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We advised the developer back in January and explained our situation that this was a likely possibility. They responded with a letter from their lawyer advising they are willing, ready and able to complete as per the contract and will seek legal remedies if we do not complete. He then quoted the...

Hi folks, newbie investor here. My wife and I made a crucial mistake in April 2008. We purchased a pre-sale townhouse in Surrey, BC that is due to complete on May 1, 2009. When we purchased the market was still strong, and we expected no problems obtaining a mortgage to complete on the...