Bank Appraisal VS Real Estate CMA: Do real estate agents appraise homes in Alberta?
Through a “Comparative Market Analysis,” a REALTOR® can estimate the value of a home. Unlike a home appraisal, you cannot use CMA reports to apply for a loan or in civil proceedings. A real estate evaluation is not the same as an appraisal. However, some REALTORS® will do a comparative market evaluation for free in […]
Ask a REALTOR®
Ask a REALTOR® is a feature where REALTOR® Ed Deprato answers questions from the public about Real Estate. How Long to Sell a House? Should I Buy or Sell First? How Should I Set my Asking Price? Do you have questions you would like to hear Ed answer? Leave them in the comments below or […]
Things to do and not do before closing: What happens at closing in Edmonton?
Closing day is the same as possession day. It’s the day that the buyer’s lawyer sends the funds to the seller’s lawyer. The seller’s lawyer will pay out any mortgages, liens, lines of credit, etc which are registered against the property. They will then make an application to Land Titles to have the title transferred […]
How to Save Money on Home Closing: What are the closing costs on a house in Edmonton?
Under provincial laws, there are no land transfer taxes, instead, you must pay a land transfer fee when closing on a home in Edmonton. Other expenses include the appraisal fee, a down payment, mortgage fees, and expenses included in the contract. If it is your first time buying a home in Alberta, you may apply […]
How to close a real estate deal in Edmonton with or without an agent
In Alberta, the simplified purchase process is as follows: (1) The buyer makes an offer. (2) The seller accepts the offer and signs the contract. (3) The escrow amount clears. (4) The parties exchange all necessary documents. However, complications may delay closing for days, weeks, or even months. To avoid delays in closing when buying […]
What is the difference between an Appraisal, Evaluation, Assessment, and Market Value?
Appraisal: Only a licensed appraiser can produce an appraisal report. Lenders like banks who loan money based on the value of property will only use the opinion of an appraiser to determine value. Appraisers are rarely REALTORS® and will not be soliciting for a listing or commission. Appraisers are paid a flat fee for their […]
What Should You Consider When Choosing Your Move-out Date?
Whether it’s called a move-out date, possession date, closing date, or completion date, they all refer to the big day regarding your sale. It’s the day that the seller gets their sale price, and the buyer gets their new home. Choosing your possession date is traditionally negotiated between the buyer and seller. Often the possession […]
Alberta Home Valuation – Free Estimate and Other Methods
Comparing your home to recently sold homes in your neighbourhood is the easiest way to estimate its current value. To get a general value of what your home is worth, you can use Sweetly’s Instant Home Valuation tool. However, if you would like an actionable value that you can use for a Swift Sale or […]
How to sell your home during a divorce in Alberta
Before getting a divorce, it is unlawful to sell your home in Alberta without consent from a legally married spouse. The consequence of listing, leasing, or transferring your property without consent could be the court awarding your spouse half the home’s fair market value. If you want to sell your home in Alberta before, during, […]
Why is selling a home so expensive in Alberta?
In most real estate transactions, the most significant fee you will pay when selling a home is the commission which is usually split between your agent and the buyers’ agent. But that does not necessarily mean that you would save money going without a REALTOR®. Selling your home without a REALTOR® could be more expensive […]