January 2021

Once Your Offer is Accepted

Posted on Jan 28, 2021

Now is when you do your due diligence for all of your conditions. That will mean the following:
• Sending in your initial deposit as per your contract
• Sending in your offer to your mortgage specialist so that they can confirm your financing
• Organizing a home inspection
• Depending on the type of home it might mean reading through condo docs or ha...

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Making an Offer

Posted on Jan 28, 2021

Once you have found your NEXT home, it is time to write your Offer to Purchase. An offer is a legal document, which is why it is important to work with a REALTOR ®

The items typically included in the offer are:

Offer Price: the list price is what the seller is asking but does not need to be what you offer. By comparing similar properties your REALTO...

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Mistakes Buyers Make

Posted on Jan 28, 2021

Don’t get caught up in the following:
• Don’t wait for the perfect house, there isn’t one
• Compromise and prioritizing are necessary elements in home purchasing
• Don’t buy before you do some comparison shopping, especially if you’re new to the area
• Don’t write an unrealistic offer or you will simply be helping someone else’s offer look good (too lo...

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Home Buying or Home Building

Posted on Jan 28, 2021

Another choice you will need to make is deciding between a new home, one that has been previously owned (a “resale” home), or one that you will build yourself. Take time to carefully consider each option.

New home:
• Is the home built and ready to move into, or will you have to wait for the construction to be completed?
• If the move-in date gets de...

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Types of HomeOwnership

Posted on Jan 28, 2021

Options vary slightly between provinces, but you can choose between the following ownership types in Alberta:

Fee Simple: you own the building and the land. “Fee simple” tenure is the most common type of ownership. Owners of single-family homes — who own both their home and the land it is on — hold the property in fee simple, for example. In contras...

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The Real Cost of Home Ownership - Upfront and Ongoing

Posted on Jan 28, 2021

Figure out how much you need to save to cover the upfront costs associated with buying a home. For example, have you saved enough to pay the following expenses? 

Upfront
• Down payment — the part of the home price that is paid when you make an offer to purchase
• Home inspection and appraisal fees
• Insurance costs — including property insurance, mort...

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