04-23-2013, 11:59 AM
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#5
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First Line Centre
Join Date: Feb 2010
Location: Mckenzie Towne
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Quote:
Originally Posted by calgarywinning
Any advice on a plan to purchase a lot with an existing home to be demolished and then a new home to be built. How does one attain bridge financing and deal with the bank who can't understand the concept of tearing down the home for a rebuild?
Also we would be living in our existing Condo which currently is setup as chattel on a L/C for 65% of the value. This is entirely paid up. We would like to draw against this line of credit while paying for the new build.
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PM'd
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