Soooooo, we’re still in limbo. Grrrrrrrr.
Our first offer fell through, the kid couldn’t get the financing.
Fortunately, the night before he finally informed us of that (after missing every deadline in the Offer to Purchase), we accepted another offer conditional to the first one falling through.
When the first kid told me the bank evaluation left him $15 000 short, and then asked me if we were flexible I was able to say “Sorry, but we have another offer so we’re stiff as a board.” As in not flexible.
The second (and currently never ending) offer is from a kindly Haitian gentleman who resides on the South Shore of Montreal but works in Paris. He is represented by a realtor (which we didn’t want, but his price includes the commission so we’re kind of getting free realtor services… kind of) and had to go back to France immediately after visiting our place. He left it up to the realtor to conduct bank evaluation, the visit to the other apartments, and the inspection on November 21.
Everything went well and we were assured that the gentleman’s financing was pre-approved and was only waiting for the bank evaluation. That’s when everything went pear-shaped and we were consigned to limbo.
Apparently, (and I say apparently because I have only the realtor’s word on this and at this point I don’t trust him any farther than I could throw him (which on some days might be fairly far)) the woman at RBC in charge of the file went to Cuba on vacation before finalizing the approval. This left things in the hands of some junior mortgage jerk who decided that because the buyer works in France, that he’s not a fiscal resident of Canada (despite him declaring his income here, owning a house here (mortgaged with RBC!!!), and his wife and kids living here).
Since then, we’ve extended the dates on the offer twice, they’ve taken the mortgage application to Scotia and Desjardins, and we’re waiting and waiting and waiting and waiting and waiting…..
Edit 22-12-2016 (original post 09-12-2016): The deal fell through. Boooooooooooo!
Some baloney about the buyer losing his financial residency status in 2014 on a technicality and then getting it back, but the bank wants 5 years consecutive residency. Bunch of baloney.
So we’re back to square 1.5. Not quite square 1 since we have learned a lot about the process and what to watch for.
We showed the place last week to a Chinese lady (she and the kids are here, husband is still in China working) and today to a Quebecois couple and are showing again tomorrow to some guy named Barkley, which obviously makes me thing he’s the big fluffy dog from Sesame Street.
Hopefully one of those pans out.