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 short period of six months to a […]
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 happens if you can’t pay your mortgage?
Whether you have lost your job, gone for a vacation, or are struggling with severe health conditions, there could be many reasons that make you fall short on payments even after doing everything to adjust your budget. So, in that case, here are the consequences and solutions if you’re unable to pay your monthly mortgage […]
What happens when you inherit a house?
Inheritance is the distribution of an individual’s property after their death. The situation can get complicated if a person dies without a valid will. The first thing to know is that you don’t have to pay money to transfer the house to your name if you inherit a house. Inheriting a house can be daunting […]
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 […]
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 […]