Briefing

    Properly launches new service that lets you buy a new home before selling yours

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    The Toronto-based real estate-technology company has partnered with CIBC to provide its users with expedited mortgage approvals, competitive rates and financing advice. Properly said it will cover mortgage payments on users’ current home until it sells; if it doesn’t within 90 days, the company will guarantee a backup offer using machine learning to determine the price the home would fetch on the open market. CEO Anshul Ruparell told Financial Post the money to do this would come out of the company’s five per cent commission, and not the sale price. (The Logic, Financial Post)

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