Thanks for the quick replies.
Byrns: we've talked to the landlord and they're definitely willing to sell privately. However, I also know they're anxious to reinvest that money into a house to rent so they'll want to sell quickly. They've told us that if we want to wait, they'd be willing but they're asking price would go up. We figured that paying interest on the interim financing would cost us less than what they'd want if we waited.
Sylvanfan: I guess we're trying to find some interim financing to be paid back once we sell the one bedroom condo. We don't want to keep both, and we've decided that the one bedroom would be too small to start a family in. I've poured over the condo forms I signed, and the only thing I can't do is sell before the place is completed. We have checked with an accountant so we're not worried about the capital gains.
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