Go back to news + community

Business Law, Real Estate

Property Purchasers Feeling Pinch From Rising Interest Rates & Construction Delays

February 28, 2023 by Clay Williams, Tanvir Gill

Several people throughout the Okanagan purchased properties, usually condos, a couple of years ago well before the building was completed. Fast forward a couple of years and now with interest rates higher, these same buyers are receiving completion notices letting them know their payments are now due as their buildings are finishing.

Things have changed for some people over the last few years and financial constraints could be coming into play, so what can a purchaser do? 

Lawyers Clay Williams and Tanvir Gill discuss in this episode of Law Talk.

As always, send your legal questions to podcast@fhplawyers.com.