A lender reviewing a condo purchase also wants to see the building's reserve fund and condo corporation documents, a review that takes real time, so having your house sale already closed removes one source of delay from an already document-heavy approval.
Carrying a house and a condo at once, even briefly, means paying the mortgage, property tax and condo fees on both, a cost that adds up fast if your Grosvenor Park house takes longer to sell than planned, on top of legal fees running roughly $800 to $1,500 at closing.
A flexible possession date on the house sale, timed against a realistic condo closing, usually solves the sequencing without you ever carrying both. Get your hand-reviewed valuation from Joel Dyck.