Are you purchasing a home in
Calgary or Edmonton this year?
Buying a home, whether it is your first or one of many, can be a stressful and involved experience. For most, it is the largest purchase and investment they will make in their life. It is for this reason that you need to plan your purchase with some wise guidelines and requirements, as well as collecting the advice of a top Edmonton real estate lawyer who can guide you through the process.
Home Buyer’s Checklist
- When making an offer, subject the transaction to sale conditions for the protection of your investments. The following are a number of condition examples that appear in property sales:
- Sale is subject to purchaser’s financing
- Sale is subject to an approved building inspection
- Sale is subject to Vendor supplying recent Real Property Report (if available) or a Compliance Certificate
- Sale is subject to the approval of the buyer’s legal representation
- Always include a time limit for acceptance by the seller.
- Always specify which Chattels are included or excluded from the purchase (e.g. appliances, mirrors, drapes, light fixtures, etc.) when making your Offer to Purchase and Sale. If possible, request serial numbers.
- If you are in a position to assume the seller’s existing mortgage, confirm through your lawyer that it is assumable. Contact the mortgage company well in advance of the sale to determine what information they require from you. Ensure that you are absolutely clear on the terms and conditions of the mortgage you are overtaking.
- Sale is subject to the building, and any improvements on the property, being in compliance with City and Municipal Land Use Bylaws, Zoning Regulations, and Planning Department Requirements.
- Always collect additional estimates from your realtor, the mortgage lender, and your lawyer, on the costs you will incur in addition to the purchase price.
Contact the best Edmonton real estate lawyers
when buying a home in Alberta
Purchasing a home can be one of the most important milestones in your life. Don’t cut corners or make assumptions in the process. Selling or buying property in Edmonton can be a complex matter and you should have the guidance and advice of a highly rated Edmonton real estate lawyer.
Contact an Alberta Real Estate Lawyer Today
|M. Robert Mackinnon, B. Sc., LL.B.
Edmonton Real Estate Lawyer
McGlashan & Mackinnon – Edmonton Real Estate Lawyers
Robert has been and continues mostly to be a general practitioner. He practices in a broad range of the legal areas, including residential and commercial real estate, construction and real Estate Litigation, family law, corporate and commercial, civil litigation and Wills and estates.