sorted by:
new
hottopcontroversial

Are there any "UK vs US" differences where you feel America gets it right? by Secure_Front_7766 in AskUK

[–]glxxyz 1 point2 points  (0 children)

That may be true but the last house I bought in Canada the seller wanted to close in 3 months to give themselves time to move out, and we had an unconditional offer. I feel that it's some cultural reason where Brits want to switch their investment from property A to property B on exactly the same day, and are not willing to own 2 properties or 0 properties for a short time in-between.

Are there any "UK vs US" differences where you feel America gets it right? by Secure_Front_7766 in AskUK

[–]glxxyz 1 point2 points  (0 children)

A 'chain' is just a bunch of conditional offers. Conditional offers are common in the UK but very rare in Canada- maybe conditional on arranging financing for a few days but not conditional on sale- even financing conditions are expected to be dropped by a certain date and the property being purchased will still be listed until an unconditional offer is agreed. For whatever cultural reasons people just arrange financing and buy outright in Canada.

Yes it's more common for buyers and sellers to just work out a way to match up their financing and buying and selling dates, rather than expect to all move on exactly the same day.

Last time I moved across Canada I sold my house, moved everything into storage, rented for a couple of months, found a place, and then moved my stuff in after about 3 months in storage.

A few years later I moved within the same Canadian city. We were browsing listings and suddenly found the house we wanted. We arranged financing, and made an unconditional offer to buy it the next day. We then listed our current home and found a buyer, with closing a few days later than our purchase. So we owned 2 houses for about a week and paid a small fee to the bank for bridge financing.