I meant that that is the length of the mortgage a lot of people take out, so that's the time frame that CMHC looks at the building still being around.
As far as the reasoning, that was it...financing was in place, the guy even wanted to buy some of our staging furniture. He just didn't have the 25% down in order to not have to deal with CMHC or another mortgage insurance company.