Your best bet is a construction loan from a bank that you can turn into a traditional mortgage after its built.

Thank you, Shayne Get in touch with a mortgage broker or lender and talk with them about your situation.

Can anyone recommend a Mortgage Broker in Halifax, NS (or surrounding areas) that you have worked with, had a positive relationship, and that have experience with RE Investors?

If their was an old mortgage, get a mortgage release.

This way they get their asking price, a large chunk of cash to put down on a house, and they're new mortgage will most likely be covered by my payment.

I don't love it because of the mortgage insurance if I put < 20%.

Saves me pulling out 30K PLUS closing costs and then holding some 6.5% RE mortgage rate to deal with.I'm not sure how to go about this or how to present it to him. 

Where it really adds up (multiplies) is with appreciation, depreciation, and mortgage pay down.

On that note, is is like traditional mortgages where the bank has to solicit the appraisal?

He has no interest in sitting on market and wants to get out of the mortgage asap to free up the payment when he gets where he's going.I think the correct action is to offer and explain a quit claim deed, and ensure he fully understands that hes leaving a fair amount of money on the table.