Remember Properly, that realty site that made guaranteed offers to home sellers?
What a great idea that was...until it wasn't.
Earlier this year, Properly ditched its "Sale Assurance" offering, its claim to fame, due to “unprecedented volatility in the Canadian housing market.” And there went its dreams of "transforming" the Canadian real estate industry.
When the curtains finally closed, Properly was sold for its most valuable remaining asset: its website. And, swooping in to scoop that up—allegedly for a bargain—was none other than online mortgage provider Pine.ca.
Here's what we know about the deal and the mortgage strategy behind it...