There are a lot of things you should consider when buying a home in Edmonton. Aside from looking for the right property, you will also have to choose the mortgage suitable for your needs. Mortgage refers to a debt instrument wherein a company or bank lends a buyer the money one needs at interest to complete the purchase of a property. The rates may vary depending on where you are buying the property. You can check current rates in Edmonton and compute the payments using the mortgage calculator. There are many types of mortgages. See this article on the Types of Mortgages in Alberta to have a better understanding of each of them. It may also be helpful to obtain legal advice from a mortgage lawyer in Edmonton before you make your decision on a mortgage. A Lawyer’s Role If you have decided to hire a real estate lawyer in Edmonton, it would be best to clarify with them their level of involvement. Their knowledge of the law will be highly beneficial for you as a buyer. Besides, as the client, you and your rights will be their priority. [...]

When purchasing a home, a buyer has a lot of options. One of these is a condominium. There are many reasons why some people choose to purchase condominiums over traditional homes.  Why Choose Condominiums Condominiums offer advantages that traditional homes do not have. Since these types of homes are in urban areas, they offer convenience. They are usually within walking distance to shops, restaurants, and offices. Most of them also have amenities, such as fitness centers and pools. Condominiums have become an attractive option for people who have busy lives. They also support a low-maintenance lifestyle. Personally, I live in a condominium and I love the convenience. The Buying Process Despite the differences, purchasing a traditional home and a condominium both require one to undergo a process. Choose the right condominium. Not all condominiums are the same. In Edmonton, there are two types of ownership of a condominium unit. You can choose the conventional condominium, which is the common form located within a building. You can also have a bare land condominium unit, which is a plot of land that can either be developed or not. Some condominiums [...]

As the new year starts, many people have prepared themselves to start another chapter in their lives. You may be one of those that have decided that this will be the year to put an end to your rental days. Purchasing a home requires you to deal with a lot of things. That is why one has to be sure that one is ready for this big step. The Information You Will Need Do your research. Check newspapers or websites for real estate listings and compare your options. You also have to take note of the properties that caught your eyes and find out how long they have been on the market. You can also take note of any changes in the asking prices to get a good sense of the housing trends. It will also help to check the neighborhood. What can it offer, and will it suit your lifestyle? You will also need to consider hiring a buying home lawyer in Edmonton. There are legalities involved in purchasing a property. Consulting with a lawyer can help you in making decisions. A real estate lawyer [...]

Whether you are selling or buying real estate, you may have heard of some people advising you to hire a real estate lawyer. Some people think that having one only results in unnecessary expenses. However, what they do not realize is that you need a property lawyer to complete your transaction. A lawyer will provide legal advice and will ensure the completion of the transaction while protecting the client’s rights and interests. Some people understand the value of a property lawyer. However, they do not want to spend more. So, they tend to look for a cheap real estate lawyer in Edmonton. Doing this is not necessarily problematic, but it may not be the best decision too. What you should consider is the credibility and experience of the lawyer. To help you in choosing the right lawyer, you should be aware as to how important their role is and what type of services they offer. For the Seller Your lawyer can assist you in preparing the purchase contract or in negotiating non-standardized terms.Your lawyer will prepare the sale documents, which may include the transfer of land, [...]

A lot of people buy condominium units in Edmonton because it makes life easier and more convenient for them. However, purchasing one is not that different from buying a home. You will need to ensure that you are getting what you are paying for. Who You Need One way of doing this is by hiring condominium lawyers in Edmonton. This way, you have someone to review and make sure that your rights are protected and that the transaction follows Alberta law. They can also help understand various information for owning or renting a home. Another person you will need is a qualified home inspector to examine the unit for you. Information about the condominium is not limited to the paperwork. You can discover a lot through an inspection. It can help you look for things that you may have otherwise overlooked. The inspector also knows what signs to watch out for and which parts of the property to check. Hiring A Home Inspector The home inspector will evaluate the property you are interested in purchasing. Thus, it is necessary to choose someone who is reliable and [...]

Buying a home for yourself can be an exciting adventure. However, it requires proper planning and preparation. One of the things that you will need to think about is securing a mortgage. What It Is Mortgage refers to a loan that a homebuyer gets from a financial institution or organization. Using it aims to help the borrower purchase the house. It includes an agreement on the amount, interest, and payment. The mortgage puts the property as collateral for the loan that the financial institution or organization lends. What To Prepare There are many things involved in getting a mortgage in Alberta. It requires one to prepare various things and do some tasks. Prepare the paperwork. Gather all relevant information that can help with your mortgage approval. Consult a mortgage broker to find out what documents you need to prepare. It may include proofs of income and assets. You can often submit mortgage approval applications online.  For example, visit Dominion Lending. To make sure that you have the necessary documents and have completed the paperwork properly, you can also consult a mortgage lawyer in Edmonton. Check your [...]

Property transactions can be complicated. It involves paperwork and legal documents. That is why you need a real estate lawyer. Whether you are selling your property or buying a new home, a property lawyer can help. Reasons to Hire A Real Estate Lawyer You need a lawyer to help you close your home purchase or sale transaction.  An experienced property lawyer is well-versed on real estate law and understands the process in order to close your transaction as smoothly as possible. There are many qualified lawyers around. However, everyone wants the best service they can get. So, it is only natural for one to look for the best real estate lawyer in Edmonton. Only the Best An effective way of finding the best real estate lawyer is to know what to look for. You can start by researching about the practicing lawyers in Edmonton. You may check their websites and reviews from previous clients to have an idea of what they can offer. From this information, you can come up with a shortlist of the ones you think suit your needs. Include in your research the following: [...]

Choosing to sell a home is a big decision. It does not matter if it is your first time or not. Selling a home can be stressful and lead to one thinking of uncertainties. One way of helping you minimize these feelings is to prepare well. Having a home selling lawyer in Edmonton may also provide you the proper assistance. Things To Know When selling your home, it is necessary to ensure that you pay attention to every detail. You will have to make sure the property attracts potential clients. You also have to avoid creating mistakes that can make your home unappealing. You have to disassociate yourself from the property. Once you have decided to put your property for sale, you have to be ready to let go of any attachment. It will be a business transaction and nothing else. Keep in mind that it will no longer be your home. You should also declutter and remove personal items. Potential buyers should be able to envision themselves living in the place. You may need to make changes. Fix any broken doors, windows, locks, or drawers. Replace burned-out [...]

Being a homeowner is a goal of many Edmonton residents. It is an exciting milestone. However, it involves considerations and careful thought. Things To Do The first thing you should do is prepare yourself financially and emotionally. Make sure that you are ready to settle down. At the same time, you should also have the capacity to finance your purchase. You should also be aware of the real estate law in Edmonton. Here are a few more tips to think about before finalizing your purchase: Make sure you can pay for the down payment and have a stable source of income for the mortgage.Get a pre-approved loan. Weigh your interest rate mortgage options.Be aware of possible closing costs.Research the neighborhood.Consider the type of home that suits your needs and lifestyle. A Lawyer’s Help A property lawyer can help you understand the process and ensure that you comply with all legal requirements. The lawyer will also provide you with legal assistance as you go through the purchasing process. As a first-time homebuyer, you may have never interacted with a real estate lawyer before. So, here is some information [...]

Purchasing or selling a real estate in Alberta comes with responsibilities. It is not a simple signing of a contract. One should follow the process that the law has set. To be able to comply, some people choose to hire the services of a conveyance lawyer to deal with legal requirements. The Process In real estate transactions, conveyancing refers to the preparation of documents for the legal transfer of a property. Thus, a conveyancer is someone who offers legal assistance to either a buyer or a seller. He or she will help ensure that the client meets all legal obligations and protect their rights during the transaction.  Their Role In 2001, Western Law Societies came up with a protocol to respond to changes in conveyance and real estate marketplace. Under this, each provincial law society had to develop a protocol that corresponds to the needs of each province. Among these is the Alberta Conveyancing Advisory Committee, which came up with a local protocol prescribing enhanced standards in the practice of conveyancing. It also included the essential steps that a real estate lawyer should take and his or her [...]

Many people include purchasing a home in their priorities. However, it is not an easy process. It can even be exhausting. That is why some people decide on getting a property sale lawyer in Edmonton to assist them with the purchase. This way, they can ensure that everything goes through the legal process. Aside from the legal transactions, there is one thing that a buyer also needs to focus on – home inspection. The results of a home inspection can easily change the course of your transaction. That is why hiring a qualified home inspector is crucial. You would not want to buy a house and find out about problems when it is already too late. Role of Home Inspectors These people inspect the residential property you are interested in and provide a report on their findings. The idea is for you to use that report as a basis for your decision. Through them, you will find out about issues that may affect the purchase price of the property. Red Flags Home inspectors will check every nook and cranny. While some issues are minor that one can resolve, [...]

Purchasing a home is an exciting adventure. However, it also comes with a process to ensure that everything is in order and legal. One of the steps that you should pass through is the closing process. Real Estate Closing In the world of real estate, the closing is the final step. After all the negotiation, the seller finally accepted your offer. However, the process is not over yet. You will have to agree on a closing date. That is when you become the legal owner of the property. Some people choose to hire a lawyer for real estate in Edmonton to assist them with the legalities of the purchase. The closing, which is also known as the settlement, is the process wherein you perform the agreements you have made with your mortgage lender and the seller. It usually involves the simultaneous exchange of various documents and necessary funds for the completion of the transaction. What To Expect You should ensure the completion of all financing paperwork and searches before the set closing date. Having a lawyer for real estate in Edmonton can help you get through [...]

Every seller’s goal is to sell their product fast while getting the set profit, or more if possible. The same applies when one is selling a home. However, it is not easy to achieve. One should have careful planning and preparation. While you can rely on real estate lawyers in Edmonton to help you, you should also do your part. Preparing The House You do not have to do a lot when it comes to the property itself. All you need to do is make it as presentable and inviting as possible.  Depersonalize it by removing all photographs and heirlooms.Clean all parts and declutter.Organize all spaces, including storage cabinets.Make all repairs and ensure that everything is in good condition.Eliminate anything that produces bad odors like a litter box. You can also spray air freshener.You can also give the home a makeover by applying a fresh coat of paint.Consider home staging to make the place look more spacious and give prospective buyers a chance to imagine themselves living in it. Preparing For The Process The selling process is not easy. You have to interact with various people [...]

Selling a home requires a lot of effort. Putting up that for sale sign may not be enough to ensure a transaction. For legal requirements, you may need a home selling lawyer in Edmonton. As for attracting buyers, that will depend on how you present your property. Home Staging When selling a home, you need to make sure that your property will stand out among competitors. Taking an extra step to make a good impression can go a long way. One popular way to increase the selling price of a home and decrease the selling time is home staging. Contrary to what many people think, home staging is not all about decorating. Yes, it is about arranging furniture, adding details, and improving the landscaping to showcase the beauty of one’s property. But, it is more on depersonalizing your home to make prospective buyers imagine living in it themselves. Benefits For Sellers Some people think home staging is an unnecessary expense. However, it comes with many benefits that will pay off the investment you have made. People say that first impressions last. The same is true for [...]

Most, if not all, people who purchase real estate get a mortgage. However, it is not a simple process. You may even require the assistance of a mortgage lawyer in Edmonton to help you decide. The reason is that there are financing options you need to understand so you can come up with a decision that is suitable for your needs and situation. Weighing Your Options Among the financing options that you can choose from are the fixed rate and variable rate mortgages. Both types of loans have advantages and disadvantages. Weigh them before coming up with a decision. Fixed-Rate As the name suggests, this type of mortgage offers a fixed interest rate at the beginning of the term. It is not subject to any changes during the mortgage term. It may be best for someone who wants a set amount for monthly payments. However, the interest rate may be higher for this loan. One advantage of this is it has a lower long-term risk.  For example, you have chosen a five-year term with a fixed rate. All of the payments you have to make would [...]

Purchasing a home may be one of the most significant investments a person can make. Most people have it listed in their life goals and dreams. If you are planning on buying your first home in Edmonton, you should keep in mind that it requires more than putting up an offer. It comes with a lot of considerations. The Signs Being a homeowner comes with responsibilities. Make sure you can handle them. You will also have to undergo a legal procedure to ensure everything is in proper order. If you find the process a bit overwhelming, you can look for an affordable real estate lawyer in Edmonton to help you. You can afford it. Having the desire to own a house is not enough. You should have enough savings to pay for the down payment. Be aware of how much you can afford. According to the Real Estate Council Alberta (RECA), the amount for down payments is typically at least 5% of the purchase price. However, some lenders also offer mortgage options to help buyers with the down payment. You have a good credit score. Lenders use credit [...]

Real estate transactions can be exciting. However, it can also be overwhelming once you get started on the process. Whether it is your first time buying a home or not, it is necessary to be ready to face the challenges in each step. A lot of times, people who buy a home in Edmonton contemplate if they should hire a lawyer or not. Some think it may just lead to unnecessary expenditure. But, you should understand that purchasing a home can be a complicated process. That is why it is necessary to know when you should employ the services of a real estate lawyer. What is a real estate lawyer? This type of lawyer is someone who focuses on rules, regulations, and laws that has something to do with real estate transactions. He or she is someone who can help clients understand contracts, legal documents, and the process. When does a buyer need a lawyer? Having a lawyer can protect one’s rights while ensuring that the purchase of a property goes smoothly and right on schedule. A lawyer can help the buyer analyze the paperwork, which [...]

Property transactions can be overwhelming and complicated. You will need to employ the services of an Edmonton real estate lawyer to help them deal with the process. However, some individuals may find it hard to find the right one. Clients sometimes feel intimidated and think twice before reaching out to a legal professional. It is essential to know what to expect. Education and Information The first thing a lawyer should do is educate clients about the process. It may be hard for some people to understand legal jargon. One can ask for further explanations. You can discuss your expectations with your lawyer. Some real estate lawyers allow clients to have free consultations or meetings. Use this as an opportunity to understand your situation better. You can expect your lawyer to inform you about the following: Should you go through a mortgage broker or a bank to fund your purchase?How does the deposit work once you make an offer?Is a Real Property Report (RPR) necessary?How much does the transaction cost?What steps should one take to finalize the deal? The Meeting Once you have committed to a purchase [...]

Title insurance protects an individual against any discoveries about a property in the future. These issues can be related to the title or not. It provides insurance coverage for problems due to legal defects. In case an individual stumbles upon problems, one can file for title insurance claims. However, it is essential to understand how this type of policy works before purchasing one. Check out your options and choose one that is fit for your needs. When Can One File For Title Insurance Claims? The insurance policy will include a detailed list of the covered risks. It allows one to prevent the occurrence of financial loss due to problems with the property. See this article for some claim examples for more information. Fraudulent transactionsMunicipal zoning-by-laws and building permit violationsRegistered liens against the title of the propertyErrors found in the surveys and public recordsUnknown defects that prevent one from having ownership Hiring a real estate lawyer can help you understand how title insurance can protect you. Your lawyer can also explain to you the extent and limitations, as well as the inclusions, so you can come up [...]

Most of the time, real estate transactions happen between individual buyers and sellers and documentation must be signed in person in front of a real estate lawyer. However, some circumstances, an individual is not availabe in person to sign the required closing documentation. They may be able to transfer their legal rights to transact to someone else. To be able to do this, one should execute a power of attorney (POA) to a representative.  Thus, the representative will have the legal authority to act on one’s behalf. Reasons To Consider Assigning POA Dealing with real estate matters is a huge responsibility. It involves a complex process that requires attention. However, not everyone can watch over or perform each task. If you think you can relate to any of the following reasons, you might want to consider POA. POA provides convenience. There are times when the seller or buyer of a property cannot attend to the transactions personally as they are out of town or the country due to work or an extended vacation. . If you are busy with your job, business, or something else, granting a [...]