Challenges
Buying a New Home in BC While Their Quebec Home Was Still Unsold
Emma and Alex were relocating from Quebec to Langford, BC, after Alex accepted a higher-paying job. They wanted to buy a new home in BC while selling their existing home in Quebec.
However, their offer on the BC property was subject to the sale of their Quebec home, and that home had already been on the market for over a month without any offers. This created real risk that they could lose the BC property if things dragged on.
Timing Gaps, Bridge Financing, and Holiday Closings
On top of the sale contingency, the closing dates didn’t line up:
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The completion date for the BC purchase came before the closing date of the Quebec sale
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This created a funding gap that required bridge financing to cover the short-term shortfall
Their closing date of January 3rd added extra complexity. Many banks, lawyers, and lenders have reduced availability during the holidays, so any delay could have pushed things back and caused major stress.
Navigating Provincial Legal Differences
Because the existing home was in Quebec, Quebec law required a Quebec lawyer to handle the mortgage discharge.
That meant:
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Additional legal steps and coordination between provinces
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Extra instructions needed from the lender
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More potential points where a miscommunication or delay could derail the timeline
All of this had to be managed while Emma didn’t yet have new employment in BC, relying mainly on Alex’s new job income to support the mortgage.
Solutions
Securing Bridge Financing to Cover the Timeline Gap
To solve the mismatch between purchase and sale dates, we arranged bridge financing so Emma and Alex could complete the BC purchase even though the Quebec sale had not closed yet.
This allowed them to:
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Move forward confidently with the Langford purchase
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Avoid being forced to delay or walk away from the BC home
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Smoothly cover the temporary shortfall between the two transactions
Building a Backup Financing Plan Without Relying on the Quebec Sale
Because their Quebec home had no offers after a month, we reviewed the file with eight different lenders to find a solution that would still work if the property didn’t sell in time.
We secured a backup financing option that did not rely on the immediate sale of the Quebec home.
This backup plan:
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Gave them confidence to remove subjects on the BC property
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Reduced the risk of losing their new home due to timing or market uncertainty
Coordinating Lawyers and Lender Across Two Provinces
To deal with the legal differences, we coordinated closely with:
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The Quebec lawyer handling the sale and mortgage discharge
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The BC lawyer handling the purchase
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The lender, who needed updated instructions that respected Quebec requirements
By aligning everyone early and confirming the discharge and funding steps in advance, we avoided last-minute surprises—especially important given the January 3rd holiday-adjacent closing date.
Structuring the New BC Purchase
For their new home in Langford, BC, we worked within the following structure:
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Purchase price: $860,000
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Deposit: $50,000
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Strata fee: $283.11/month
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Property taxes: $3,631/year
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Contingency reserve fund: $52,906.20
For the Quebec home:
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Sale price: $699,000
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Mortgage balance: $353,000
This full picture helped the lender understand their position and support the bridge financing and final approval.
Results
Successfully Purchasing Their Langford, BC Home
Despite the unsold Quebec home, holiday timing, and cross-province legal issues, Emma and Alex successfully completed the purchase of their new home in Langford, BC.
The combination of:
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Bridge financing
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A backup financing plan that didn’t depend on an immediate sale
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Clear coordination between lawyers and lender
meant their file stayed on track, even with a January 3rd closing.
Smooth Closing and Strong New Mortgage Structure
Their transaction closed smoothly, and their new mortgage structure:
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Matched Alex’s new higher income in BC
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Accounted for the eventual sale of the Quebec property
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Positioned them well for their long-term financial priorities
They were able to relocate, settle into their new home, and transition between provinces without the deal falling apart due to timing or legal complexity.
