Source of deposit on a Pre-construction Condo
I wanted to purchase a pre-construction condo in QC, so I did. I was asked for 10% +5% +5% instalments every 6 months. Completion is in 2020. I gave the 10% and 5% already but I did not keep much record of my daily transactions. On the pre approval I had planned to ask parents for money but when they time came I took from my LOC (20%) and 500$ from a friend (was stupid, I had 80% to take from LOC) to complete the 10%. Now when I went to the bank developing the project they said I need 90 days of bank statements for each instalment. The broker says the cheques are enough.. Who is right? How much of a problem is if they see I received 500$ the day of deadline of the mortgage and that was enough to complete it. Please don't tell me I shouldn't be a homeowner. I am already in this and aside from this issue all is going good.