What paperwork is needed to sell a house without an agent?
While selling a home on your own may seem overwhelming at first, with some organization beforehand you can avoid costly mistakes and missing out on potential buyers. Selling your home without a real estate agent is often done to cut costs and increase profits. However, it’s not as easy as just listing the house for […]
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 […]
High appraisals explained: Can the seller back out if the appraised value is higher than the contract price?
Under provincial laws, you have no obligation to disclose the results of a home appraisal to the seller. Consequently, a high home appraisal is good news for the buyer because you will pay less than the market value for the home. The terms of the purchase contract and contingencies determine if either party can pull […]
Home Appraisal’s Explained: Everything you need to know about an Appraisal in Edmonton, Alberta
If you buy a home for cash in Edmonton, a home appraisal is not strictly necessary. However, for mortgages, your lender will need a home appraisal to avoid lending more than the home is worth, allowing them to recover the loan amount if you default on the loan. The buyer and appraiser define the type […]
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 […]