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From: Mojo Jojo
Just hoping someone can set me straight.
I have a townhouse that I purchased in March 2001 off the plan as an IP. It is to settle in the next 3 or 4 weeks, I am yet to be notified of the settlement date. I did put "and/or nominees" on the contract. I am currently looking at buying a property that I will live in. To get finance, the bank has said that I will have to sell the IP as well as my current house. I have had trouble getting a bank just to agree to this.
My question is, is there any advantage of selling the IP before it settles? Should I just settle it and then sell it?
thanks
Just hoping someone can set me straight.
I have a townhouse that I purchased in March 2001 off the plan as an IP. It is to settle in the next 3 or 4 weeks, I am yet to be notified of the settlement date. I did put "and/or nominees" on the contract. I am currently looking at buying a property that I will live in. To get finance, the bank has said that I will have to sell the IP as well as my current house. I have had trouble getting a bank just to agree to this.
My question is, is there any advantage of selling the IP before it settles? Should I just settle it and then sell it?
thanks
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