I purchased a condo that was being built. I was pre-aproved for a mortgage, and had to pay my down payment in a few installments, but they have changed the occupany date twice now, and I purchased it a little over a year ago. The price has gone up significantly, and I am a first time home buyer, so I was told I had to live in it for a year, and wouldnt be able to "flip it" which was fine.
Wel, things happen, and Ive met a man in alberta, and I want to move there with him, and go back to school. I want to know (before I ask my lawyer) what are my options here? Can I transfer it into someone elses name? Can I get my deposit back, or have I just lost a huge amount of money? I was thinking of just moving, and as long as Im here to take posession, it woudn't matter, right? But if i go back to school, I will have no income, and will NOT be able to get a mortgage....
I need help!|||Everyone on Yahoo will have a different answer for you, you had better consult a Lawyer s-o-o-n.|||Only way is to consult an lawyer reference your options. It may be possible you can lease your condo out and may not be possible. A lawyer can lay out all your options and let you choose best one for you.|||typically there are details about this situation in the purchase contract. If you give them enough notice, they may give your deposit back especially since the condos are worth more now.
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