Alternatives to Bridge Financing for Your House
What is bridge financing? Bridge financing, also known as a bridge loan, is a type of short-term financing that helps bridge the gap between the immediate need for funding and the availability of long-term financing. It is a type of loan that is usually taken out for a period as short as a week, or […]
Best Places to Live in Alberta 2023
Alberta’s latest marketing campaign encouraging people from across Canada to move to our province has gathered a lot of attention. With promises of shorter commutes, larger homes, and proximity to nature, there is a lot that this province can offer (no sales tax!). Alberta is Calling, and depending on what you want to get out […]
Common Real Estate Contingencies
When buying or selling a home a real estate, it is essential to understand what a contingency is. What is a Real Estate Contingency Clause? A contingency clause allows all parties to back out of the legal agreement if a certain set of circumstances are met. Common Contingencies in Home Purchase Contracts Some of the […]
Can I Put Offers on Multiple Houses?
Every real estate deal comes with its own set of challenges, and while it may be legal to put in multiple offers on homes, you will need to be careful as there are some issues you may run into by using this practice. Beyond the ethical considerations, there are also some legal issues that you […]
How to Set a Home Buying Budget
When you purchase a home, there are many costs that must be accounted for besides your mortgage. You want to ensure that you don’t fall into the trap of being house-rich but cash poor. The Golden Rule 30% In the past, the Golden Rule for mortgage affordability has been 28-30% of your gross income. Example: […]
Condo Maintenance Fees vs House Expenses
There are many things to consider when considering whether to purchase a home or live the condo lifestyle. The difference in expenses between a condo and a home is one of the largest questions that a future homeowner needs to calculate before deciding what is right for them. While both houses and condos require maintenance […]
What’s my home worth? How to find your home’s value
Should you use a value estimator tool or hire a home appraiser? Hiring a home appraiser is the best method of estimating the current value of a home (other than putting it on the market). Online value estimators can give you a great ballpark for what your home is worth, however, they may over or […]
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 […]